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Laredo Oil
Mark See runs Laredo Oil, a public oil E&P firm deploying Underground Gravity Drainage to recover stranded oil from mature fields.
Laredo Oil
Laredo Oil was founded in 2009 and is led by Chairman and CEO Mark See. The company is structured as a publicly traded entity (OTC Pink Sheets: LRDC) and operates through wholly owned subsidiaries including Hell Creek Crude, LLC, Lustre Oil Company LLC and Stranded Oil Resources Corporation. The firm pursues a dual strategy: conventional oil recovery alongside its proprietary Underground Gravity Drainage (UGD) technique, a gravity-based enhanced oil recovery method. Its asset-class focus is exclusively oil exploration and production, targeting mature onshore fields in the US. Geographic footprint centers on Montana, where Laredo holds over 37,900 net acres under lease and has identified six prime UGD target fields in North America and globally. The company has invested $51 million in proprietary simulation and screening software to evaluate oil fields globally. Confirmed portfolio assets include the Midfork field in Valley County, Montana, where Laredo drilled a well in mid-2024. Laredo Oil has deployed over $187 million into research, development and production facilities, including a Beta test facility (per the firm, 2024). The company currently reports over 37,900 net acres under lease and has invested $51 million in its simulation software. In July 2024, Laredo announced that its Reddig 11-21 well in the Midfork field had reached total depth and encountered oil shows in three zones. The firm also maintains a subsidiary, Stranded Oil Resources Corporation, to develop UGD projects globally. Laredo's structural differentiator is its focus on "stranded" oil recovery: mature fields that have been conventionally produced for over 95 years but still contain an estimated 78% of original oil. The company's UGD technique relies on gravity drainage rather than pressure maintenance, a contrarian approach in an industry dominated by hydraulic fracturing and water flooding. Its public company structure, with stock traded on the Pink Sheets, provides transparency unusual for a firm in the oil E&P space.
General information
Firm type
Asset Manager
Year founded
2009
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Austin
Corporate office
Austin, TX, United States
Principals
Mark See
Chairman and CEO
Sector focus
Frequently asked questions
Who runs investment decisions at Laredo Oil?
Mark See serves as Chairman and CEO and is the named executive leading the firm. Investment decisions appear to be made by See and potentially a management team, though no other principals are publicly named on the firm's website.
How does Laredo Oil source proprietary deal flow?
Laredo targets mature oil fields with significant remaining oil in place — fields that have been conventionally produced for decades but still contain an estimated 78% of original oil. The firm uses proprietary simulation and screening software, in which it has invested $51 million, to evaluate oil fields globally and select optimal UGD targets (per the firm, 2024).
Is Laredo Oil structured as a family office or a public company?
Laredo Oil is a publicly traded exploration and production company, not a family office. Its common stock trades on the OTC Pink Sheets under the ticker LRDC. The firm operates through wholly owned subsidiaries including Hell Creek Crude, LLC and Stranded Oil Resources Corporation.
What investment stages does Laredo Oil typically target?
Laredo focuses on acquiring and revitalizing mature oil fields. The firm's strategy involves both conventional oil recovery and its proprietary UGD enhanced recovery technique. It typically targets fields that have been producing for over 95 years but still hold substantial stranded oil.
Does Laredo Oil participate in fund commitments or only direct deals?
Laredo Oil operates as a direct E&P company, not a fund manager. It finances its drilling programs through operating cash flow and investor participations. In January 2024, the firm entered a participation agreement with accredited investors to fund a development well in Montana.
Where does the underlying wealth come from?
Laredo Oil's wealth origin is not publicly disclosed as tied to a specific family. The firm is a publicly traded company, and its capital structure includes equity financing, convertible debt from investors, and operating cash flow from production.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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