Permian Producer Laredo Petroleum Strikes $715 Million Deal for Sabalo, Partner

Purchased the assets of Sabalo Energy and a nonoperating partner including roughly 21,000 contiguous net acres directly offsetting Laredo’s existing Howard County, TX, leasehold in the Midland Basin of the Permian; current production is about 14,500 boe/d (83% oil, three stream) and PDP reserves are approximately 30 million boe (73% oil, three stream).