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October 2017 Corporate Presentation – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Oct 10, 2017 · 27 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. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 1
    Corporate Presentation October 2017
  2. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 2
    Managements Established Track Record of Creating Value Continues Prior Companies 4,000 Sale/Current Enterprise Value ( MM) 4,000 3,500 3,000 2,500 2,000 1,500 750 1,000 333 500 34 0 Colt Resources Lariat Petroleum Latigo…
  3. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 3
    Steady, Strategic Plan Yields Repeatable Results Proprietary Optimized Development Plan Data Shareholder Returns & Analytics Infrastructure Lower Costs Contiguous Acreage Position Capital Efficiency A disciplined…
  4. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 4
    Capitalizing on Our Contiguous Acreage Position 145,499 gross/125,967 net acres The Company has identified 2,000 locations from its total inventory that support lateral lengths of 10,000+ on its contiguous acreage Centralized…
  5. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 5
    Consistent Growth Despite Commodity Price Decline 22 160 100 Total Reserves and Resources1, 2 (MMBOE) 20 140 18 SEC Benchmark Oil Price (/Bbl) 80 Total Production1 (MMBOE) 16 120 14 100 60 12 80 10 141 128 40…
  6. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 6
    Contiguous Acreage Facilitated Robust Infrastructure Investments PIPELINE INFRASTRUCTURE 45 Miles CRUDE GATHERING 80 Miles WATER GATHERING / RECYCLED DISTRIBUTION 188 Miles NATURAL GAS GATHERING & DISTRIBUTION 165,000…
  7. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 7
    Infrastructure Provides Tangible Benefits Yield capital & LOE savings, plus increased revenues & 3rd party income Enable multi-well pad drilling & operational flexibility Minimize trucking 2016 Benefits 2017 Benefits LMS Corridor…
  8. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 8
    LMS Crude Gathering System Benefits 84% FY-17E gross operated production gathered on pipe LPI leasehold Medallion Pipeline LMS Oil gathering lines (existing) LMS Oil gathering lines (constructing) LMS Crude station Reduces time…
  9. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 9
    Significant Benefits through Water Infrastructure Investments LPI leasehold Water storage 10 MMBW Water treatment facility (existing) Water treatment facility (constructing) Water lines (existing) FY-17E produced water…
  10. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 10
    Infrastructure Helping to Deliver Peer-Leading LOE 9 60 8 LOE Cumulative Savings ( MM) 50 7 LOE/BOE (/BOE) 6 40 5 30 4 3 20 2 10 1 0 0 LPI LOE/BOE Peer Average LOE/BOE LPI vs. Peers LOE Cumulative Savings…
  11. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 11
    Proprietary Modeling Accelerates Value Creation Extensive, High-Quality Data + In-House Technology Development = Increased Value Proprietary Field Testing of Active Data Earth Model NAV-Maximized Completions Internal Theories…
  12. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 12
    Strategic Testing Leading to High-Quality, Multi-Zone Co-Development 12 LPI Total Hz 17 LPI Landing Points Wells Drilled Landing Points Big Data Clearfork Upper/Middle Predictive Spraberry Analytics 4,500 gross ft of prospective…
  13. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 13
    2,400 lb/ft Field Tests Confirm Internal Models 300 46% Outperformance to Average Cumulative Production (MBOE) 250 1.3 MMBOE type curve 200 150 50% Pre-drill model uplift prediction when utilizing 100 2,400 lb/ft…
  14. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 14
    Internal Models Accelerate Completions Design Evolution Proprietary workflows are shortening time from concept to field implementation, enabling continual optimization of completions designs Prior 2H-15 Testing 1H-17 Testing 2H-17…
  15. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 15
    Testing Co-Development of Landing Points Potential to add additional high-value inventory in the UWC with current testing 1,500 Upper Wolfcamp Vertical Pressure Monitor Well 530 Middle Wolfcamp Lower Wolfcamp LPI…
  16. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 16
    Proprietary Workflows Deliver Well Productivity Improvements 37% Outperformance to 1.3 MMBOE type curve 600 Cumulative Production (MBOE) 500 400 300 200 100 Individual producing wells Cumulative production avg.…
  17. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 17
    Maintaining Financial Flexibility 825 MM Anticipate reducing Medallion divestiture debt by more than half anticipated net proceeds Debt Maturity Summary 1,200 1,000 No debt due until 2022 Debt ( MM) 800 950 MM currently…
  18. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 18
    Disciplined Risk Management Philosophy Insures Long-Term Value Hedge Settlements and Product Revenue vs WTI Price 250 100 Hedges provided cash flow stability during volatile pricing 90 200 WTI Price (/Bbl) 80 MM 150 70…
  19. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 19
    Oil, Natural Gas & Natural Gas Liquids Hedges Hedge Totals 4Q-17 FY-18 FY-19 Oil total floor volume (Bbl) 1,727,300 9,515,375 730,000 Oil wtd-avg floor price (/Bbl) 55.82 47.42 50.00 Nat gas total floor volume (MMBtu) 6,803,200…
  20. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 20
    3Q-17 and 4Q-17 Guidance 3Q-17 4Q-17 Production (MBOE/d)... 60 - 62 61 - 64 Product % of total production: Crude oil.. 44% - 46% 45% - 47% Natural gas liquids...... 26% - 27% * Natural gas.... 27% - 28% * Price Realizations…
  21. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 21
    APPENDIX
  22. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 22
    2017 Capital and Operating Expectations 1 2017 Capital Budget FY-17E Drilling & Completions 530 MM 4 Hz rigs 80 60 - 65 Hz wells drill & complete 10,000 lateral length average Multi-well package development expected to mitigate…
  23. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 23
    UWC & MWC 1.3 MMBOE Cumulative Production Type Curve 1.3 MMBOE Cumulative Production Type Curve 600 Cumulative Production 500 400 (MBOE) 300 200 100 0 12 Months 24 Months 36 Months 48 Months 60 Months…
  24. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 24
    Drilling & Completions Efficiencies Drive Savings 10,000 D&C Capital Savings1 10 9 8 D&C Capital Per Well ( MM) 7 Cost-Efficient Development 6 Longer laterals 5 Multi-well packages 4 8.2 Zipper fracing High-spec rigs 3…
  25. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 25
    2016 & 2017 YTD Actuals 1Q-16 2Q-16 3Q-16 4Q-16 FY-16 1Q-17 2Q-17 Sales Volumes 3-Stream Sales Volumes MBOE 4,204 4,338 4,718 4,889 18,149 4,716 5,336 BOE/d 46,202 47,667 51,276 53,141 49,586 52,405 58,632 % oil 48% 46% 46% 46%…
  26. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 26
    2015 Actuals 1Q-15 2Q-15 3Q-15 4Q-15 FY-15 Sales Volumes 3-Stream Sales Volumes MBOE 4,274 4,234 4,124 3,714 16,346 BOE/d 47,487 46,532 44,820 40,368 44,782 % oil 51% 46% 45% 45% 47% Realized Pricing 3-Stream Realized…
  27. October 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 27
    2014 Actuals: Two-Stream to Three-Stream Conversions 1Q-14 2Q-14 3Q-14 4Q-14 FY-14 2-Stream Sales Volumes MBOE 2,434 2,607 3,033 3,654 11,729 Sales Volumes BOE/d 27,041 28,653 32,970 39,722 32,134 % oil 58% 58% 59% 60% 59%…

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