EXHIBIT 12.1

CONCHO RESOURCES INC.

STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

	Concho Resources Inc.
													Inception
													(April 21,			Chase Group
													2004)			Properties
	Six Months												through			Years Ended
	Ended June 30,			Years Ended December 31,									December			December 31,
	2009			2008		2007		2006		2005			31, 2004			2005		2004
								(in thousands, except ratios)
Income (loss) before income taxes	$	(80,240	)	$	440,787	$	41,379	$	34,047	$	3,993		$	(3,571	)	$	74,351	$	53,618
Interest expense		10,570			29,039		36,042		30,567		3,096			272			—		—
Rental expense attributable to interest		234			338		102		228		107			61			—		—
Earnings (loss)	$	(69,436	)	$	470,164	$	77,523	$	64,842	$	7,196		$	(3,238	)	$	74,351	$	53,618
Interest expense	$	10,570		$	29,039	$	36,042	$	30,567	$	3,096		$	272		$	—	$	—
Capitalized interest		18			1,233		2,647		2,129		370			—			—		—
Rental expense attributable to interest		234			338		102		228		107			61			—		—
Preferred stock dividends		—			—		45		1,244		4,766			804			—		—
Fixed charges and preferred stock dividends	$	10,822		$	30,610	$	38,836	$	34,168	$	8,339		$	1,137		$	—	$	—
Ratio of earnings (loss) to fixed charges (a)		(6.42	)		15.36		2.00		1.97		2.01			(9.72	)	NM(c)		NM(c)
Insufficient coverage	$	(80,258	)	$	—	$	—	$	—	$	—		$	(3,571	)	NM(c)		NM(c)
Ratio of earnings (loss) to fixed charges and preferred stock dividends (b)		(6.42	)		15.36		2.00		1.90		0.86			(2.85	)	NM(c)		NM(c)
Insufficient coverage	$	(82,258	)	$	—	$	—	$	—	$	(1,143	)	$	(4,375	)	NM(c)		NM(c)

(a) The ratio has been computed by dividing earnings by fixed charges. For purposes of computing the ratio:

• earnings includes income (loss) before income taxes adjusted for interest expense and the portion of rental expense deemed to be representative of the interest component of rental expense; and

• fixed charges consists of interest expense, capitalized interest and the portion of rental expense deemed to be representative of the interest component of rental expense.

(b) The ratio has been computed by dividing earnings by fixed charges and preferred stock dividends. For purposes of computing the ratio:

• earnings includes income (loss) before income taxes adjusted for interest expense and the portion of rental expense deemed to be representative of the interest component of rental expense; and

• fixed charges and preferred stock dividends consists of interest expense, capitalized interest, the portion of rental expense deemed to be representative of the interest component of rental expense and preferred stock dividends.

(c) Not mentionable, as there were no fixed charges or preferred stock dividends for these periods.