Laredo Petroleum completed the acquisition of western Glasscock leasehold from Pioneer Natural Resources for $230m.

Laredo Petroleum, an independent oil and gas producer, completed the acquisition of western Glasscock leasehold from Pioneer Natural Resources, an oil and gas exploration and production company, for $230m. "Upon closing this transaction, we will have acquired more than 55k net acres of highly productive, oil-weighted inventory in Howard and western Glasscock counties in just two years, fundamentally transforming Laredo. Seven years of inventory across these core areas will enhance our ability to deliver sustainable, long-term Free Cash Flow1 generation and to rapidly deleverage. Through transactions like today’s, we continue to demonstrate our ability to integrate premier locations into our operations and enhance our return profile while operating in an environmentally responsible and sustainable manner," Jason Pigott, Laredo President and CEO.