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Laredo Petroleum Holdings, Inc. Stage: Venture Year of Investment: 2007 Web Site : http://www.laredopetro.com Stock Symbol : NYSE: LPI |
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Laredo Petroleum Holdings, Inc. is a Tulsa, Oklahoma-based exploration and production company focused on oil and gas resources in the Mid-Continent region of the United States. The company is focused on the horizontal Cline and Wolfcamp plays in the Permian Basin as well as the Granite Wash play in the Anadarko Basin.
Laredo represents the third partnership between Warburg Pincus and CEO Randy Foutch, a veteran oil and gas entrepreneur who previously formed two other start-ups with institutional investment from Warburg Pincus: Lariat Petroleum (founded in 1997 and sold in 2001) and Latigo Petroleum (founded in 2002 and sold in 2006).
Warburg Pincus led an initial line of equity financing to Laredo in May 2007, and in 2008 led an extension to that line of equity financing. In December 2011, Laredo successfully completed its IPO on the New York Stock Exchange (NYSE: LPI).
