Welcome to our dedicated page for LPI news (Ticker: LPI), a resource for investors and traders seeking the latest updates and insights on LPI stock.
Laredo Petroleum, Inc. (NYSE: LPI) is an independent energy company headquartered in Tulsa, Oklahoma, with a stated focus on the acquisition, exploration and development of oil and natural gas properties in the Permian Basin of West Texas. The LPI news feed on Stock Titan aggregates company-issued updates and market news that reference Laredo’s operations and strategy.
News about Laredo Petroleum typically covers quarterly and preliminary financial and operating results, including production levels, capital expenditures, lease operating expenses and liquidity. The company’s releases also discuss its use of non-GAAP measures such as Adjusted EBITDA, Adjusted Net Income, Free Cash Flow and Net Asset Value, along with commentary from management on how these metrics relate to its development plans and balance sheet.
Investors following LPI-related news can also see announcements about acquisitions and divestitures of oil and natural gas properties in the Permian Basin, such as sales of certain non-operated assets in Howard County, Texas. These items illustrate how Laredo manages its portfolio of drilling locations and adjusts its production guidance in response to transactions and operational performance.
This page brings together these types of disclosures and references so readers can review how Laredo describes its business strategy, capital allocation and operational results over time. For ongoing research on LPI, users may wish to revisit this news feed to read the company’s own updates and related market coverage as they are released.
Laredo Petroleum, Inc. (NYSE: LPI) announced its agreement to sell non-operated properties in Howard County for $110 million, expected to close in October 2022. The assets cover approximately 1,650 net acres with an estimated average production of 1,800 BOEPD in 2023, primarily oil. This sale is intended to enhance the company’s net asset value and fund equity and debt repurchase programs. Despite the divestiture, Laredo maintains its strong inventory of high-quality drilling locations.
Laredo Petroleum (LPI) reported second-quarter 2022 results, achieving a net income of $262.5 million and Adjusted EBITDA of $278.4 million. The company produced 40,553 BOPD and 87,032 BOEPD, marking increases of 53% and 1% year-over-year, respectively. Liquidity rose to $1.148 billion. The 2022 Free Cash Flow forecast was adjusted to $280 million, down from $350 million. For 2023, Laredo anticipates a Free Cash Flow of $560 million and plans a $200 million share buyback program.
Laredo Petroleum will announce its second-quarter 2022 financial results after market close on August 3, 2022, followed by a conference call on August 4, 2022, at 7:30 a.m. CT to discuss these results. Interested participants can join the call by dialing 800.715.9871 with conference code 6923767 or listen via the Company’s website. Laredo Petroleum, based in Tulsa, Oklahoma, focuses on the acquisition, exploration, and development of oil and natural gas properties, predominantly in the Permian Basin of West Texas.
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.