Laredo Energy has secured a total of $130 million in private equity commitments from Avista Capital Partners and Liberty Energy Holdings, which is managed by Old Ironsides Energy, LLC. Laredo Energy will use the equity financing to support its drilling program.

Since its formation in 2001, Laredo Energy has drilled more than 200 natural gas wells in South Texas. The company will build on this success by expanding operations to include a new oil drilling program targeting the Eaglebine play in East Central Texas while continuing to drill multiple gas formations in South Texas.

Tags: Laredo Energy