Laredo Petroleum to use revolver borrowings for property purchase

By Sarah Lizee

Olympia, Wash., Nov. 5 – Laredo Petroleum, Inc. is using borrowings under its existing revolving credit facility to finance its $130.25 million acquisition of some of the oil and gas properties and related assets and contracts of Cordero Energy Resources LLC, according to an 8-K filing with the Securities and Exchange Commission.

The acquisition is expected to close around Dec. 12 and is subject to customary closing conditions.

Laredo Petroleum is an oil and gas company based in Tulsa, Okla.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.