Filing Details
- Accession Number:
- 0001193125-21-302703
- Form Type:
- 13G Filing
- Publication Date:
- 2021-10-19 20:00:00
- Filed By:
- Pioneer Natural Resources Co
- Company:
- Vital Energy Inc. (NYSE:VTLE)
- Filing Date:
- 2021-10-20
- SEC Url:
- 13G Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Pioneer Natural Resources Company | 959,691 | 0 | 959,691 | 0 | 959,691 | 5.6% |
| Pioneer Natural Resources USA, Inc.(1) | 0 | 959,691 | 0 | 959,691 | 959,691 | 5.6% |
| Number of Shares Beneficially Owned Percentage Ownership in the Issuer Pioneer 959,691 5.6 %(1) Pioneer USA 959,691 5.6 %(1) Name of Reporting Person Sole Power to Vote or to Direct the Vote Shared Power to Vote or to Direct the Vote Sole Power to Dispose or to Direct the Disposition Shared Power to Dispose or to Direct the Disposition Pioneer 959,691 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
LAREDO PETROLEUM, INC.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
516806106
(CUSIP Number)
October 18, 2021
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☒ Rule 13d-1(c)
☐ Rule 13d-1(d)
| * | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 516806106 | SCHEDULE 13G | Page 2 of 6 Pages |
| 1 | NAME OF REPORTING PERSONS
Pioneer Natural Resources Company | |||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒
| |||||
| 3 | SEC USE ONLY
| |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA | |||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
959,691 (1) | ||||
| 6 | SHARED VOTING POWER
0 | |||||
| 7 | SOLE DISPOSITIVE POWER
959,691 (1) | |||||
| 8 | SHARED DISPOSITIVE POWER
0 | |||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
959,691 (1) | |||||
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
☐ | |||||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6% (2) | |||||
| 12 | TYPE OF REPORTING PERSON
CO | |||||
| (1) | Consists of 959,691 shares of common stock, $0.01 par value per share (the Common Stock), of Laredo Petroleum, Inc. (the Issuer) issued in the Acquisition (as defined in Item 4 below). |
| (2) | Based on 16,109,631 shares of Common Stock outstanding as of September 15, 2021, as represented by the Issuer in the PSA (as defined in Item 4 below), plus the 959,691 shares of Common Stock issued in the Acquisition. |
| CUSIP No. 516806106 | SCHEDULE 13G | Page 3 of 6 Pages |
| 1 | NAME OF REPORTING PERSONS
Pioneer Natural Resources USA, Inc.(1) | |||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒
| |||||
| 3 | SEC USE ONLY
| |||||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA | |||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER
0 | ||||
| 6 | SHARED VOTING POWER
959,691 (2) | |||||
| 7 | SOLE DISPOSITIVE POWER
0 | |||||
| 8 | SHARED DISPOSITIVE POWER
959,691 (2) | |||||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
959,691 (2) | |||||
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
☐ | |||||
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6% (3) | |||||
| 12 | TYPE OF REPORTING PERSON
CO | |||||
| (1) | Pioneer Natural Resources USA, Inc., a Delaware corporation (Pioneer USA), is a wholly owned subsidiary of Pioneer Natural Resources Company, a Delaware corporation (Pioneer), and Pioneer controls Pioneer USA. |
| (2) | Consists of 959,691 shares of Common Stock of the Issuer issued in the Acquisition. |
| (3) | Based on 16,109,631 shares of Common Stock outstanding as of September 15, 2021, as represented by the Issuer in the PSA, plus the 959,691 shares of Common Stock issued in the Acquisition. |
| CUSIP No. 516806106 | SCHEDULE 13G | Page 4 of 6 Pages |
| Item 1. | (a) Name of Issuer |
Laredo Petroleum, Inc. (the Issuer)
| Item 1. | (b) Address of Issuers Principal Executive Offices |
15 W. Sixth Street. Suite 900, Tulsa, Oklahoma 74119
| Item 2. | (a), (b) and (c) Name of Person Filing; Address of Principal Business Office; Citizenship: |
This statement on Schedule 13G is being filed jointly by Pioneer Natural Resources Company (Pioneer) and Pioneer Natural Resources USA, Inc. (Pioneer USA), pursuant to the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the Exchange Act), as separate persons and not as members of a group. See Exhibit 99.1 to this Schedule 13G for their Joint Filing Agreement.
