Laredo Petroleum Inc. operations oil and gas fields, gathering pipelines, and processing plants with assets in Texas. The company is divided between the Exploration & Production and Midstream & Marketing business units. Common shares are listed on the NYSE (LPI) exchange.
Randy Foutch founded Laredo in 2006 after building three other exploration and production companies. The company acquired Broak Oak Energy and completed a public offering in 2011. In May 2021, the company announced the sale of a 37.5% interest of its leasehold in Reagan and Glasscock counties to Sixth Street for $405 million. Laredo acquired Sabalo Energy for $625 million in cash and 2.5 million shares in July 2021.