Message from Our Chairman & CEO

At Concho, we strive to produce efficient and reliable energy. We have a deep legacy operating in the Permian Basin, which provides us with the technical, operational and economic advantages needed to produce a competitive source of energy for worldwide consumption. We believe our efforts contribute to improving quality of life around the world.

Advancing sustainability is integral to our success. After all, we live where we operate, which means we can see our progress real time. Our role in supplying a competitive energy source is one we take seriously and sustainability is core to our strategy and success. Over the past 10+ years, we have assembled a growth platform that is nearly unmatched in our industry. We are making investments and strategic decisions today to support our social license to operate. We have many stakeholders and there is always more to do. We welcome the challenge and look forward to continued engagement on our sustainability performance and believe over time this will make us both a better company and more competitive.

Tim Leach

Chairman and Chief Executive Officer

Approach to Sustainability

Advancing our sustainability progress is an important priority for both Concho and our stakeholders, and our goal is to embed sustainability at every level of the Company. Our corporate responsibility activities are organized under five primary pillars:

  • Upholding good governance practices
  • Prioritizing safety and health
  • Protecting the land, water and air through responsible development
  • Investing in our workforce
  • Supporting projects that contribute to the long-term growth of our communities

Operating Safely

We prioritize the health and safety of our people, as demonstrated by our safety performance, which shows a trend of consistently low incident rates.

Safeguarding the Environment

We are reducing emissions and improving our air quality performance, demonstrated by approximately a 60% decrease in methane emissions in 2019 and nearly a 25% reduction in greenhouse gas intensity since 2017.

Encouraging Water Reuse

We are advancing our water recycling efforts, which resulted in nearly a 70% increase in reused water volumes in 2019, compared to 2018.

Investing in Our Team

We are investing in our team and creating a diverse and inclusive culture, which has resulted in recognition as a Great Place to Work for five consecutive years and in 2019 recognition as a Great Place to Work for diversity.

Investing in Our Community

The wellbeing of our local community is important and guides our approach to philanthropy and giving back. We invested more than $5 million in Permian Basin communities during 2019.

Ensuring Accountability

Since 2018, we have included key sustainability performance measures within our compensation structure, which we believe strengthens the integration of sustainability into our operations and strategic direction.

Sustainability Reporting