- Laredo Petroleum (NYSE:LPI) says it closed a bolt-on acquisition of 4,475 contiguous net acres in Glasscock County, Tex., for $65M.
- LPI says the acquired acreage is located "in an area of high oil productivity with relevant offset wells indicating first year oil production 37% higher than expectations for legacy Laredo Wolfcamp drilling"; current net production is 1,400 boe/day (55% oil).
- LPI also says the acquisition will enhance its ability to generate combined high-single digit oil growth and free cash flow through 2022.