EX-25.1 7 a2209763zex-25_1.htm EX-25.1
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Exhibit 25.1

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE


o    CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b) (2)

WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)

A National Banking Association
(Jurisdiction of incorporation or
organization if not a U.S. national bank)		   94-1347393
(I.R.S. Employer
Identification No.)

101 North Phillips Avenue
 
 
Sioux Falls, South Dakota
(Address of principal executive offices)		   57104
(Zip code)

Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)


LAREDO PETROLEUM, INC.
(Exact name of Registrant as Specified in Its Charter)

Delaware
(State or Other Jurisdiction of
Incorporation or Organization)		   1311
(Primary Standard Industrial
Classification Code Number)		   20-5707393
(I.R.S. Employer
Identification Number)

15 W. Sixth Street, Suite 1800
Tulsa, Oklahoma 74119
(918) 513-4570
(Address, Including Zip Code, and Telephone Number, Including
Area Code, of Registrant's Principal Executive Offices)

7.375% Senior Notes due 2022
(Title of the indenture securities)

TABLE OF ADDITIONAL REGISTRANT GUARANTORS

       
 
Exact Name of Registrant Guarantors(1)
   State or Other
Jurisdiction of
Incorporation
or Formation
   IRS Employer
Identification
Number
 

Laredo Petroleum Holdings, Inc. 

   Delaware   45-3007926
 

Laredo Gas Services, LLC

   Delaware   42-2608078
 

Laredo Petroleum Texas, LLC

   Texas   20-8882881
 

Laredo Petroleum—Dallas, Inc. 

   Delaware   20-4864739

 
(1)
The address for each Registrant Guarantor is 15 W. Sixth Street, Suite 1800, Tulsa, Oklahoma 74119 and the telephone number for each Registrant Guarantor is (918) 513-4570.

   

Item 1.    General Information.    Furnish the following information as to the trustee:

    (a)
    Name and address of each examining or supervising authority to which it is subject.

      Comptroller of the Currency
      Treasury Department
      Washington, D.C.

      Federal Deposit Insurance Corporation
      Washington, D.C.

      Federal Reserve Bank of San Francisco
      San Francisco, California 94120

    (b)
    Whether it is authorized to exercise corporate trust powers.

      The trustee is authorized to exercise corporate trust powers.

Item 2.    Affiliations with Obligor.    If the obligor is an affiliate of the trustee, describe each such affiliation.

        None with respect to the Trustee.

        No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15.    Foreign Trustee.    Not applicable.

Item 16.    List of Exhibits.    List below all exhibits filed as a part of this Statement of Eligibility.

Exhibit 1.   A copy of the Articles of Association of the trustee now in effect.*

Exhibit 2.
 
A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**

Exhibit 3.
 
See Exhibit 2

Exhibit 4.
 
Copy of By-laws of the trustee as now in effect.***

Exhibit 5.
 
Not applicable.

Exhibit 6.
 
The consent of the trustee required by Section 321(b) of the Act.

Exhibit 7.
 
A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.

Exhibit 8.
 
Not applicable.

Exhibit 9.
 
Not applicable.
*
Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.

**
Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.

***
Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of Penn National Gaming Inc. file number 333-125274.


SIGNATURE

        Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Dallas and State of Texas on the 12th of June, 2012

    WELLS FARGO BANK, NATIONAL ASSOCIATION

 
 
/s/ PATRICK T. GIORDANO
 Patrick T. Giordano
 Vice President


EXHIBIT 6

June 12, 2012

Securities and Exchange Commission
Washington, D.C. 20549

Gentlemen:

        In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.

    Very truly yours,

 
 
WELLS FARGO BANK, NATIONAL ASSOCIATION

 
 
/s/ PATRICK T. GIORDANO
 Patrick T. Giordano
 Vice President


Consolidated Report of Condition of
Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business March 31, 2012, filed in accordance with 12 U.S.C. §161 for National Banks.

 
    
   Dollar Amounts
In Millions 		 

ASSETS

              

Cash and balances due from depository institutions:

              

Noninterest-bearing balances and currency and coin

         $ 17,216  

Interest-bearing balances

           49,902  

Securities:

              

Held-to-maturity securities

           0  

Available-for-sale securities

           204,705  

Federal funds sold and securities purchased under agreements to resell:

              

Federal funds sold in domestic offices

           834  

Securities purchased under agreements to resell

           24,346  

Loans and lease financing receivables:

              

Loans and leases held for sale

           28,995  

Loans and leases, net of unearned income

     710,355        

LESS: Allowance for loan and lease losses

     15,934        

Loans and leases, net of unearned income and allowance

           694,421  

Trading Assets

           50,280  

Premises and fixed assets (including capitalized leases)

           7,788  

Other real estate owned

           4,449  

Investments in unconsolidated subsidiaries and associated companies

           579  

Direct and indirect investments in real estate ventures

           106  

Intangible assets

              

Goodwill

           21,276  

Other intangible assets

           23,076  

Other assets

           53,844  
             

Total assets

         $ 1,181,817  
             

LIABILITIES

              

Deposits:

              

In domestic offices

         $ 852,986  

Noninterest-bearing

     223,944        

Interest-bearing

     629,042        

In foreign offices, Edge and Agreement subsidiaries, and IBFs

           66,906  

Noninterest-bearing

     2,118        

Interest-bearing

     64,788        

Federal funds purchased and securities sold under agreements to repurchase:

              

Federal funds purchased in domestic offices

           10,453  

Securities sold under agreements to repurchase

           11,665  

Trading liabilities

           20,434  

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

           38,145  

Subordinated notes and debentures

           18,384  

Other liabilities

           37,006  
             

Total liabilities

         $ 1,055,979  

 
    
   Dollar Amounts
In Millions 		 

EQUITY CAPITAL

              

Perpetual preferred stock and related surplus

           0  

Common stock

           519  

Surplus (exclude all surplus related to preferred stock)

           99,458  

Retained earnings

           19,264  

Accumulated other comprehensive income

           5,478  

Other equity capital components

           0  
             

Total bank equity capital

           124,719  

Noncontrolling (minority) interests in consolidated subsidiaries

           1,119  
             

Total equity capital

           125,838  
             

Total liabilities, and equity capital

         $ 1,181,817  
             

        I, Timothy J. Sloan, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

Timothy J. Sloan

                                                                                                                                                             EVP & CFO    

        We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

John Stumpf

  

Directors

    

Avid Modjtabai

        

Michael Loughlin

        



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SIGNATURE
EXHIBIT 6
Consolidated Report of Condition of Wells Fargo Bank National Association of 101 North Phillips Avenue, Sioux Falls, SD 57104 And Foreign and Domestic Subsidiaries, at the close of business March 31, 2012, filed in accordance with 12 U.S.C. §161 for National Banks.