Tulsa-based Laredo Petroleum said last month it is changing its name to Vital Energy. In Laredo’s 2022 environmental, social and governance and climate risk reports, Jason Pigott, president and CEO, said Laredo’s rebrand effective Jan. 9 is “consistent with its goal to ensure everyone has access to the reliable, affordable energy resources needed to power their lives.” Laredo’s activity is focused on Permian Basin in Glasscock, Howard and Reagan counties.
Pigott referenced Laredo’s “significant emissions reductions since 2019” and “our commitment to further improvement through aggressive short- and medium-term emissions reduction targets.” Laredo said its methane intensity was reduced by 46 percent in 2021 from 2020 and by 63 percent from 2019. Capex in 2022Q4 was forecast at $135 million to $145 million.