...- Laredo Petroleum Inc., an Oklahoma-based exploration and production (E&P) company, announced its second material asset acquisition of 2021, which will increase its production weighting to crude oil and bolster its inventory of future drilling locations in the Permian Basin. - In addition, S&P Global Ratings raised its price assumptions for West Texas Intermediate (WTI) oil for the remainder of 2021 and 2022, and its Henry Hub natural gas price assumptions for the remainder of 2021, 2022, and 2023, resulting in a modest improvement in credit measures for Laredo. - As a result, we affirmed our 'B-' issuer credit rating on Laredo and revised the outlook to positive from stable. - At the same time, we affirmed our 'B' issue-level and '2' recovery ratings on the company's senior unsecured notes. - The positive outlook reflects the likelihood that we could raise the rating over the next 12 months if Laredo demonstrates its ability to efficiently integrate and operate its newly acquired assets,...
