One-Page Deal Sheet
Laredo to Acquire PE-Backed Sabalo Energy in $715MM Deal
Laredo Petroleum Inc. Sabalo Energy, LLC
Announced Date
May 10,2021
Effective Date
April 01,2021
Close Date
July 01,2021
Transaction Type
Corporate
Enterprise Value (EV)($MM)
715
Asset/Basin:
["Permian Basin", "Midland Basin"]
TargetZones:
[]
Net Acres
% Oil:
Net Operated Locations:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian - Midland Basin
Country
United States
State
Texas
County
Howard
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Laredo Petroleum, Inc. has agreed to acquire the assets of PE-backed Sabalo Energy, LLC for $715 million in cash/stock.
Sabalo is backed by EnCap Investments L.P.
Laredo is funding the deal with $625 million in cash and approximately 2.5 million shares of Laredo common equity ($90 million).
The deal is expected to close July 1, 2021.
Acquisition Highlights: Acreage: ~21,000 contiguous net acres (86% operated, 100% held by production) directly offsetting Laredo's existing Howard County leasehold Drilling Locations: 270 total (~120 operated oil-weighted locations (91% WI) and ~150…Permian - Midland Basin Deal Activity In Last 12 Months
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| Sep-02-2025 |
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| Feb-12-2024 |
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| Dec-11-2023 |
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