Exhibit 12.1

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

			Historical
																	Chase Group
	Pro Forma		Concho Resources Inc.														Properties
	Nine Months		Nine Months														Year
	Ended		Ended														Ended
	September 30,		September 30,		Year Ended December 31,												December 31,
(in thousands, except ratios)	2010		2010		2009			2008		2007		2006		2005			2005
Income (loss) before income taxes	$	348,370	$	337,252	$	(30,534	)	$	440,787	$	41,379	$	34,047	$	3,993		$	74,351
Interest expense		66,762		34,293		28,292			29,039		36,042		30,567		3,096			—
Rental expense attributable to interest		482		482		505			338		102		228		107			—
Earnings	$	415,614	$	372,027	$	(1,737	)	$	470,164	$	77,523	$	64,842	$	7,196		$	74,351
Interest expense	$	66,762	$	34,293	$	28,292		$	29,039	$	36,042	$	30,567	$	3,096		$	—
Capitalized interest		119		119		66			1,233		2,647		2,129		370			—
Rental expense attributable to interest		482		482		505			338		102		228		107			—
Preferred stock dividends		—		—		—			—		45		1,244		4,766			—
Fixed charges and preferred stock dividends	$	67,363	$	34,894	$	28,863		$	30,610	$	38,836	$	34,168	$	8,339		$	—
Ratio of earnings to fixed charges (a)		6.17		10.66		(0.06	)		15.36		2.00		1.97		2.01		NM (c)
Insufficient coverage	$	—	$	—	$	(30,600	)	$	—	$	—	$	—	$	—		NM (c)
Ratio of earnings to fixed charges and preferred stock dividends (b)		6.17		10.66		(0.06	)		15.36		2.00		1.90		(0.86	)	NM (c)
Insufficient coverage	$	—	$	—	$	(30,600	)	$	—	$	—	$	—	$	(1,143	)	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.