Laredo Petroleum Inc. said Dec. 9 it closed on a $65 million bolt-on acquisition in Glasscock County, Texas, marking the second purchase in the Permian Basin the Tulsa, Okla.-based company has made so far this quarter.

“We are excited to announce another acquisition that delivers on our strategy of shifting our development to oilier, more capital-efficient acreage,” Jason Pigott, Laredo Petroleum’s president and CEO, said in a statement.

Since taking over as Laredo’s CEO in October, Pigott has begun to implement his strategic vision for the company, which includes opportunistically pursuing transactions of high-margin inventory to improve capital efficiency and free cash flow generation.

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