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Vital Energy, Inc. (formerly Laredo Petroleum, Inc.) is an American company engaged in hydrocarbon exploration. Incorporated in Delaware, its principal operational headquarters located in Tulsa, Oklahoma.
Laredo Petroleum has no connection or association with Laredo Oil, a penny stock E&P traded on the pink sheet over-the-counter market. The company drills almost all of its wells using what it calls the "earth model", which it claims increases efficiency.
As of December 31, 2020, the firm had of estimated proved reserves, of which 24% was petroleum, 36% was natural-gas condensates and 39% was natural gas. All of these reserves were in the Permian Basin, where the company controlled 133,199 net acres.
On December 15, 2025, Crescent Energy completed its acquisition of Vital Enerny.
In May 2013, the firm sold its assets in the Anadarko Basin in western Oklahoma and Texas to affiliates of EnerVest Ltd for $438 million to raise capital for its drilling activities in the Permian Basin.
In July 2016, a year before selling its interest in Medallion Pipeline, it acquired additional acreage in the Midland Basin for $125 million. In 2023, Laredo Petroleum rebranded to Vital Energy, Inc.
Oil and gas company, Crescent Energy, agreed to acquire the company in August 2025 in an all-stock deal valued at $3.1 billion, including debt. The transaction was completed three months later.
History
Founded in 2006 by Randy A. Foutch, the company acquired Broad Oak Energy five years later in a $1 billion transaction, expanding its presence in the Permian Basin and the Cline Shale. On December 20, 2011, the company became a public company via an initial public offering.
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External links
Categories: 2006 Establishments In Oklahoma, 2011 Initial Public Offerings, American Companies Established In 2011, Companies Based In Tulsa, Oklahoma, Companies Listed On The New York Stock Exchange, Energy Companies Established In 2006, Non-renewable Resource Companies Established In 2006, Oil Companies Of The United States, Petroleum In Oklahoma, 2025 Mergers And Acquisitions
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