One-Page Deal Sheet
Laredo Acquires Bolt-On Acreage Position in the Midland Basin
Laredo Petroleum Inc. Not Disclosed
Announced Date
July 14,2016
Close Date
July 13,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
125
Asset/Basin:
{"Permian (Midland Basin)"}
TargetZones:
{Spraberry,"Upper Wo
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Glasscock ,Reagan
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Laredo Petroleum, Inc. has signed a purchase and sale agreement for additional acreage within the Company's existing footprint in the Midland Basin for $125 million.
The acquisition secures additional rights to the Spraberry interval, enables the drilling of additional 10,000-foot or longer locations, facilitates the new Western Glasscock production corridor and increases the Company's working interest in current leasehold in western Glasscock and Reagan counties, Texas.
The acquisition adds approximately 9,200 net acres, of which approximately 6,300 are in the Spraberry interval and…
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