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 (LPI) announced the acquisition of Sabalo Energy's assets for approximately $715 million, funded by cash and equity. This acquisition adds 21,000 contiguous acres in Howard County and aims to increase oil production to over 50%. The divestiture of 37.5% of its PDP reserves in Reagan/Glasscock counties generated $405 million. Both transactions will enhance Laredo's Free Cash Flow and decrease debt ratios by 2025, with projected Free Cash Flow exceeding $700 million through FY-25.
Laredo Petroleum reported Q1 2021 financial results, generating $71 million in cash from operations and $22 million in Free Cash Flow. The company sold 723,579 shares through its ATM program for net proceeds of $26.9 million and reduced net debt by $30 million. Average oil production increased 11% to 24,261 BOPD, despite weather disruptions. A net loss of $75.4 million was reported, including a $122.2 million non-cash loss on derivatives, while adjusted net income was $20.3 million. Laredo anticipates further production growth in Q2 2021.
Laredo Petroleum, Inc. (NYSE: LPI) will announce its first-quarter 2021 financial results after market close on May 5, 2021. A conference call is scheduled for May 6, 2021, at 7:30 a.m. CT to discuss these results. Investors can join the call by dialing 877.930.8286 or through the company's website. A telephonic replay will be accessible two hours post-call until May 13, 2021. Laredo Petroleum focuses on acquiring, exploring, and developing oil and natural gas properties, primarily in the Permian Basin.
Laredo Petroleum has filed a prospectus supplement with the SEC to potentially raise up to $75 million through an 'at-the-market' offering program. This program allows for the sale of shares over time, facilitated by Wells Fargo Securities as the sales agent. The funds raised will support general corporate purposes, including capital expenditures and debt refinancing. This offering is part of an effective automatic shelf registration statement and will not constitute an offer until registered properly.
Laredo Petroleum (NYSE: LPI) announced its fourth-quarter and full-year 2020 results, reporting significant operational shifts to Howard County. Highlights include a 27% reduction in capital expenditures and a 21% decrease in drilling costs to $540 per foot. Average production was 87,750 BOE/day, with oil production averaging 26,849 BOPD. A net loss of $874.2 million was reported for 2020, but expectations for 2021 indicate potential Free Cash Flow of $25-$40 million. The company aims for increased oil production through enhanced efficiency and a robust hedging strategy.
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Laredo Petroleum, Inc. (LPI) has postponed its fourth-quarter 2020 financial results release and conference call due to severe winter weather affecting operations in Oklahoma and Texas. The new release date is set for February 22, 2021, after market close, with the conference call scheduled for February 23, 2021, at 7:30 a.m. CT. This decision was made to ensure the safety of its team amidst hazardous travel conditions and power outages.
Laredo Petroleum, Inc. (NYSE: LPI) will announce its fourth-quarter 2020 financial results after the market closes on February 17, 2021. A conference call to discuss these results will be held on February 18, 2021, at 7:30 a.m. CT. Participants can join by calling 877.930.8286 or listening online at www.laredopetro.com. A replay will be available shortly after the call until February 25, 2021.
Laredo is an independent energy company based in Tulsa, Oklahoma, focusing on acquisition, exploration, and development of oil and natural gas properties in the Permian Basin.
Laredo Petroleum, Inc. (NYSE: LPI) has appointed Jarvis Hollingsworth and Lori Lancaster to its Board of Directors, effective November 19, 2020. Hollingsworth brings extensive corporate governance and strategic experience, previously serving as General Counsel at Kayne Anderson Capital Advisors. Lancaster, with over 20 years in energy investment banking and a key player in $60 billion of M&A transactions, will provide significant insights as Laredo transforms its asset base. The CEO expressed excitement over these appointments, aiming to enhance the Board's diversity and expertise in challenging industry times.
Laredo Petroleum reported a third-quarter 2020 net loss of $237.4 million, or $20.32 per diluted share. However, Adjusted Net Income was $47 million, or $4.02 per adjusted diluted share. The company generated $71 million in Free Cash Flow and reduced net debt by $64 million. Laredo raised its fourth-quarter and full-year 2020 oil and total production guidance, highlighting operational effectiveness in Howard County. The company hedged 80% of anticipated 2021 oil production at a weighted-average price of $50.80 per barrel, enhancing cash flow protection.
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