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2014 was a year in which the oil and gas industry saw volatility in commodity prices. Concho Resources, a Midland, Texas based oil and gas company, was built to withstand this type of fluctuating environment. The objective was to create an annual report concept which would portray Concho as a bold company ready to chart their path through the commodity turbulence and the ways in which it was strategically positioned to do so. As always, Concho shies away from the standard oil and gas imagery and iconography in favor of something a bit less literal. This meant no oil derricks, hard hats or pump jacks to be shown anywhere.
Concho Resources chose a direction which used a nautical theme, “Charting Our Course.” This direction would supply the perfect vehicle to portray Concho as a ship navigating through the terrain of ebbing commodity prices. The cover was left intentionally graphic with a beautiful multi-level emboss of a compass rose centered within a nautical chart. A red, white and blue color palette echoed nautical themes and colors and also cast a patriotic tone. This palette was brought to vivid life when printed as spot colors throughout the book lending the annual report a striking visual signature. Just like a crew working aboard a clipper ship, Concho’s team is working together harmoniously and the imagery throughout shows teams that can easily adapt to any change in condition. The 10-K even was printed in blue ink on a light blue paper stock to keep the theme running throughout the entire piece. This annual report, the fourth we’ve completed for Concho, continues a tradition of finding a perfect visual metaphor to convey the messaging and story from the year.
The annual report was well-received by shareholders, with Concho describing it as "the best annual report we've done yet." The atypical imagery and nautical theme perfectly aligned with the year's messaging to create an annual report that was both engaging and a compelling story.