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Laredo Petroleum Announces Transformative Transactions Acquisition of High-Margin, Oil-Weighted Howard County Leasehold Divestiture of Gas-Weighted Reserves in Reagan/Glasscock Counties TULSA, OK, May 09, 2021 (GLOBE NEWSWIRE) Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today announced the signing of a purchase and sale agreement to acquire the assets of Sabalo Energy, LLC (“Sabalo”), a portfolio company of EnCap Investments L.P. (“EnCap”), and a non-operating partner for approximately $715 million, subject to customary closing price adjustments, comprised of $625 million in cash and approximately 2.5 million shares of Laredo common equity. Additionally, the Company announced the sale of 37.5% of its operated proved developed producing (“PDP”) reserves in its legacy leasehold in Reagan and Glasscock counties (“Legacy”) to an affiliate of Sixth Street Partners, LLC (“Sixth Street”) for proceeds of $405 million and additional potentia

United statesHoward countyHoulihan lokeyJason pigottDoug swansonRon hagoodWillkie farr gallagherCompany senior secured credit facilityExchange commissionLaredo petroleum incSabalo energySecurities exchangeOrganization of petroleum exporting countriesWhite caseOil weighted howard countyGas weighted reserves