Gotta Whole Lotta Love

Gotta Whole Lotta Love

 If anything, 2020 has proven that the oil and gas industry still has a whole lotta life left for the foreseeable future. Times are uncertain, for certain. But like they say on the big screen, there’s no crying in baseball. Which aptly describes our producer and midstream clients who not only look for every advantage they can get right now but also are preparing for their energy business future. For some, that means immediate measures to identify and plug holes where revenues go lost, secure premium markets for gas sales, and take an electron microscope to contracts and agreements in need of renegotiation to boost bottom lines. But it also means finding and acting on new and emerging opportunities in a period of consolidation and industry evolution we see happening every day. Aside from the number of audits and due diligence projects REC performs throughout the year, we’re also at work on potential client A&Ds and producer services, facilitating design and commissioning of a new high-pressure gas line in the Mid-Continent, reporting on flared gas volumes, and exploring all the possibilities hydrogen offers as a fuel of the future.

What do you think?

Learn more about us at www.ReeseEnergyConsulting.com.

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Laredo Bulks Up in the Permian

Laredo Bulks Up in the Permian

With all the Okla., oil and gas acquisitions practically tripping over themselves lately, Reese Energy Consulting today is looking at a quieter deal you might have missed but we think is worth noting. Tulsa-based Laredo Petroleum is no rookie in the Permian Basin. The company embraced horizontal drilling early on, snapping up land like a spirited Sooner, and completing its first well in 2009. Two years later, this E&P acquired Dallas-based Broad Oak Energy for $1 billion, bolstering its position in the Midland and making the company a formidable independent there with 140,000 mostly contiguous acres. And contiguous is the operative word to best describe Laredo’s strategy as a Permian pure player with the ability—especially this year—to reduce debt, generate handsome cash flow, employ technology, and make a new bolt-on acquisition. The $11.3 million deal, announced two days before Laredo released its 3Q earnings report at October’s end, includes 2,758 net acres and 210 BOED in Howard County, increasing the company’s presence there to 11,299 acres.

Laredo Petroleum

Laredo Petroleum, Inc. is a company engaged in hydrocarbon exploration organized in Delaware and headquartered in Tulsa, Oklahoma. Laredo Petroleum has no connection or association with Laredo Oil, traded on the over-the-counter market.

www.laredopetro.com

​What do you think?

Learn more REC and our range of upstream, midstream, and downstream services at www.ReeseEnergyConsulting.com.

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