Laredo Oil Inc. (LRDC) Establishing Foothold in Domestic Crude-Oil Production Space, Continuously Increasing Montana Acreage Position
EIA projects that crude oil prices will remain high enough to drive U.S. crude oil production to record-high levels in 2023 The agency observed that crude oil prices have generally increased since April 2020 Laredo has historically leased 23,739 mineral acres in the Western Williston Basin of Montana The company recently purchased 2,361 additional mineral acres, bringing the total Montana leased acres to 26,100 The U.S. Energy Information Agency (“EIA”) is looking for domestic crude oil production to reach record-high levels in the next two years, according to its February 2022 Short-Term Energy Outlook (https://ibn.fm/ZKHa3). Oil and gas exploration and…