Laredo Sells Anadarko Basin Assets to Focus on Permian

摘要

Laredo Petroleum said it has agreed to sell all of its Anadarko Basin assets in western Oklahoma and the Texas Panhandle to affiliates of private equity firm EnerVest for $438 million. Laredo will use the funds from the divestment to ramp up its operations in the oil-prone Permian Basin of West Texas, where the company has already planned to invest almost 90% ($640 million) of its 2013 capex budget of $725 million (OD Dec.18'12).