Laredo Petroleum IPO valued at $2.4 billion

Laredo Petroleum, an independent energy company active in the Permian Basin and mid-continent, was taken public on December 15.  Based upon Friday's close, the company has a market cap of $2.4 billion.  Laredo has production of 22,842 boe/d and 324,000 net acres resulting in a valuation of $105,070 per flowing barrell and $7,407/net acre.