Development and Acquisition of Natural Gas and Oil Reserves

President's Message

Since 1983, the Laredo Energy management team has focused exclusively on natural gas development in South Texas. We have drilled more than 300 wells in Webb and Zapata counties and continue to drill about 20 to 30 wells per year (map).

We actively pursue new leasing opportunities and producing property acquisitions as they become available. Primarily our acquisitions and leases are in Webb and Zapata counties, two of the leading natural gas producing counties in Texas. Extending throughout these counties is the Lobo Wilcox trend, one of the largest, conventional gas producing regions in the United States. This play has produced over 6.4 tcf gas equivalent from more than 4,200 completions. We are also focused on developing our 125,000-acre position in Northern Webb County after successful horizontal completions in unconventional plays including the Eagle Ford, Austin Chalk, Olmos, and Escondido formations, along with vertical discoveries in the San Miguel and Wilcox. We are also leasing in Brazos, Madison and Robertson counties in Southeast Texas where we will pursue the emerging Eaglebine play.

We are a significant taxpayer in Webb and Zapata counties and we hire dozens of local contractors with hundreds of employees working on Laredo Energy projects. We also generate significant revenue for local landowners with whom we have natural gas leasing agreements.

Texas is a great place to have a natural gas business. We look forward to continuing to grow Laredo Energy in this vibrant state for many years to come.

Sincerely,
Glenn D. Hart
President and CEO