|Traded as||NYSE: LPI|
|Randy Foutch, Chairman & CEO
Jay Still, President & COO
Richard Buterbaugh, Executive VP & CFO
|44 thousand barrels of oil equivalent (270,000 GJ) per day |
|Revenue||US$606 million (2015) |
|-US$2.387 billion (2015) |
|-US$2.209 billion (2015) |
|Total assets||US$1.813 billion (2015) |
|Total equity||US$131 million (2015) |
Number of employees
As of December 31, 2015, the company had 125 million barrels of oil equivalent (760,000,000 GJ) of estimated proved reserves, of which 42% was oil and 58% was natural gas. All of these reserves were located in the Permian Basin. The company controlled 135,408 net acres in the Permian Basin, where it had 1,109 net producing wells. The company had average daily production in 2015 of 44 thousand barrels of oil equivalent (270,000 GJ).
The company drills almost all of its wells using what it calls the "earth model", which it claims increases efficiency.
In May 2013, Laredo 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.
- Laredo Petroleum: Management Team
- Laredo Petroleum 2015 Form 10-K
- Velda Addison (July 10, 2015). "Laredo Petroleum Finds Value In Earth Model". Hart Energy.
- "Laredo Petroleum Completes Broad Oak Energy Acquisition" (PDF). July 6, 2011.
- "Laredo Petroleum exits Anadarko Basin with $438 mln asset sale".
- "Laredo Petroleum boasts 15 of the top 20 wells in the Cline and Wolfcamp Formations". September 26, 2013.