Laramie Energy’s business strategy is to focus on finding and developing oil and gas from unconventional resource plays complementary to our existing position in the U.S. Rockies.
Unconventional resource plays include tight sands, coal seams, and shales. Commercially viable unconventional resource plays are found in highly concentrated accumulations that cover a broad sub-surface area. Once they have been identified and after pilot studies have determined the appropriate drilling, completion and production technologies to utilize, unconventional resource plays have relatively low geologic and commercial risks.
The development of resource plays is built around large scale drilling programs that repeat common operations in an assembly line fashion which capture economies of scale that drive down costs. Unlike most conventional exploration and development, resource plays are relatively predictable in timing, costs, production rates and reserve additions and can provide steady long-term reserves and production growth.
Laramie Energy is backed by equity commitments exceeding $500 million from Avista Capital, aPriori, Par Pacific Holdings, Energy Spectrum, and Wells Fargo Energy Capital. In addition, Laramie Energy is bank financed by commitments from JPMorgan Chase, Wells Fargo, Capital One, CIBC, and US Bank.