NEW YORK, NY / ACCESSWIRE / September 10, 2018 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report on Laredo Petroleum, Inc. (NYSE: LPI), an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties.
As of December 31, 2017, it had assembled 124,843 net acres in the Permian Basin; and had total proved reserves of 215,883 thousand barrels of oil equivalent.
Get the company's Q3 2018 guidance analysts review, and price target READ MORE
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In the second quarter of 2018, Laredo contracted firm transportation to the Gulf Coast on the Gray Oak crude oil pipeline, which is expected to begin transporting crude oil in the fourth quarter of 2019. The agreement allows the Company to transport 25,000 gross barrels of oil per day ("BOPD") in the first year of operation and 35,000 gross BOPD in the remaining six years of the contract. Laredo currently transports 10,000 gross BOPD to the Gulf Coast on the Bridgetex crude oil pipeline and, when combined with the Gray Oak volumes, a substantial portion of the Company's gross production will be priced in the Gulf Coast when the Gray Oak pipeline begins service.
Read about the company's operations and recent financial guidance READ MORE
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SOURCE: Traders News Source