Laredo Energy

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Description

Laredo Energy was founded in October 2001 to acquire and develop natural gas reserves in South Texas. Currently, we are in the process of acquiring leases and drilling wells based on approximately 1,000 square miles of 3-D seismic. Our current acreage position is approximately 15,000 gross acres. Additionally, we are leasing mineral rights from local landowners.We also plan to go after large acquisitions as they become available. Primarily our acquisitions and leases are in Webb and Zapata Counties, the leading natural gas producing counties in Texas. Extending throughout these counties is the Lobo Wilcox Trend, one of the largest gas producing regions in the United States. This play has produced more than 6.4 Tcf gas equivalent from more than 4,200 completions.We are a significant taxpayer in Webb and Zapata Counties and we hire dozens of local contractors with hundreds of employees working on Laredo Energy projects. We also generate significant revenue for local landowners with whom we have natural gas leasing agreements.

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