One-Page Deal Sheet
Laredo Petroleum Bolts On Midland Basin Acreage for $22.5MM
Laredo Petroleum Inc. Not Disclosed
Announced Date
February 12,2020
Close Date
February 12,2020
Transaction Type
Acreage
Enterprise Value (EV)($MM)
23
Location
Calculated Metrics( EV/Category)
Region
Permian - Midland Basin
Country
United States
State
Texas
County
Howard
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
In its Q4 2019 report, Laredo Petroleum Inc. reported that in February 2020, the company executed a $22.5 million bolt-on transaction in the Midland Basin.
The seller was not disclosed.
The deal added 1,100 net acres to its Howard County, TX position.
Updated PositionThe acquisition increases the Company's working interest on its operated acreage from 83% to 96%, bringing Laredo's Howard County leasehold to 8,380 net acres (99% operated).
The transaction increases the Company's operated inventory in Howard County to 130 gross (124 net) primary locations in the Lower Spraberry, Upper Wolfcamp…
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