Our Technology — Executive Overview

Through our proprietary Underground Gravity Drainage (UGD) technology, Laredo has transformed gravity, historically the greatest challenge to recovering oil, into a competitive advantage. By drilling into the targeted reservoir from below, we harness gravity to increase production dramatically while also lowering operating costs. Developed over 17 years and hundreds of millions of dollars in investment, UGD is a proven, scalable solution for revitalizing select mature oil fields worldwide.

In combination with our partners, we have invested more than $187 million in UGD beta test facilities and UGD production facilities, successfully demonstrating that accessing reservoirs from below unlocks stranded value and significantly improves recovery economics. Employing our proprietary global screening, simulation and modeling platforms and, funded additional investments totaling $60 million, we evaluate thousands of geological, reservoir and fluid variables to identify the world’s best UGD opportunities.

Once we identify the opportunity, our underground drilling system enables us to develop the reservoir through hundreds of thousands of feet of wellbore exposure from a single location, far exceeding traditional horizontal drilling footage and maximizing recovery with minimal surface disruption.

Our process is designed for the exploitation of distinct mature fields on every continent — onshore, under lakes and cities, and offshore — using existing infrastructure.

With our UGD technology, we stand ready to unlock the next generation of oil production efficiency.