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HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Mar 26, 2012 · 39 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 1
    Howard Weil 2012 Energy Conference March 26, 26 2012 NYSE: LPI www.laredopetro.com
  2. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 2
    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…
  3. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 3
    Asset Overview Total Company 23,709 Boe/d average daily production during 2011 1 26,270 Boe/d average daily production during Q4 2011 26,270 Boe/d average daily production during Q4 2011 1 156.5 MMBoe proved reserves at December…
  4. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 4
    PermianDriven Oil / Liquids Growth Boe/d 35,000 Increased oil production 29 29,040 040 driven by expansion in driven by expansion in 30,000 Vertical Wolfberry, Horizontal Wolfcamp and Cline Shales 25,000 23,709 41%…
  5. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 5
    Significant PDP Growth Potential Laredos current drilling program is 2011 YearEnd Reserves: 156.5 MMBoe1 concentrated on exploring and exploiting Other hi h t ti l highpotential acreage in the Permian / i th P i / 10 MMB 10…
  6. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 6
    Years of Growth Embedded in Extensive Drilling Inventory Laredos inventory of highquality Total Gross drilling locations is identified and de Identified Potential Drilling Locations1 = 6,004 risked through (94% Permian) Granite…
  7. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 7
    Focused Capital Program Approximately 80% of 2012 drilling 10 MM 35 MM capital directed to vertical Wolfberry, Pipeline 15 MM L d&S i i Land & Seismic Other h horizontal Wolfcamp and Cline Shale horizontal Wolfcamp and Cline…
  8. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 8
    Conservative Financial Profile Liquidity position of 655 million Liquidity and Capitalization ( millions) 12/31/11 Funding flexibility for 2012 and beyond Funding flexibility for 2012 and beyond Cash and marketable securities C h…
  9. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 9
    Hedging: Protect and Stabilize Cash Flows As of March 10, 2012 Oil Hedges g 2012 2013 2014 2015 Total Total volume hedged by ceiling (Bbl) 1,716,500 1,368,000 726,000 252,000 4,062,500 Weighted average price (/Bbl) 108.19 110.56…
  10. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 10
    Permian Basin: Large, Quality Position multistacked plays in a prime geologic neighborhood Current target intervals include Vertical Wolfberry, Horizontal Wolfcamp Shale (Upper, Middle, Lower), Horizontal Cline (Upper, Middle,…
  11. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 11
    Permian Basin: Targets of Opportunity 3,9005,700 MULTIPLE IDENTIFIED POTENTIAL HORIZONAL TARGETS STACKED VERTICAL PAYS FBERRY RTICAL RGETS 5,0007,500 WOLF TAR VER 6,0008,000 7,0008,300 9,0009,500…
  12. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 12
    Permian Basin Overview Multiple targets in varying phases of exploration / development 1 1 Well and core counts as of 3/20/12 13
  13. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 13
    What Laredo Knows about its Horizontal Wolfcamp and Cline Shale Laredos Data Framework Areal, Extensive and Comprehensive THE DATABASE CONSISTS OF: 2,200 of Whole Core (all formations) LAREDOS DATA LIBRARY IS: 400+ Side Wall Core…
  14. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 14
    Vertical Wolfberry: Foundation for Growth LPI has over 600 gross vertical wells in the Wolfberry; MARTIN MITCHELL 8 vertical rigs currently running HOWARD Current average well density of approximately 1 C t ll d it f i t l 1…
  15. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 15
    Deep Vertical Wolfberry Development: Performance & Well Economics Key ROR Assumptions 40 Acre Spacing 75% NRI 138 MBOE Gross EUR / Deep Vertical Wolfberry Well, 5060% oil Economic Analysis at Oil Price Sensitivity Constant 4.00…
  16. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 16
    Deep Vertical Wolfberry: Well Performance Deep Vertical Wolfberry Type Curve and Cumulative Production 138 MBOE EUR (2 stream production) 160 80000 140 70000 BOE) Avverage 30 daay rate (BOEEPD) 120 60000 umulative…
  17. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 17
    Horizontal Wolfcamp Shale: Emerging Opportunity LPI has drilled and completed 6 gross horizontal MARTIN HOWARD wells in the Upper Wolfcamp Shale. Upside MITCHELL potential in Middle and Lower Wolfcamp identified based on…
  18. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 18
    Horizontal Wolfcamp Well Performance Average 30 Day Rate (Two Stream Production Rates) 1000 Natural Gas Oil 900 800 949 BOEPD 5.2 Mm lbs sand 516 BOEPD 5970 ft lateral e BOEPD 700 6.4 Mm lbs sand 22 stageSW 5670 ft…
  19. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 19
