Laredo Petroleum, Inc. (LPI) (“Laredo” or “the Company”) today announced that Jay P. Still has resigned as President, Chief Operating Officer and member of the Board of Directors to pursue other interests, effective January 28, 2016. The Board of Directors has determined that his duties will be assumed by Chairman and Chief Executive Officer, Randy A. Foutch.
“I would like to thank Jay for his efforts over the last two and a half years and wish him well in his future endeavors,” said Mr. Foutch. “I look forward to continuing to direct Laredo’s operational activities to execute the development plan for our Permian-Garden City asset. Our team of talented geoscience, engineering and operations professionals has done an exceptional job of furthering our understating of the asset and implementing our strategy. We are continuing the process of incorporating new data to optimize well economics and add value for our shareholders.”
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 primarily in the Permian Basin in West Texas.
Additional information about Laredo may be found on its website at www.laredopetro.com.