NetworkNewsBreaks – Laredo Oil Inc. (LRDC) Looki
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Posted On: 03/16/2022 4:46:48 PM
NetworkNewsBreaks – Laredo Oil Inc. (LRDC) Looking to Contribute to Projected Increase in US Oil Production
Laredo Oil (OTC: LRDC) is in a strong position to benefit from the forecasted growth in domestic crude oil production. The U.S. Energy Information Agency (“EIA”), in its February 2022 Short-Term Energy Outlook (“STEO”), projected that crude oil prices will remain high enough to drive U.S. crude oil production to record-high levels in 2023, reaching a forecast 12.6 million barrels per day (“b/d”), up 760,000 b/d from 2021. “Laredo is looking to contribute to increased oil production. The company’s strategy involves a focus on unlocking value when others have overlooked it, emphasizing free cash flow that allows the company to seize opportunities quickly and taking a disciplined approach by de-risking projects and exercising care in incurring expenses and allocating capital,” reads a recent article. “Following this strategy, Laredo has leased 26,100 mineral acres in the Western Williston Basin of Montana; those leases were obtained at favorable prices during the most recent down cycle… The company plans to drill the first development well at one of the first 10 potential locations it has identified in the coming months. If that well yields the anticipated results, the company will begin drilling additional wells in the area as soon as practical.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Laredo Oil (OTC: LRDC) is in a strong position to benefit from the forecasted growth in domestic crude oil production. The U.S. Energy Information Agency (“EIA”), in its February 2022 Short-Term Energy Outlook (“STEO”), projected that crude oil prices will remain high enough to drive U.S. crude oil production to record-high levels in 2023, reaching a forecast 12.6 million barrels per day (“b/d”), up 760,000 b/d from 2021. “Laredo is looking to contribute to increased oil production. The company’s strategy involves a focus on unlocking value when others have overlooked it, emphasizing free cash flow that allows the company to seize opportunities quickly and taking a disciplined approach by de-risking projects and exercising care in incurring expenses and allocating capital,” reads a recent article. “Following this strategy, Laredo has leased 26,100 mineral acres in the Western Williston Basin of Montana; those leases were obtained at favorable prices during the most recent down cycle… The company plans to drill the first development well at one of the first 10 potential locations it has identified in the coming months. If that well yields the anticipated results, the company will begin drilling additional wells in the area as soon as practical.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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