- Laredo received a reserve report valuing a small portion of its subsidiary’s Western Williston Basin properties interests at $41 million of cumulative cash flow (discounted at 10%)
- CEO Mark See highlighted the report as confirmation of potential for the first 10 well package at the property in northeast Montana
- Oil price forecasts have risen sharply early in 2022 with growing geopolitical tension, declining global production and rebounding demand
Laredo Oil (OTC: LRDC), an oil and gas exploration and production (E&P) company, is focused on acquiring, developing and operating conventional oil and gas properties. During a recent down cycle, the company leased 23,739 mineral acres in the Western Williston Basin of Montana at favorable prices, and it continues to make progress toward developing this asset.
In November, Laredo announced receiving a reserve report from an independent petroleum engineering firm estimating that interests attributable to certain properties in…
NOTE TO INVESTORS: The latest news and updates relating to LRDC are available in the company’s newsroom at https://ibn.fm/LRDC
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