The story
Founded in 2006 by Randy A. Foutch, the company acquired Broad Oak Energy five years later in a $1 billion transaction, expanding its presence in the Permian Basin and the Cline Shale. On December 20, 2011, the company became a public company via an initial public offering.
In May 2013, the firm sold its assets in the Anadarko Basin in western Oklahoma and Texas to affiliates of EnerVest Ltd for $438 million to raise capital for its drilling activities in the Permian Basin.
In July 2016, a year before selling its interest in Medallion Pipeline, it acquired additional acreage in the Midland Basin for $125 million. In 2023, Laredo Petroleum rebranded to Vital Energy, Inc.
Oil and gas company, Crescent Energy, agreed to acquire the company in August 2025 in an all-stock deal valued at $3.1 billion, including debt. The transaction was completed three months later.
From Wikipedia’s article on Vital Energy, shared under CC BY-SA 4.0.5