Corporate Presentation February 2012 NYSE: LPI www.laredopetro.com
LPI: Experienced Explorers, Operators & CompanyBuilders Experienced management team, with a Recent Developments track record of successful exploration, asset growth and risk management. asset growth and risk management. Released…
Asset Overview Total Company 23,288 Boe/d average daily production during 2011 1 2 137 MMBoe proved reserves at June 30, 20111 2 137 MMBoe proved reserves at June 30, 2011 464,300 gross / 336,000 net acres with over 6,100 gross…
PermianDriven Oil / Liquids Growth Boe/d 35,000 Increased overall production driven 29 29,041 041 by expansion in Vertical Wolfberry by expansion in Vertical Wolfberry, 30,000 Horizontal Wolfcamp and Cline Expected 25%…
Years of Growth Embedded in Extensive Drilling Inventory Laredos inventory of highquality Total Gross Identified Locations1 = 6,115 drilling locations is identified and de (94% Permian) risked through Granite Wash Drilling…
Focused Capital Program Approximately 80% of 2012 drilling capital 10 MM directed to vertical Wolfberry, and horizontal 35 MM Pipeline 14 MM Wolfcamp p and Cline Shale drilling in the g L d&S i i Land & Seismic Other h Permian…
Conservative Financial Profile Liquidity position of 685 million Liquidity and Capitalization ( millions) Pro Forma IPO 9/30/2011 Funding flexibility for 2012 and beyond Funding flexibility for 2012 and beyond Cash and marketable…
Hedging: Protect and Stabilize Cash Flows As of January 15, 2012 Oil Hedges g 2012 2013 2014 2015 Total volume hedged by ceiling (Bbl) 1,578,000 1,128,000 726,000 252,000 Weighted average price (/Bbl) 104.77 108.90 129.09 135.00…
Permian Basin: Large, Quality Position multistacked plays in a prime geologic neighborhood Target intervals include Vertical Wolfberry, Horizontal Wolfcamp Shale (Upper, Middle, Lower), Horizontal Cline Shale Lower), Horizontal…
Permian Basin: 3 Plays, Multiple Targets 3,900 5,7001 Laredos Permian position consists of three distinct plays with multiple targets: 1 Vertical Wolfberry 2 Horizontal Wolfcamp Shale (Upper, Middle, Lower) 2 5,000 7,500 3…
Permian Basin Overview Multiple programs in varying phases of exploration / development Early Stage Exploration Late Stage Exploration Early Stage Development Full Development Concept confirmation, Confirmation of Focus on concept…
Vertical Wolfberry: Foundation for Growth MARTIN LPI has completed over 600 gross vertical wells in the MITCHELL Wolfberry; 12 rigs currently running HOWARD Large inventory of repeatable, highly economic Large inventory of…
Wolfcamp Shale: Emerging Opportunity MARTIN HOWARD MITCHELL The Wolfcamp Shale consists of three intervals: the Upper, Middle and Lower. Most industry drilling to date has been concentrated in the drilling to date has been…
Laredos Cline Shale Play Repeatable horizontal resource play in the Cline Shale MARTIN MITCHELL Laredo has been drilling and gathering data on Cline Shale since 2008 HOWARD 23 horizontal wells drilled and completed in the…
Multiple Granite Wash Porosity Trends Land position consists of 56,406 gross / Detailed geological mapping and engineering 37,740 net acres have resulted in consistent, high rate completions Drilled and completed 12 horizontal…
Other Exploration & Operating Areas OKLAHOMA Tulsa Headquarters Dalhart Basin Exploration Program 74,000 net acres Characterized by conventional shallow oil plays and several potential liquidsrich shale plays Targeted intervals…
Appendix
Established track record in mature basins 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Colt Resources Corp. Lariat Petroleum, Inc. Latigo Petroleum, Inc. Laredo…
Experienced Leadership Management Years in E&P Years with L Name Title Industry Companies Randy A. Foutch R d A F t h Chairman of the Board & Chief Executive Officer Ch i f th B d & Chi f E ti Offi 35 14 Jerry R. Schuyler Director,…
Permian Basin: Identified Potential Drilling Locations + = 1 PUD locations as identified in third party reserve report prepared by Ryder Scott for 6/30/11 2 IPD locations are recognized based on a combination of available…
Anadarko Basin: Identified Potential Drilling Locations 1 PUD locations as identified in third party reserve report prepared by Ryder Scott for 6/30/11 2 IPD locations are recognized based on a combination of available geological,…
Financial & Operating Data millions, except per unit data Nine months 2008 2009 2010 ended 9/30/11 Key data: K d Realized oil price (/Bbl)1 91.93 65.42 77.26 88.79 Realized natural gas price (/Mcf)1 7.83 6.17 6.32 6.75…
Adjusted EBITDA Reconciliation ( thousands, unaudited) For the three months For the nine months F th For the years ended December 31, d dD b 31 ended September 30, d d S t b 30 ended September 30, d d S t b 30 2008 2009 2010…
2012 Production and Expense Guidance Production (MMBoe) 10.6 Lease Operating Expenses (/Boe) 4.75 5.25 General and Administrative Expenses (/Boe) 4.75 5.25 Production Taxes (% of oil and natural gas revenues) 7.50%…
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