TULSA, OK, July 19, 2017 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE:LPI) (“Laredo” or the “Company”) today confirmed that Medallion Gathering & Processing, LLC (“MGP”), the sole owner of the Medallion – Midland Basin pipeline system, has initiated a process to potentially sell 100% of the ownership interests in MGP. Laredo’s wholly-owned subsidiary Laredo Midstream Services, LLC owns 49% of the ownership interests in MGP.
At this time there can be no assurance that such potential sale will ultimately be consummated or, if consummated, the specific terms of such sale. Laredo anticipates that it will have no further comments on this potential transaction until such time as a deal is consummated, if applicable.
Laredo 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, and the transportation of oil and natural gas from such properties, primarily in the Permian Basin in West Texas.
Additional information about Laredo may be found on its website at www.laredopetro.com.