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December 2016 Corporate Presentation – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Dec 20, 2016 · 31 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. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 1
    Corporate Presentation December 2016
  2. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 2
    Led By Experienced Management Team Each member of the senior management team has more than 30 years of energy industry experience Randy Foutch has founded four successful exploration and production companies and operated through a…
  3. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 3
    Prior Investments Creating Value Multizone, contiguous acreage position enabling development efficiencies Yeartodate average completed lateral length of 10,000 driving higher rates of return Data powering the Multivariate Earth…
  4. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 4
    Consistent Production Growth Anticipated 2016 production growth of 10% 20,000 18,000 Original FY16 Guidance Mdpt 15.5 MMBOE 16,000 14,000 Anticipate fullyear 2016 Production1,2 (MBOE) production growth of 10% YoY 12,000…
  5. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 5
    Capitalizing on Contiguous Acreage Position 145,356 gross/127,421 net acres1 Contiguous acreage position with 4,500 gross feet of prospective zones Centralized infrastructure in multiple production corridors and ability to drill…
  6. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 6
    Multiple Targeted Horizons Identified Primary targets Hz Wells Drilled Thickness OOIP1 Secondary targets Landing Points Clearfork Upper/Middle Spraberry Lower 4,500 gross ft of prospective zones Spraberry 2 415 90 2 3…
  7. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 7
    Contiguous Acreage Position Enables Drilling of Longer Laterals 14,000 LPI 13,000 12,000 Estimated Lateral Length (Feet) 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 Well Count 13 53 19 46 42 139 19 34 LPI…
  8. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 8
    Drilling Efficiencies Drive Lower Well Costs Drilled Lateral Footage per Rig per Year 2016 166 2015 125 2014 88 2013 76 0 20 40 60 80 100 120 140 160 180 Thousand Lateral Feet Drilled per Rig per Year Significant drilling…
  9. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 9
    Decreasing D&C Costs 10,000 D&C Capital Savings 1 10 9 D&C costs for recent Upper 8.2 and Middle Wolfcamp wells 8 have been in the mid 5 MM D&C Capital Per Well ( MM) 1.4 7 6.9 1.0 6.3 range 6 0.9 5 4 D&C capital…
  10. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 10
    Laredos Technology Workflow Actions Results Predicted Well Role of Interference Technology & Performance Optimized Completions Ranked Zones Integration Analysis Optimized Well Spacing Ranked Wells Frac Modeling Optimized…
  11. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 11
    Evolving Beyond the Earth Model Enhanced analysis of key production drivers 2015 2016 2017 1218 months project duration 612 months project duration 24 weeks project duration 50% of LPI acreage 80% of LPI acreage 100% of LPI +…
  12. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 12
    Hydraulic Fracture Test Site (HFTS) 23 MM highprofile, jointindustry project led by InProgress Laredo and the Gas Technology Institute (GTI) Key Initiatives 3 Complete Slant Well Fracture & Proppant Analysis Laredos Project…
  13. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 13
    Advanced Hydraulic Fracture Data Collected on Laredo Leasehold HFTS GTI LAYOUT (6 UWC wells, 5 MWC wells, UWC & MWC refracs) Refrac wells UWC wells MWC wells Cored Intervals Slant Core Well HYDRAULICALLY FRACTURED CORE…
  14. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 14
    Advanced Fracture Modeling Increasing connected propped fractures Hydraulic propped fractures Hydraulic unpropped fractures Utilizing multivariate Earth Model analysis to optimize completions designs 15
  15. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 15
    Earth Model and Completion Optimization Benefits Wells utilizing the Earth Model and optimized completions have performed at an average of 139% of Oil Type Curve1 4,500 72 4,000 64 39% uplift vs Oil Type Curve 3,500 through…
  16. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 16
