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Laredo Petroleum Stage: Venture Date of Investment: 2007
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Laredo Petroleum, headquartered in Tulsa, Oklahoma, is an independent oil and gas exploration and production company that was formed to conduct an active drilling program and to make strategic acquisitions in the Mid-Continent Region of the United States. The company is led by Randy Foutch, an accomplished oil and gas executive who has spent most of his career focused on the Mid-Continent Region and who previously formed three successful E&P companies in that area. Most recently, Foutch founded and built Latigo Petroleum, a successful exploration and production company that was formed in 2002 and financed by Warburg Pincus. Latigo was sold to Pogo Producing Company in 2006. Working together with Foutch and his colleagues for a third time, Warburg Pincus in 2007 completed an initial round of financing to form Laredo. Since formation, Laredo has closed a number of asset and land acquisitions and has built sizable positions in the Texas Panhandle as well as the Anadarko and Midland Basins.
