Laredo Petroleum Contents Current operations History See also References External links Navigation...
2006 establishments in Oklahoma2011 initial public offeringsAmerican companies established in 2011Companies based in Tulsa, OklahomaCompanies listed on the New York Stock ExchangeEnergy companies established in 2006Non-renewable resource companies established in 2006Oil companies of the United StatesPetroleum in Oklahoma
hydrocarbon explorationDelawareTulsa, Oklahomapenny stockOver-the-counterbarrels of oil equivalentpetroleumnatural-gas condensatesnatural gasPermian BasinPermian BasinCline Shalepublic companyinitial public offeringAnadarko BasinOklahomaTexasPermian Basin
 | |
Type | Public company |
|---|---|
| Traded as | NYSE: LPI S&P 600 component Russell 2000 Index component |
| Industry | Petroleum industry |
| Founded | 2006 (2006) |
| Founder | Randy A. Foutch |
| Headquarters | Tulsa, Oklahoma, U.S. |
Key people | Randy A. Foutch, Chairman & CEO Richard C. Buterbaugh, CFO |
| Products | Natural gas Petroleum |
Production output | 68 thousand barrels of oil equivalent (420,000 GJ) per day (2018) |
| Revenue |  $1.105 billion (2018) |
Net income |  $0.328 billion (2018) |
| Total assets | $2.420 billion (2018) |
| Total equity | $1.174 billion (2018) |
| Owner | Warburg Pincus (21.9%) |
Number of employees | 340 (2018) |
| Website | laredopetro.com |
Footnotes / references [1] | |
Laredo Petroleum, Inc. is a company engaged in hydrocarbon exploration organized in Delaware and headquartered in Tulsa, Oklahoma.
Laredo Petroleum has no connection or association with Laredo Oil, a penny stock promotion traded on the Over-the-counter market.
Contents
1 Current operations
2 History
3 See also
4 References
5 External links
Current operations
As of December 31, 2018, the company had 238 million barrels of oil equivalent (1.46×109 GJ) of estimated proved reserves, of which 26% was petroleum, 36% was natural-gas condensates and 38% was natural gas. All of these reserves were in the Permian Basin, where the company controlled 120,617 net acres.[1]
The company drills almost all of its wells using what it calls the "earth model", which it claims increases efficiency.[2]
History
The company was founded in October 2006 by Randy A. Foutch.[1]
In July 2011, the company acquired Broad Oak Energy in a $1 billion transaction, which expanded its presence in the Permian Basin and the Cline Shale.[3][4]
On December 20, 2011, the company became a public company via an initial public offering.[1]
In May 2013, the company sold its assets in the Anadarko Basin in western Oklahoma and Texas to affiliates of EnerVest Ltd for $438 million to raise capital for its drilling activities in the Permian Basin.[5][6]
In July 2016, the company acquired additional acreage in the Midland Basin for $125 million.[7][8]
In 2017, the company sold its interest in the Medallion Pipeline.[9]
See also
- List of oil exploration and production companies
References
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^ "Earth model assists Permian asset valuation". Oil and Gas Journal. July 6, 2015.
^ "Laredo Petroleum Completes Broad Oak Energy Acquisition" (Press release). PR Newswire. July 6, 2011.
^ Joyce, Matt (July 6, 2011). "Broad Oak Energy bought for $1 billion". American City Business Journals.
^ MARKS, JAY F. (May 22, 2013). "Laredo selling Anadarko Basin acreage in $438M deal". The Oklahoman.
^ "Laredo Petroleum exits Anadarko Basin with $438 mln asset sale". Reuters. May 21, 2013.
^ "Laredo Petroleum Acquires Bolt-On Midland Basin Acreage" (Press release). GlobeNewswire. July 14, 2016.
^ "Laredo to increase Midland basin holdings". Oil and Gas Journal. July 14, 2016.
^ "Laredo Petroleum Announces Agreement to Sell Interest in Medallion Pipeline" (Press release). GlobeNewswire. October 2, 2017.
External links
- Business data for Laredo Petroleum, Inc.: Google Finance
- Yahoo! Finance
- Bloomberg
- Reuters
- SEC filings
- Business data for Laredo Petroleum, Inc.: Google Finance
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Commons