Pioneer
Pioneer, a Delaware corporation, is a large independent oil and gas exploration and production company that explores for, develops and produces oil, natural gas liquids and gas in the Permian Basin in West Texas. The principal address of Pioneer is 777 Hidden Ridge, Irving, Texas 75038.
Pioneer USA
Pioneer USA, a Delaware corporation, is a wholly owned subsidiary of Pioneer. The principal address of Pioneer USA is 777 Hidden Ridge, Irving, Texas 75038.
| Item 2. | (d) Title of Class of Securities |
Common Stock, $0.01 par value (the Common Stock).
| Item 2. | (e) CUSIP No.: |
516806106
| Item 3. | If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person filing is a: |
| (a) | ☐ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); | ||
| (b) | ☐ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | ||
| (c) | ☐ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | ||
| (d) | ☐ | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | ||
| (e) | ☐ | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | ||
| (f) | ☐ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | ||
| (g) | ☐ | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); | ||
| (h) | ☐ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | ||
| (i) | ☐ | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | ||
| (j) | ☐ | A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); | ||
| (k) | ☐ | A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: _______________ | ||
| CUSIP No. 516806106 | SCHEDULE 13G | Page 5 of 6 Pages |
| Item 4. | Ownership |
| Name of Reporting Person | Number of Shares Beneficially Owned | Percentage Ownership in the Issuer | ||||||
| Pioneer | 959,691 | 5.6 | %(1) | |||||
| Pioneer USA | 959,691 | 5.6 | %(1) | |||||
| Name of Reporting Person | Sole Power to Vote or to Direct the Vote | Shared Power to Vote or to Direct the Vote | Sole Power to Dispose or to Direct the Disposition | Shared Power to Dispose or to Direct the Disposition | ||||||||||||
| Pioneer | 959,691 | 0 | 959,691 | 0 | ||||||||||||
| Pioneer USA | 0 | 959,691 | 0 | 959,691 | ||||||||||||
| (1) | On October 18, 2021 (the Closing Date), pursuant to a purchase and sale agreement dated as of September 17, 2021 by and among the Issuer, Pioneer USA, DE Midland III LLC, Parsley Minerals, LLC, and Parsley Energy, L.P., which was filed as Exhibit 2.1 to the Current Report on Form 8-K filed by the Issuer with the Securities and Exchange Commission on September 20, 2021 (the PSA), the Issuer consummated the acquisition (the Acquisition) of certain oil and gas properties in the Midland Basin and related assets and contracts in exchange for $160.0 million in cash, subject to customary closing price adjustments, and the issuance to Pioneer USA of 959,691 shares of Common Stock (the Shares). Pioneer, as 100% owner of Pioneer USA, is deemed to beneficially own the Shares. Ownership percentages are based on 16,109,631 shares of Common Stock outstanding as of September 15, 2021, as represented by the Issuer in the PSA, plus the 959,691 shares of Common Stock issued in the Acquisition. |
| Item 5. | Ownership of Five Percent or Less of a Class |
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
| Item 6. | Ownership of More Than Five Percent on Behalf of Another Person |
Not Applicable.
| Item 7. | Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person |
Not Applicable.
| Item 8. | Identification and Classification of Members of the Group |
Not Applicable.
| Item 9. | Notice of Dissolution of Group |
Not Applicable.
| CUSIP No. 516806106 | SCHEDULE 13G | Page 6 of 6 Pages |
| Item 10. | Certification |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: October 20, 2021
| PIONEER NATURAL RESOURCES COMPANY | ||
| By: | /s/ Mark H. Kleinman | |
| Name: | Mark H. Kleinman | |
| Title: | Executive Vice President, General Counsel and Assistant Secretary | |
| PIONEER NATURAL RESOURCES USA, INC. | ||
| By: | /s/ Mark H. Kleinman | |
| Name: | Mark H. Kleinman | |
| Title: | Executive Vice President, General Counsel and Assistant Secretary | |