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September 2013 Investor Presentation – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Sep 10, 2013 · 28 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. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 1
    NYSE: LPI www.laredopetro.com Laredo Petroleum: Corporate Presentation September 2013
  2. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 2
    Laredo Petroleum Overview Key highlights Permian Concentration Pureplay Permian oil opportunity Concentrated acreage position in the fairway of the Midland Basin Lowrisk drilling inventory 10 years 139,960 net acres 63% HBP Sound…
  3. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 3
    Laredos PermianGarden City Shale Up to 1,825 feet of pay from four defined stacked shale zones with proven horizontal development potential with upside from multiple additional zones Wolfcamp Upper Middle Lower Cline Shale Combined…
  4. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 4
    Permian Basin: Core Area in Garden City 139,960 net acres1 in Glasscock, Reagan, Howard and Sterling counties 91% average working interest 25% average royalty Multiple targets with proven economic production: Vt Wolfberry Laredo…
  5. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 5
    PermianGarden City: Vertical Wolfberry Entire 139,960 net acreage1 block effectively de-risked for Mitchell Clearfork vertical development Howard Upper Provides a technical and economic Sprayberry foundation for horizontal…
  6. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 6
    PermianGarden City: Proven Multizone Horizontal Performance Average 30-day IP results from the Upper, Middle and Lower Wolfcamp at high-end or exceeding type curves Long Lateral Horizontal Total of Average 30Day Zone…
  7. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 7
    Permian Production Growth 30 25 MBOE/D 20 Gas (MBOE/D) 15 Oil (MBbl/D) 10 5 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 Natural Gas Production (MBOE/D) 7.3 8.3 8.3 9.0 9.8 10.6 Oil Production (MBbl/D) 11.1 12.1 12.5 14.1 15.3…
  8. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 8
    PermianGarden City: SidebySide Program 1 mile 3 miles LPI Acreage Multiple Goals Optimize spacing and minimize interference Lateral lengths: 7,000 7,500 feet Spacing: 660 feet Frac design and monitoring Frac optimization…
  9. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 9
    PermianGarden City: SidebySide Program Early Results All efforts are early time, but are Upper Wolfcamp Type Curve supporting 660 spacing CUM Production BBL MCF BOE 1 month 16,650 29,342 21,540 Cumulative Production Comparison 2…
  10. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 10
    PermianGarden City: Stacked Lateral Program First 3-well stacked pad currently drilling, anticipate on production during 3Q-13 LPI Acreage Objectives Evaluate multiwell stacked laterals Optimize vertical distance between…
  11. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 11
    Laredo is Actively Addressing Permian Takeaway Capacity 10,000 BOPD committed to Longhorn, increasing annually to 23,000 BOPD over 5 years Firm transportation out of the Permian Cushing Eliminates Mid/Cush basis differential…
  12. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 12
    Permian Focused Capital Program Initial 2013 Capital Program PostDivestment 2013 Capital Program Effective April 1, 2013, Company divested Granite Wash and Other properties. Capital for remainder of 2013 has 88% been…
  13. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 13
    Strong Liquidity & Financial Profile Proforma As Reported Proforma Liquidity MM 8/1/2013 Financial Debt Ratios1 6/30/13 8/1/2013 3 Cash and marketable securities 1 3560 Debt / Adj. EBITDA (LQA) 2.7x 1.7x Current Borrowing Base 2 8250…
  14. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 14
    Hedging Program: Protect and Stabilize Cash Flows Oil Positions As of August 1, 2013 Natural Gas Positions As of August 1, 2013 2013 2014 2015 Total 2013 2014 2015 Total Remainder Remainder OIL1 NATURAL GAS2 of year of year Puts:…
  15. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 15
    Guidance 3Q2013 4Q2013 Production (MMBOE): Permian 2.2 2.4 2.5 2.7 Other .3 .3 Total 2.5 2.7 2.5 2.7 % Crude oil 52% 60% Price Realizations (prehedge, twostream basis, % of NYMEX): Crude oil 90% 95% 90% 95% Natural gas,…
  16. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 16
    Appendix
  17. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 17
    TwoStream vs. ThreeStream Laredo reports on a two-stream basis to match its ownership in production TwoStream ThreeStream 2Q13 Production NGL Oil 26% Gas Gas 43% 20% Increase 37% 57% Oil 37% TwoStream TwoStream 2Q13 NGL…
  18. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 18
    PermianGarden City: Regional Wolfcamp Cross Section Wolfcamp shale intervals underlie LPIs Permian-Garden City acreage position GLASSCOCK Co. REAGAN Co. LAZY E CALVERLEY 44 COX 32 COX J E SUGG A SRH A 902 2 1 3302 170G 11AD…
  19. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 19
    Upper Wolfcamp Type Curve Type Curve 23 long lateral wells presented 1000 Current Well Economics D+C Cost MM 7.8 EUR MBOE 715 800 30Day IP BOE/D 675 754 % Oil (IP Life) 77% 69% ROR2 43% 53% BOE/D 100 758 MBOE Bfactor…
  20. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 20
    Middle Wolfcamp Type Curve Type Curve 2 long lateral wells presented 1000 Current Well Economics D+C Cost MM 7.8 EUR MBOE 600 700 30Day IP BOE/D 569 659 % Oil (IP Life) 77% 69% ROR2 30% 40% BOE/D 100 650 MBOE Bfactor…
  21. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 21
    Lower Wolfcamp Type Curve Type Curve 4 long lateral wells presented 1000 Current Well Economics D+C Cost MM 8.5 EUR MBOE 605 730 30Day IP BOE/D 574 690 % Oil (IP Life) 77% 69% ROR2 26% 38% BOE/D 100 668 MBOE Bfactor…
  22. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 22
    Permian BasinGarden City: Regional Cline Cross Section Cline shale across LPIs acreage position GLASSCOCKCo. REAGANCo. N S 85+ miles CLINEHIGHQUALITYRESOURCEPLAY 20+ miles LPI acreage Cross section line 87…
  23. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 23
    Cline Type Curve BOEPD/Frac Stage normalized data from 4 Long lateral wells presented 35 wells presented 100 1000 BOE/D BOE/D 10 100 10 1 Months Months Current Well Economics D+C Cost MM 9.0 EUR MBOE 550…
  24. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 24
    Permian: Vertical Wolfberry Presented in twostream BOE per day 1000 Deep Vertical Wolfberry BOE/D 100 Vertical Wolfberry type curve shown in red 10 Normalized production data for 300+ deep vertical Wolfberry wells…
  25. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 25
    Permian Oil Takeaway Capacity Planned Completion Capacity Date MBOPD Existing Takeaway Cushing Total Refineries 410 Wichita Falls Total Oil Pipelines 880 Longview Total Existing Capacity 1,290 Expansion Capacity 1 Longhorn…
  26. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 26
    Permian NGL and Gas Takeaway Capacity Capacity NGL Existing Takeaway1 MBPD NGL Pipelines 600 Permian Fractionation 135 Total Existing Capacity 735 Planned Capacity Expansion Capacity Completion MBPD Lone Star2 1Q13 100 Texas…
  27. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 27
    Historical Financial & Operating Data millions, except per unit data 2010 2011 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Key data: 1 Realized oil price (/Bbl) 77.26 88.62 86.69 86.58 81.00 83.03 89.80 1 Realized natural gas price…
  28. September 2013 Investor Presentation – Laredo Petroleum Inc. – slide 28
    Adjusted EBITDA Reconciliation ( thousands, unaudited) 1 1Pro forma represents sale of Anadarko Basin assets 29

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