Laredo Petroleum Inc. (US5168062058)

Overview

Laredo Petroleum, Inc. is an independent energy entity with a focus on the procurement, exploration, and enhancement of oil and natural gas assets, specifically in the Permian Basin located in West Texas, USA. Originated in 2006 and initially known as Laredo Petroleum Holdings, Inc., it underwent a name change in December 2013 to its current designation. The company lays claim to 166,064 net acres within the Permian Basin as recorded on December 31, 2021, and has identified total proved undeveloped reserves amounting to 86,592 thousand barrels of oil equivalent. With its headquarters established in Tulsa, Oklahoma, Laredo Petroleum continues to play a significant role in the energy sector, focusing on the exploration and production (E&P) activities within one of the most prolific oil-producing regions of the United States.

Products and Services

• Oil

  Laredo Petroleum engages in the extraction and sale of oil, a primary product in the global energy market. As a core component of their operations, the company targets the efficient recovery of oil from its reserves in the Permian Basin, ensuring a steady supply chain to meet the demands of their commercial clientele.

• Natural Gas Liquids (NGLs)

  Alongside crude oil, the company also deals with natural gas liquids, which are byproducts derived from the processing of natural gas. These NGLs, including ethane, propane, butanes, and natural gasoline, have a wide range of uses in the petrochemical process, domestic heating, and as feedstocks for the production of plastics and other chemicals. Laredo Petroleum capitalizes on the extraction and sale of these NGLs, adding significant value to its product portfolio.

• Natural Gas

  The exploration and production of natural gas constitute a significant part of the company's operations. Natural gas serves a dual purpose of being used both as a fuel and in the manufacture of a wide spectrum of chemical products. By tapping into the vast resources of the Permian Basin, Laredo Petroleum supplies natural gas to a variety of markets, catering to the energy needs and contributing to the energy independence of the United States.