Laredo Petroleum, Inc. announced today that its eight member bank group, led by Bank of America, N.A., has increased its available bank line by $50 million, effective May 7, 2009 to a total of $180 million. This follows a $25 million increase in December 2008. The bank credit line is in addition to Laredo's initial $300 million equity program, which was increased to $600 million in October 2008 with Warburg Pincus and Laredo Management.Read More
Randy Foutch is no stranger to uncertain futures. After all, the longtime OIPA member has started four companies in the past two decades, founding them with money from his own pocket with the support from a private equity firm.
OIPA Wellhead, April 2009 issue
Schlumberger Business News
Fall 2008 - Winter 2009 issue
The company, which recently established an office in Midland and is active in the Mid-Continent and Permian Basin, has just announced a second round of equity financing of up to $300 million with Warburg Pincus LLC, a global private equity firm. Warburg Pincus had made an initial $300 million equity financing commitment in July 2007 as Laredo was beginning operations.Read More
Laredo Petroleum Announces Second Round of Equity Financing of up to $300 Million from Warburg PincusNovember 10, 2008
Laredo Petroleum, a rapidly growing independent oil and gas company with headquarters in Tulsa, Oklahoma, today announced that it has closed a second round of equity financing of up to $300 million with Warburg Pincus LLC, the global private equity firm, along with Laredo Petroleum's senior management team.Read More
Randy Foutch offered a one-word answer for America's energy crisis: Drill.
"We just need to do a lot more of what we're doing," said the chairman and chief executive of Tulsa-based Laredo Petroleum, which is active in the Permian, Anadarko and Arkoma basins.
Oil and Gas Investor
By John A. Sullivan - News Editor
Linn Energy to Sell Verden Assets in Oklahoma to Laredo Petroleum for $185 Million; Retains the Option to Participate in Future DrillingJune 03, 2008
Linn Energy, LLC (Nasdaq: LINE) announced today that it has agreed to sell certain of its assets in the Verden area in Oklahoma to Laredo Petroleum, Inc. for cash consideration of $185 million, subject to closing adjustments.Read More
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