Laredo continues its management's demonstrated practice of running a selective acquisition effort, concentrating on properties that present significant upside potential in addition to a solid base of production. Laredo confines its efforts to those areas where it has both regional geological and engineering expertise necessary to take advantage of the development opportunities presented in its targeted basins.
We focus on developing a balanced inventory of quality drilling opportunities that provide us with the operational flexibility to economically develop and produce oil and natural gas reserves from conventional and unconventional formations. Our properties are currently located in the prolific Permian Basin region of the United States, where we leverage our experience and knowledge to identify and exploit additional upside potential. We have been successful in delivering repeatable results through internally generated vertical and horizontal drilling programs.