Sixth Street Partners, a global investment firm, completed the acquisition of a 37.5% stake in operated proved developed producing of Laredo Petroleum, an independent energy company, for $405m. "The transformational impact for Laredo of the combined transactions is significant. Upon closing, we will be positioned for sustainable Free Cash Flow1 generation and significant deleveraging, have more than 30k highly productive, contiguous net acres in Howard County and a near-term pathway to increasing our oil cut to more than 50% from the current 30%. The value derived from employing our efficient, low-cost operations in Howard County has already been established on our current leasehold and we expect to perform equally well on this new acreage. Additionally, we will be applying our ESG best practices to the development of this acreage, maintaining our prior commitments to reducing greenhouse gas intensity, methane emissions and eliminating routine flaring," Jason Pigott, Laredo President and CEO.