People | People-Resignation | People-Promotion | Job Cuts / Downsize / Layoff

Ex-Chesapeake Exec Heads to Laredo Petroleum

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   |    Wednesday,June 17,2020

Laredo Petroleum, Inc. has reported a management change as well as a G&A update.

CFO Departs

The company has named Bryan Lemmerman as Senior Vice President and Chief Financial Officer, effective June 30, 2020.

Michael Beyer will be leaving the Company effective June 17, 2020.

Mr. Lemmerman has more than 15 years of experience in the energy exploration and production industry, including an extensive background in strategic planning and business development. He previously spent 10 years with Chesapeake Energy Corporation ("Chesapeake"), serving in financial roles with increasing responsibility, most recently as Vice President – Business Development and Treasurer. Prior to joining Chesapeake, Mr. Lemmerman was a portfolio manager at Highview Capital Management and Ritchie Capital Management, overseeing investments in public and private energy companies. He began his career as a tax consultant with Deloitte & Touche. Mr. Lemmerman holds a Bachelor of Business Administration in Accounting and Master of Science in Accounting from Texas A&M University and a Master of Business Administration from the University of Texas.

Further Salary, Workforce Reductions

Laredo also detailed that it has has taken additional actions to further reduce personnel expenses.

Through a combination of reductions in headcount and director and officer compensation, personnel costs for full-year 2020 are expected to be reduced by approximately 10% from full-year 2019 levels.

The details regarding the number of jobs cut or salary information was not noted.

2020 Development Plan

Category	2019	2020 Est. Initial	Updated 2020 Guidance	%Difference (2019vs 2020)
Total Capital Expenditure($mm)

Wells Completed/Frac(net)
Rig Count

Production Daily Equivalent(boe/d)
Production Oil(bbls/d)

 Click here for More Planned 2020 Activity

2020 Development Plan

Category	2019	2020 Est. Initial	Updated 2020 Guidance	%Difference (2019vs 2020)
Total Capital Expenditure($mm)

Wells Completed/Frac(gross)
Rig Count

Production Oil(bbls/d)

 Click here for More Planned 2020 Activity