Laredo Petroleum Announces Senior Management Change
January 19 2016 - 5:11PM
Laredo Petroleum, Inc. (NYSE:LPI) (“Laredo” or “the Company”) today
announced that Jay P. Still has resigned as President, Chief
Operating Officer and member of the Board of Directors to pursue
other interests, effective January 28, 2016. The Board of Directors
has determined that his duties will be assumed by Chairman and
Chief Executive Officer, Randy A. Foutch.
“I would like to thank Jay for his efforts over the last two and
a half years and wish him well in his future endeavors,” said Mr.
Foutch. “I look forward to continuing to direct Laredo’s
operational activities to execute the development plan for our
Permian-Garden City asset. Our team of talented geoscience,
engineering and operations professionals has done an exceptional
job of furthering our understating of the asset and implementing
our strategy. We are continuing the process of incorporating new
data to optimize well economics and add value for our
shareholders.”
About LaredoLaredo Petroleum, Inc. is an
independent energy company with headquarters in Tulsa, Oklahoma.
Laredo's business strategy is focused on the acquisition,
exploration and development of oil and natural gas properties
primarily in the Permian Basin in West Texas.
Additional information about Laredo may be found on its website
at www.laredopetro.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined under Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
that address activities that Laredo assumes, plans, expects,
believes, intends, projects, estimates or anticipates (and other
similar expressions) will, should or may occur in the future are
forward-looking statements. The forward-looking statements are
based on management's current belief, based on currently available
information, as to the outcome and timing of future events.
General risks relating to Laredo include, but are not limited
to, the decline in prices of oil, NGL and natural gas and the
related impact to financial statements as a result of asset
impairments and revisions to reserve estimates, and other factors,
including those and other risks described in its Annual Report on
Form 10-K for the year ended December 31, 2014, its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2015, its
Quarterly Report on Form 10-Q for the quarter ended September 30,
2015 and those set forth from time to time in other filings with
the SEC. These documents are available through Laredo’s website at
www.laredopetro.com under the tab “Investor Relations” or through
the SEC’s Electronic Data Gathering and Analysis Retrieval System
at www.sec.gov. Any of these factors could cause Laredo's actual
results and plans to differ materially from those in the
forward-looking statements. Therefore, Laredo can give no assurance
that its future results will be as estimated. Laredo does not
intend to, and disclaims any obligation to, update or revise any
forward-looking statement.
Contact:Ron Hagood: (918) 858-5504 –
RHagood@laredopetro.com
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