January 28, 2010 (FinancialWire) — Concho Resources Inc. (NYSE: CXO) said that the underwriters of its recent common stock offering have exercised in full their option to purchase an additional 697,500 shares to cover over-allotments in such offering.

BofA Merrill Lynch (NYSE: BAC), J.P. Morgan (NYSE: JPM) and UBS Investment Bank (NYSE: UBS) are acting as joint book-running managers.

As a result, Concho will issue a total of 5,347,500 shares of common stock, and the net proceeds from this offering will be around $219.2 million after deducting underwriting discounts and estimated offering expenses.

Concho said it expects issuance and delivery of all 5,347,500 shares to occur on February 1, 2010, subject to customary closing conditions.

Texas-based Concho Resources is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The company’s operations are focused in the Permian Basin of Southeast New Mexico and West Texas. In addition, the company is involved in a number of emerging plays.

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