Headquartered in Austin, TX, Laredo Oil, Inc. is a publicly traded oil and gas E&P (exploration and production) company. We are focused on the acquisition and development of quality mature oil fields, as well as undervalued conventional oil fields. Some of which are compatible with our proprietary EOR (Enhanced Oil Recovery) method.
We have leased over 24,000 acres in Montana and identified 10 initial drilling locations based on the Reserve Report of November 2021.
Laredo Oil’s plans include aggressively pursuing conventional oil development opportunities and acquiring select mature oil fields where management believes that the company can profitably use its proprietary Underground Gravity Drainage™ (UGD) method to recover stranded oil reserves (reserves previously considered to not be economically recoverable). The company believes that these fields are undervalued and offer the opportunity to be extremely productive with our UGD method. The Company has over 10 years of operating history and has expended in excess of $100 million on R&D to develop and improve UGD.
Management believes the costs of implementing the UGD method are significantly lower than those of other conventional EOR methods. Laredo Oil anticipates materially increasing the field oil production rate from prior periods.
Regardless of the property, Laredo Oil’s focus is on value, growth upside and free cash flow.