Laredo Oil, Inc.
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Mark S. See
- Full Time Employees
- 5
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 2021 Guadalupe Street Austin TX United States of America 78705
- IPO Date
- Nov 6, 2009
- CIK
- 0001442492
- Website
- laredo-oil.com
- Similar Companies
- Business
- Laredo Oil, Inc. is an oil exploration and production company specializing in the acquisition and development of mature oil fields through advanced recovery techniques. Founded in 2009 and headquartered in Austin, Texas, Laredo Oil primarily engages in acquiring mineral rights and revitalizing oil fields using its proprietary enhanced oil recovery method, Underground Gravity Drainage™ (UGD), which increases production efficiency from mature fields. The company offers core products and services including oil exploration, development, and production; leasing of mineral rights; and application of enhanced recovery technologies targeting stranded oil reserves in conventional oil fields primarily in the Western Williston Basin of Montana. Recent major developments include raising $1.13 million via a private offering of subordinated promissory notes and warrants to fund UGD-enhanced oil recovery projects, and expanding mineral rights holdings to approximately 45,246 gross acres through its wholly owned subsidiary Lustre Oil Company, LLC. Laredo Oil also strategically partners with entities such as Texakoma Exploration and Production, LLC to coordinate drilling operations and reduce costs, with ongoing drilling and development programs expected to increase operational cash flow in 2024. The company’s business focus remains on unconventional recovery of oil in mature fields using innovative technology, positioning it for growth in domestic and potentially international enhanced oil recovery markets. Its common stock trades on the Pink Sheets under the ticker symbol LRDC.
Laredo Oil Unveils Commercialization of Technology Potentially Unlocking Significant Reserves of Stranded Oil
Laredo Oil Raises $1,132,200 in Private Offering of Short-term Notes and Warrants
Laredo Oil Announces Cranston Saltwater Disposal Well is Operational
Laredo Oil Initiates Exploratory Drilling Project in Montana West Fork Field
Laredo Oil Raises $750,000 in Private Offering of Unregistered Common Shares
Laredo Oil Announces that Texakoma Exercised its Option to Drill Eight Additional Wells under Existing Development Agreement
Laredo Oil, Inc. Announces Agreement to Settle Litigation with A&S Minerals Development Company, LLC
Laredo Oil, Inc. Announces Agreement to Drill Up to Three Wells in Montana
Laredo Oil, Inc. Announces Discovery of Free Oil in Connection with Agreement with Texakoma Exploration and Production
Laredo Oil, Inc. Announces Promising Results from Drilling Under Agreement with Texakoma Exploration and Production