Laredo Petroleum (LPI) - profile

An independent exploration and production company based in Tulsa, Laredo Energy owns 126,500 acres in the Permian Basin in western Texas and 38,000 acres in the Anadarko Granite Wash in the Texas Panhandle and western Oklahoma.

• Raising cash to fund oil and gas production in U.S. shale plays, a focus of intense investment interest for the energy sector and Wall Street alike.
• Web:  http://laredopetro.com/

The company was founded in 2006 by CEO Randy Foutch, 60, a board member at Helmerich & Payne (HP) and Bill Barrett Corp. (BBG) . In 1996, he founded Lariat Petroleum, sold to Newfield Exploraton Inc. (NFX) in 2001.

Private-equity firm Warburg Pincus, members of management and its independent directors, have invested $710 million of equity in Laredo

For the nine months ended Sept. 30, the company reported net income of $104 million and revenue of $371.3 million, compared to $51 million earned on revenue of $157 million in the year-ago period.