    Multivariate Earth Model Enhancing Production Upper Wolfcamp Middle Wolfcamp 350 300 Cumulative Production (MBOE) Cumulative Production (MBOE) 300 250 250 200 200 1.1 MMBOE 150 1.0 MMBOE 150 100 100 28 wells avg. 1,826…
  17. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 17
    Latest Optimization Tests Significantly Exceeding Type Curve Initial two wells utilizing the multivariate Earth Model and optimized drilling and completions with 2,400 lb/ft sand are yielding results significantly greater than type…
  18. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 18
    Multivariate Earth Model Driving Meaningful Uplift in Returns 125% 45 WTI 55 WTI 65 WTI 100% 75% ROR (%) 50% 25% 0% UWC MWC Cline UWC MWC Cline UWC MWC Cline Laredo type curve ROR Multivariate Earth Model…
  19. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 19
    Prior Investment in Infrastructure Providing Tangible Benefits 6.0 MM total realized benefits in 3Q161 25 MM total estimated benefits for FY161 195 horizontal wells served by production corridors with potential for 2,500 more2…
  20. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 20
    Corridor Financial Benefits 1.6 MM benefit over life of each 10,000 corridor well, with 25% of the benefit received in the first six months1 Water Oil Gas 3Q16 Benefits 2016 Benefits LMS Service Actual ( MM) Estimated (…
  21. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 21
    PeerLeading Unit LOE1 3Q15 9 3Q16 9 8 8 7 7 Peer Average LOE (/BOE) LOE (/BOE) 6 6 5 5 Peer Average 4 4 3 3 2 2 LPI Peers Production corridor assets reduced unit LOE 0.52/BOE in 3Q16 1 Peers are…
  22. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 22
    MedallionMidland Basin Crude Oil System Medallion Midland Basin System 500 miles with 325,000 net acres dedicated to system 0.48/Bbl 3Q16 cash flow margin net to LPI YE16 estimated exit rate of 140,000 BOPD 2 MM acres either…
  23. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 23
    MedallionMidland Basin: The Premier Pipeline in the Permian Current Oil Production per Square Mile (Bbl/d) Medallions Delivered Volumes 0 200 400 600 800 1,000 1,200+ 140 15% QoQ 3rdparty volume 120 increase from 3Q16 to…
  24. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 24
    Strong Financial Position 755 MM of liquidity1 No term debt due until 2022 950 million of notes callable at Laredos option in 2017 Toptier, multiyear hedge position Debt Maturity Summary 1,000 800 5.625% Debt ( MM) 600…
  25. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 25
    TopTier, MultiYear Hedge Position Oil Hedges Natural Gas Hedges 100% 100% 90% 90% 80% 80% Hedging 70% 70% program % Natural Gas Hedged1 provides price % Oil Hedged1 60% 60% 50% 50% protection 40% 40% while…
  26. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 26
    FourthQuarter 2016 Guidance 4Q2016 Production (MMBOE)... 4.7 4.9 Product % of total production: Crude oil.. 45% 47% Natural gas liquids...... 26% 27% Natural gas.... 27% 28% Price Realizations (prehedge): Crude oil (% of…
  27. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 27
    Oil, Natural Gas & Natural Gas Liquids Hedges OIL1 4Q16 2017 2018 Puts: Hedged volume (Bbls) 549,000 1,049,375 1,049,375 Weighted average price (/Bbl) 42.95 60.00 60.00 Swaps: Hedged volume (Bbls) 395,600 2,007,500 1,095,000…
  28. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 28
    Upper Wolfcamp Type Curves 1,000 10,000 Lateral EUR: 1,110 MBOE (45% oil) BOE/D 100 180day cumulative: 118 MBOE (61% oil) 365day cumulative: 187 MBOE (58% oil) 10 Months Normalized production1 Type curve 1,000 7,500…
  29. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 29
    Middle Wolfcamp Type Curves 1,000 10,000 Lateral EUR: 1,000 MBOE (51% oil) BOE/D 100 180day cumulative: 104 MBOE (62% oil) 365day cumulative: 165 MBOE (59% oil) 10 Months Normalized production1 Type curve 1,000 7,500…
  30. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 30
    2015 & 2016 YTDReported Actuals 1Q15 2Q15 3Q15 4Q15 FY15 1Q16 2Q16 3Q16 Production Production (3Stream) BOE/D 47,487 46,532 44,820 40,368 44,782 46,202 47,667 51,276 % oil 51% 46% 45% 45% 47% 48% 46% 46% Realized Pricing…
  31. December 2016 Corporate Presentation – Laredo Petroleum Inc. – slide 31
    2014 TwoStream to ThreeStream Conversions 1Q14 2Q14 3Q14 4Q14 FY14 Production (2Stream) BOE/D 27,041 28,653 32,970 39,722 32,134 Production % oil 58% 58% 59% 60% 59% Production (3Stream) BOE/D 32,358 33,829 38,798 46,379…

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