Laredo Petroleum adds new board member

Tulsa’s Laredo Petroleum has added a new member to its board of directors.

The company announced the appointment of Craig Jarchow as an independent director and the appointment was effective Dec. 10, 2019. He is the current President, CEO and board member of Castleton Resources, LLC, a natural gas focused company operating upstream and midstream assets in East Texas.

He previously served as Managing Director and Partner of Pine Brook Road Partners, LLC and First Reserve Corporation, sourcing and advising on transactions. With more than 25 years of energy industry experience, Jarchow began his career at Amoco Corporation and Apache Corporation serving in operational roles at both companies.
“We are excited to add Craig to our Board as we embark on Laredo’s strategic pivot to focus on oil growth coupled
with Free Cash Flow generation,” stated Jason Pigott, President and CEO. “His broad expertise across all facets of the oil and gas industry will be a valuable addition to the Laredo Board and I look forward to working with him as we drive value creation for our stakeholders.”

The company headed by Jarchow acquired its East Texas portfolio through multiple transactions in 2014 and continued to build its position through the acquisition of EDF’s East Texas assets in 2015.  In 2016, Castleton Resources acquired Anadarko Petroleum Corporation’s Carthage upstream and midstream assets in East Texas for approximately $1 billion.