Akin Gump Aids Laredo On $438M Asset Sale To EnerVest

Law360, New York (May 21, 2013, 1:17 PM EDT) -- Laredo Petroleum Holdings Inc. will sell all of its oil and gas assets in the Anadarko Basin in Oklahoma and Texas to EnerVest Ltd. for $438 million in cash, the Oklahoma-based independent energy company said Tuesday.

Houston-based EnerVest will pick up roughly 104,000 net acres held by Laredo in the Anadarko basin, primarily in western Oklahoma and the Texas Panhandle. Laredo plans to use proceeds from the sale to ramp up its exploration and production activities in the nearby Permian Basin.

The deal has an effective...
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