In fact, Concho Resources traces its corporate history to the Yeso. In 2006, the Midland-based E&P combined with Artesia-based Chase Oil Corp. to establish a Yeso position on the Northwest Shelf. This predated Concho's Henry Petroleum LP acquisition in 2008 that set the company on course to become a dominant player in the Texas portion of the Permian Basin. In 2010, Concho expanded its Yeso holdings after acquiring Artesia–based Marbob Energy Corp. for $1.4 billion.