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A&D - Laredo adds higher-margin inventory in new area for $130MM - November 2019



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Midland Basin-focused Laredo Petroleum struck a $130 million all-cash deal with privately held Cordero Energy to purchase mostly undeveloped Tier 1 acreage in a new operational area in Howard County, Texas, including some royalty acreage. The first upstream acquisition announced by Laredo with a disclosed value above $20 million since 2016, it will enable the company to utilize cash flow from its existing production base, mainly in Glasscock and Reagan counties, to develop higher-margin......
 
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