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Laredo Touts Record Production in Q1 at 63.3 MBOEPD; Plans to Increase Laterals
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Laredo Petroleum reported its Q1 2018 results.
Highlights:- Produced a Company record 63,314 BOEPD (up +9% from 4Q17 and up +21% YOY)
increased anticipated production growth for full-year 2018 to greater than 12%- Increased Adjusted EBITDA to $143.4 million, up 33% from the first quarter of 2017
Repurchased 6,727,901 shares of common stock at a weighted-average price of $8.69 per share for $58.5 million under the Company's share repurchase program Tweaking Completion DesignLaredo continued to utilize various completion designs during the first quarter with the goal of improving productivity, reducing capital costs and driving improved capital efficiency.
Design refinements included lengthening stages, reducing fluid concentrations and utilizing PerfExtra, the Gas Technology…- ✓ Full news archive — U.S., Canada & international coverage
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