Concho Resources ( CXO ) likewise used its Permian Basin transactions as a platform to ramp up growth going forward. The company initially anticipated that its production would be flat to down 5% this year. However, its most recent deal will push its production up by 1% to 3%. Further, the deal sets Concho Resources up to deliver 20% oil production growth in 2017. That said, like SM Energy, Concho paid an enormous premium to return to growth mode.