Laredo Petroleum Inc. continued the build-out of its position in Howard County in West Texas through a bolt-on acquisition of 2,758 net acres.

The Permian Basin operator said in an Oct. 22 release it acquired the acreage, located adjacent to the company’s existing Howard County acreage, for $11.3 million. The acquisition increases Laredo Howard County position within the Permian’s Midland-sub-basin to 11,299 net acres.

“We have now closed on our third bolt-on acquisition in Howard County since our initial investment late last year, adding additional high-margin drilling locations at prices not seen since the introduction of horizontal drilling in the Midland Basin,” Jason Pigott, Laredo president and CEO, said in a statement.

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