Midland-based Concho Resources said Tuesday it has agreed to sell assets in New Mexico shelf to an affiliate of Houston startup Spur Energy Partners for $925 million. The assets include 100,000 gross acres (70,000 net) with current production of 25,000 boed and 2,500 operated wells (35 percent of Concho’s operated wells). Tim Leach, chairman and CEO, said the sale of Concho’s mature assets will allow the company to focus “our portfolio on opportunities with the highest potential for strong returns.” Proceeds will be used by Concho for debt reduction and a share buyback program. Concho will maintain its large presence in the Delaware Basin in New Mexico.