Welcome to our dedicated page for Laredo Oil news (Ticker: LRDC), a resource for investors and traders seeking the latest updates and insights on Laredo Oil stock.
Laredo Oil, Inc. reports developments in oil exploration and production, with company updates centered on Montana field activity and its proprietary Underground Gravity Drainage™ method for mature reservoirs and stranded oil. News includes work tied to West Fork, Midfork and Lustre-area assets, including drilling preparations, well results, saltwater disposal capacity and production-readiness updates.
Recurring announcements also cover subsidiaries such as Lustre Oil Company, LLC and Hell Creek Crude, LLC, along with private capital actions involving common shares, subordinated promissory notes and warrants. These updates frame LRDC as an OTC-traded oil issuer pursuing field development, water-disposal infrastructure and enhanced oil recovery applications.
Laredo Oil, Inc. (OTC: LRDC) released a reserve report estimating a total of $41 million in cumulative cash flow from oil interests in the Western Williston Basin, Montana. This report, effective Nov. 1, 2021, was prepared by an independent engineering firm and aligns with SEC regulations. Laredo Oil's subsidiary, Lustre Oil Company, LLC, has identified ten wells for completion on its 23,739 acres of mineral rights. CEO Mark See expressed optimism about further expansion potential based on the reserve findings.