Laredo Buys Broad Oak Energy

Laredo Petroleum will acquire fellow Warburg Pincus portfolio company Broad Oak Energy in a deal valued at $1 billion, the companies announced Friday. The transaction is expected to close at the beginning of July. Broad Oak Energy is an oil and gas exploration and production company focused on the Permian Basin of West Texas. It was formed in 2005 and funded by Warburg Pincus in 2006. Laredo was formed in 2006 and is based in Tulsa, Oklahoma.

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