About Laredo Energy
Laredo Energy has amassed over 80,000 acres in Webb County, Texas, overlaying an area known as the dry gas window of the Eagle Ford Shale. The company produces over 90 million cubic feet of natural gas per day, selling into the South Texas market with access to Mexican export channels, to LNG terminals for global sales, and into pipelines directly servicing Gulf Coast petrochemical facilities.
Laredo began as a conventional producer of natural gas in the shallow horizons of South Texas. In 2017, management embarked on a path to develop deeper zones which have proven to be prolific by nearby operators in the Eagle Ford Shale. In addition to 3D seismic data, which Laredo owns over its entire acreage position, extensive petrophysical and core analysis identified Laredo’s acreage to be highly prospective for Eagle Ford Shale, with the Lower and Upper Eagle Ford as primary and secondary targets, respectively. Laredo is backed by Avista Capital, with additional investments by Chambers Energy and Liberty Mutual.
In the near term, Laredo is focused on realizing the opportunity to grow substantially by optimizing its current production practices and by establishing a Lower Eagle Ford development program. In the longer term, the company plans to continually improve its cost structure and bring technology (and technology partners) to the forefront of operations to fully unlock the potential of Laredo’s South Texas asset.