Announced
Completed
Financials
Tags
Acquisition
Majority
Integrated Oil and Gas
Friendly
Domestic
Private
Single Bidder
oil and gas company
United States
Private Equity
Completed
Synopsis
Laredo Petroleum, an American company engaged in hydrocarbon exploration, completed the acquisition of the assets of Sabalo Energy, an exploration and production company, from EnCap Investments, a provider of growth capital to the independent sector of the US oil and gas industry, for $715m. "This transaction complements Laredo’s existing asset base and strategy and accelerates the Company’s transformation to becoming a leading independent operator in the Midland Basin. Laredo is well positioned to maximize value from the Sabalo assets and we view this transaction as compelling for Laredo shareholders, including EnCap, as part of this transaction," Doug Swanson, EnCap Managing Partner.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.