Concho Resources, Inc. announced that Steven H. Pruett is joining the Company as Senior Vice President of Corporate Development. In this role, Mr. Pruett will be responsible for the Company's business development, capital markets and investor relations functions. Mr. Pruett has over 20 years of oil and gas experience in the Permian Basin, most recently serving as President and Chief Financial Officer of Legacy Reserves since its founding in 2005. In addition, he has previously served as President and Chief Executive Officer of First Permian from 2001 until its sale in 2002 and as President and Chief Executive Officer of First Reserve Oil & Gas Co from 1995 until 2000. Mr. Pruett has a Bachelor of Science in Petroleum Engineering from the University of Texas and a Masters of Business Administration from Harvard Business School. In addition, Jack F. Harper, Concho's Senior Vice President and Chief of Staff, has informed the Board of Directors that he intends to retire effective December 31, 2012.