UPDATE: Laredo Petroleum Slips 2% But Off New Year Low - Approves 2013 Capital Budget of $725 Million

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Laredo Petroleum Holdings, Inc. ( LPI ) is down 2.02% to $17.42, just above the new year low of $17.11. The company earlier said that its board of directors approved a $725 million capital budget for 2013, excluding acquisitions.

The company's 2013 capital program is primarily focused on the continued delineation and development of its approximate 142,000 net acres in its core Garden City area of the liquids-rich Permian Basin, where the company has identified four stacked shale zones with proven horizontal development potential.



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This article appears in: Investing , Commodities

Referenced Stocks: LPI

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