    Horizontal Wolfcamp Shale Exploration: Performance & Well Economics Key ROR Assumptions1 160 Acre Spacing 75% NRI Horizontal Wolfcamp 500 MBOE Gross EUR / Economic Analysis at Oil Price Sensitivity Well, 60% oil Constant 4.00 Gas…
  20. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 20
    Horizontal Wolfcamp Shale: Well Performance Wolfcamp Horizontal Type Curve and Cumulative Production 1 500 MBOE EUR (2 stream production) 600 300000 500 250000 BOE) umulative Production (B Averaage 30 day rate…
  21. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 21
    Laredos Horizontal Cline Shale Play Repeatable horizontal resource play in the Cline Shale MARTIN MITCHELL Laredo has been drilling and gathering data on Cline HOWARD Shale since 2008 26 horizontal wells drilled and…
  22. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 22
    Horizontal Cline Well Performance Average 30 Day Rate (Two Stream Production Rates) 900 Natural Gas Oil 800 Average 700 600 EPD y Average BOE 500 400 30 Day 300 200 100 0 Avg 264 BOEPD Avg 427 BOEPD…
  23. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 23
    Horizontal Cline Shale Exploration: Performance & Well Economics Early Stage Development Area ROR Assumptions 160 Acre Spacing 75% NRI 420 MBOE Gross EUR / Well, 60% oil 578 BOE/D Gross First 30 Day / Avg, 75% oil 7.7 MM…
  24. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 24
    Horizontal Cline Shale: Well Performance 1 Early stage development area drilling 25
  25. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 25
    Horizontal Cline Shale : Optimization Focus PERMIAN BASIN 100K LBS SSAND HORZ CLINE FRAC STAGES GREATER THAN 100K LBS SAND VS 30 DAY IP BOEPD 18 16 14 GES GREATTER THAN 1 yy = 0.013x + 5.2522 0 013x + 5 2522 R =…
  26. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 26
    Multiple Granite Wash Porosity Trends Land position consists of 54,974 gross / Detailed geological mapping and engineering 37,850 net acres have resulted in economic, high rate completions Drilled and completed 12 horizontal…
  27. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 27
    Oklahoma Granite Wash Horizontal : Performance & Well Economics Key ROR Assumptions 2 or less laterals / zone / section 80% NRI Anadarko Basin OK GraniteWash Economic Analysis at Gas Price Sensitivity 5.2 BCFE Gross EUR / Well…
  28. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 28
    Texas Granite Wash Horizontal : Performance & Well Economics Key ROR Assumptions 2 or less laterals / zone / section 75% NRI Anadarko Basin TX GraniteWash 5.2 BCFE Gross EUR / Well Economic Analysis at Gas Price Sensitivity…
  29. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 29
    Granite Wash Horizontal : Well Performance Granite Wash Horizontal Type Curve and Cumulative Production 5.2 BCFE (2 stream production) 12000 4000000 3500000 10000 MCFE) 3000000 Averagge 30 day ratte (MCFEPD) oduction…
  30. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 30
    Other Exploration & Operating Areas OKLAHOMA Tulsa Headquarters Dalhart Basin Exploration Program 83,000 net acres Characterized by conventional shallow oil plays and several potential liquidsrich shale plays Targeted intervals…
  31. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 31
    Appendix
  32. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 32
    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…
  33. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 33
    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,…
  34. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 34
    Permian Basin: Identified Potential Drilling Locations 1 PUD locations as identified in third party reserve report prepared by Ryder Scott for 12/31/11 2 IPD Locations are recognized based on a combination of available geological,…
  35. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 35
    Anadarko Basin: Identified Potential Drilling Locations 1 PUD locations as identified in third party reserve report prepared by Ryder Scott for 12/31/11 2 IPD Locations are recognized based on a combination of available geological,…
  36. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 36
    Financial & Operating Data millions, except per unit data 2008 2009 2010 2011 Key data: R li d il i (/Bbl)1 Realized oil price (/Bbl) 91 93 91.93 65 42 65.42 77 26 77.26 88 62 88.62 Realized natural gas price (/Mcf)1 7.83…
  37. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 37
    Adjusted EBITDA Reconciliation ( thousands, unaudited) For the years ended December 31, 2008 2009 2010 2011 Net income (loss) (192,047) (184,495) 86,248 105,554 Plus: Interest expense 4,410 7,464 18,482 50,580 Depreciation,…
  38. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 38
    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%…
  39. HOWARD WEIL 2012 ENERGY CONFERENCE – Laredo Petroleum Inc. – slide 39
    NYSE: LPI www.laredopetro.com

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