Laredo Petroleum completed the acquisition of Sabalo Energy from EnCap Investments for $715m.

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.