SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 12, 2012
Concho Resources Inc.
(Exact Name of Registrant as Specified in Its Charter)
Registrants telephone number, including area code: (432) 683-7443
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
On April 12, 2012, Concho Resources Inc. (the Company) entered into an Eighth Amendment (the Eighth Amendment) to its Amended and Restated Credit Agreement, dated as of July 31, 2008, with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the Amended and Restated Credit Agreement).
The Eighth Amendment increases the aggregate limit on the Companys permitted indebtedness evidenced by unsecured senior notes from $2.5 billion to $3.1 billion and extends the deadline for the Company to issue additional unsecured notes without any reduction in its borrowing base as a result of the issuance of such notes from November 1, 2012 to May 1, 2013. After May 1, 2013, any issuance of unsecured notes will result in a reduction in the Companys borrowing base equal to the lesser of (i) $300.00 for every $1,000.00 of unsecured notes issued by the Company or (ii) such other amount, if any, as determined prior to such issuance of unsecured notes by lenders holding at least two-thirds of the outstanding credit exposure and unused commitments under the Amended and Restated Credit Agreement.
In addition, the Eighth Amendment reaffirms the Companys current borrowing base of $2.5 billion under the Amended and Restated Credit Agreement.
The foregoing description of the Eighth Amendment is a summary only and is qualified in its entirety by reference to the complete text of the Eighth Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
The information set forth under Item 1.01 concerning the Eighth Amendment is incorporated herein by reference.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.