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ConocoPhillips Commences Exchange Offers and Concho Resources Inc. Commences Consent Solicitations

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced that, in connection with the anticipated acquisition of Concho Resources Inc. (“Concho”) (NYSE: CXO) by ConocoPhillips, ConocoPhillips has commenced offers to eligible holders to exchange (each an “Exchange Offer” and collectively, the “Exchange Offers”) any and all outstanding notes issued by Concho as set forth in the table below (the “Existing Concho Notes”) for (1) up to $3,900,000,000 aggregate principal amount of new notes issued by ConocoPhillips and fully and unconditionally guaranteed by ConocoPhillips Company (the “New ConocoPhillips Notes”) and (2) cash.