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December 2017 Corporate Presentation – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Dec 8, 2017 · 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. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 1
    Corporate Presentation December 2017
  2. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 2
    2017 Highlights On track to achieve seventh consecutive year of Permian production growth o 16% - 19% FY-17E YoY production growth 830 MM of net cash proceeds received for Medallion divestiture o Sold asset for three times…
  3. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 3
    Consistent Growth Despite Commodity Price Decline Production 22 120 20 18 100 Total Production1 (MMBOE) 16 80 WTI Price (/Bbl) 14 12 60 10 8 40 6 4 20 2 0 0 FY-11 FY-12 FY-13 FY-14 FY-15 FY-16 FY-17E Oil NGL…
  4. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 4
    Historic Completed Lateral Footage 700,000 9 596,797 8 600,000 596,261 7 Completed Lateral Feet 500,000 458,976 451,159 6 of Hz Rigs 400,000 5 300,000 4 270,817 3 200,000 2 100,000 1 0 0 2013 2014 2015 2016…
  5. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 5
    Steady, Strategic Plan Yields Repeatable Results Proprietary Optimized Development Plan Data Shareholder Returns & Analytics Infrastructure Lower Costs Contiguous Acreage Position Capital Efficiency A disciplined…
  6. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 6
    Capitalizing on Our Contiguous Acreage Position 145,036 gross/125,466 net acres The Company has identified 500 land- ready UWC/MWC locations from its total inventory that support lateral lengths of 15,000+ on its contiguous…
  7. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 7
    Contiguous Acreage Facilitates Robust Infrastructure Investments PIPELINE INFRASTRUCTURE 45 Miles CRUDE GATHERING 80 Miles WATER GATHERING / RECYCLED DISTRIBUTION 188 Miles NATURAL GAS GATHERING & DISTRIBUTION 180,000…
  8. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 8
    Infrastructure Provides Tangible Benefits Yield capital & LOE savings, plus increased revenues & 3rd-party income Enable multi-well pad drilling & operational flexibility Minimize trucking 3Q-17 Net Benefits 2017 Net Benefits LMS…
  9. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 9
    LMS Crude Gathering System Benefits 80% YE-17E gross operated crude production gathered on pipe LPI leasehold Medallion Pipeline LMS Oil gathering lines (existing) LMS Oil gathering lines (constructing) LMS Crude station Reduces…
  10. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 10
    Significant Benefits through Water Infrastructure Investments 15 MMBW LPI leasehold Water storage Water treatment facility (existing) FY-17E produced water Water treatment facility (constructing) Water lines (existing) Water…
  11. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 11
    Infrastructure Helping to Deliver Peer-Leading LOE 9 8 7 LOE/BOE (/BOE) 6 5 4 3 2 1 0 1Q-15 2Q-15 3Q-15 4Q-15 1Q-16 2Q-16 3Q-16 4Q-16 1Q-17 2Q-17 3Q-17 LPI Peer Average Gap between LPIs unit LOE vs. peers has…
  12. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 12
    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…
  13. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 13
    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…
  14. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 14
    Sugg-Graham Nine-Well Package Performing vs. Type Curve Wells drilled with tighter spacing are exceeding type curve expectations 600 Cumulative Production (MBOE) 500 400 300 200 100 Sugg-Graham nine-well package…
  15. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 15
    2,400 lb/ft Field Tests Confirm LPI Pre-Drill Models 450 400 42% 350 Outperformance to Cumulative Prodcution (MBOE) 300 1.3 MMBOE type curve 250 50% 200 Pre-drill model uplift prediction when utilizing 150 2,400 lb/ft…
  16. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 16
    Strategic Testing Leading to High-Quality, Multi-Zone Co-Development 12 LPI Total Hz 17 LPI Tested Landing Points Wells Drilled1 Landing Points2 Big Data Clearfork Upper/Middle Predictive Spraberry Analytics 4,500 gross ft of…
  17. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 17
    Successfully Increasing Landing Point Density Sugg-Graham Package: South (6 Wells) 2,800 Wolfcamp Upper Landing zones 361 397 379 potentially added for 200 578 development 469 623 Wolfcamp from tighter…
  18. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 18
    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…
  19. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 19
    Maintaining Financial Flexibility 830 MM 592 MM Medallion divestiture net Net debt as of 9/30/17, proceeds1 applied primarily pro forma for the to debt reduction Medallion divestiture2 Debt Maturity Summary 500 400 No debt due…
  20. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 20
    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…
  21. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 21
    Oil, Natural Gas & Natural Gas Liquids Hedges Hedge Totals 4Q-17 FY-18 FY-19 FY-20 Oil total floor volume (Bbl) 1,727,300 9,515,375 5,037,000 366,000 Oil wtd-avg floor price (/Bbl) 55.82 47.42 47.19 45.00 Nat gas total floor volume…
  22. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 22
    4Q-17 Guidance 4Q-17 Production (MBOE/d)... 61 - 64 Product % of total production: Crude oil.. 43% - 45% Natural gas liquids...... 27% - 28% Natural gas.... 27% - 29% Price Realizations (pre-hedge): Crude oil (% of WTI)...... 94%…
  23. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 23
    APPENDIX
  24. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 24
    2017 Capital and Operating Expectations Update FY-17E Drilling & Completions 4 Hz development rigs 60 - 65 Hz wells drill & complete 10,000 lateral length average 2017 Capital Budget 2017 Capital Budget Original: 530 MM Updated:…
  25. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 25
    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…
  26. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 26
    2016 & 2017 YTD Actuals 1Q-16 2Q-16 3Q-16 4Q-16 FY-16 1Q-17 2Q-17 3Q-17 Sales Volumes 3-Stream Sales Volumes MBOE 4,204 4,338 4,718 4,889 18,149 4,716 5,336 5,521 BOE/d 46,202 47,667 51,276 53,141 49,586 52,405 58,632 60,011 %…
  27. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 27
    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% 3-Stream Realized Prices Oil (/Bbl) 41.73…
  28. December 2017 Corporate Presentation – Laredo Petroleum Inc. – slide 28
    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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