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Laredo Petroleum, Inc. (LPI) delivers energy solutions through strategic operations in the Permian Basin, a cornerstone of U.S. oil production. This page aggregates official announcements and press releases, providing stakeholders with timely insights into the company’s exploration activities, financial performance, and operational strategies.
Investors and industry observers will find comprehensive coverage of quarterly earnings, asset acquisitions, and technology deployments critical to understanding LPI’s position in the energy market. The curated selection emphasizes material developments affecting production capabilities and resource management.
Key updates include drilling results, partnership announcements, and regulatory compliance milestones. All content piece maintains factual accuracy while avoiding speculative analysis, aligning with financial disclosure standards.
Bookmark this page for streamlined access to Laredo Petroleum’s evolving story in one of America’s most prolific energy regions. Regular visitors gain a structured view of how operational decisions translate to market performance.
Laredo Petroleum, Inc. (NYSE: LPI) announced the appointment of John Driver and Shihab Kuran as independent members of its Board of Directors, effective June 24, 2022. Driver, a technology entrepreneur with leadership experience, currently leads Lynx Technology and has held significant roles in various tech companies. Kuran is an energy industry executive known for his work in advanced energy technologies, including solar and EV charging. The Board aims to enhance its skill set and leverage their expertise to boost production efficiency and reduce emissions.
Laredo Petroleum (NYSE: LPI) has announced a $200 million share repurchase program authorized through May 27, 2024. This decision, made approximately nine months ahead of schedule, aligns with the company's aim to return cash to shareholders. The updated debt repayment target is set at $700 million by year-end 2023, with a projected Free Cash Flow of around $900 million for 2022-23, reflecting strong commodity prices. The company is on track to achieve a Net Debt/Consolidated EBITDAX ratio of 1.0x by Q1 2023.
Laredo Petroleum (NYSE: LPI) reported a net loss of $86.8 million for Q1 2022, translating to $5.18 per diluted share. Despite this loss, the company generated a Free Cash Flow of $23.2 million and reduced its Net Debt/Consolidated EBITDAX ratio to 1.9x. Total production was 85,118 BOEPD, with oil production at 40,295 BOPD, both meeting guidance. Capital expenditures were $171 million, aligning with expectations. Laredo anticipates exceeding $300 million in Free Cash Flow for 2022 and aims to reduce debt significantly.
Laredo Petroleum (NYSE: LPI) will announce its Q1 2022 financial and operating results on May 4, 2022, after market close. A follow-up conference call to discuss these results is scheduled for May 5, 2022, at 7:30 a.m. CT. Participants can join the call by dialing 877.930.8286 or via the company's website. Laredo is an independent energy company based in Tulsa, Oklahoma, focusing on oil and natural gas properties in the Permian Basin.
Laredo Petroleum (NYSE: LPI) announced its 2022 capital budget, forecasting over $300 million in Free Cash Flow at $80 WTI and $4.65 Henry Hub prices. The total capital expenditure is estimated at approximately $520 million, maintaining flat activity levels compared to 2021. The company anticipates achieving its deleveraging target of 1.5x Net Debt/Adjusted EBITDA by Q3 2022, aiming for below 1.0x by H2 2023. Oil production is projected to grow 24-34% year-over-year, supported by acquisitions in 2021.
Laredo Petroleum reported strong fourth-quarter and full-year 2021 results, highlighting a 19% increase in average daily oil production and a 15% increase in total proved reserves. The acquisition of 41,000 net acres bolstered its inventory by 250 high-margin, oil-weighted locations. The Company anticipates achieving a Net Debt/Adjusted EBITDA ratio of 1.5x by Q3 2022, aiming for shareholder returns in early 2023. With a total estimated inventory of ~460 locations, Laredo is set for eight years of development activity at breakeven WTI prices between $40 and $55 per barrel.
Laredo Petroleum, Inc. (NYSE: LPI) is set to report its fourth-quarter 2021 financial and operational results on February 22, 2022, after market close. A conference call will be hosted on February 23, 2022, at 7:30 a.m. CT to discuss these results, which can be accessed via phone or the Company's website. Laredo focuses on the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas. For more details, visit their investor relations page.
Laredo Petroleum, Inc. (NYSE: LPI) reported its third-quarter 2021 results, highlighting a significant acquisition of ~20,000 net acres in Glasscock County, extending its oil development runway to seven years. Average production was 76,703 BOE/day, with oil production at 35,329 BOPD, reflecting a 41% year-on-year increase. The company incurred $137 million in capital expenditures, while achieving a net income of $136.8 million, or $8.56 per diluted share. Laredo anticipates a strong Q4 with production guidance of 80.3 - 83.3 MBOE/day and continued investments in acquired assets for improved operational efficiency.
Laredo Petroleum, Inc. (NYSE: LPI) plans to release its third-quarter 2021 financial results post-market on November 2, 2021. A conference call is scheduled for November 3, 2021, at 7:30 a.m. CT to discuss these results. Interested participants can dial 877.930.8286 (international: 253.336.8309) with conference code 4653617 or listen online at Laredo's website. A replay of the call will be available for a week following the event.
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