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Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Sep 4, 2018 · 29 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. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 1
    Barclays CEO Energy-Power Conference Randy Foutch Chairman & CEO September 6, 2018
  2. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 2
    2Q-18 Highlights 15% Production growth YoY from 2Q-17 1.4x Net debt to Adjusted EBITDA1 Increase in QoQ adjusted EBITDA per 8% net debt-adjusted share 8 th consecutive of LOE below 4.00/BOE quarter 1Net debt to…
  3. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 3
    Achieved New Drilling Days Record in 2Q-18 Average Drilling Days 16 14 Days per 10,000 (Normalized) 13.4 12 2017 Avg: 11.3 days 11.4 10 10.8 10.6 1H-18 Avg: 9.8 days 9.6 8 9.0 6 4 2 0 1Q-17 2Q-17 3Q-17 4Q-17 1Q-18…
  4. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 4
    Completions Efficiencies Improving Cycle Times Completions Crew Performance 450 400 420 Thousand Lateral Feet per Crew 350 1H-18 Avg: 365,000 lat. feet/crew 300 313 2017 Avg: 273,000 lat. feet/crew 309 250 286 266 200 226…
  5. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 5
    Continued Efficiency Improvements Gross Completed Lateral Feet Per Rig 225,000 200,000 original budget Completed Feet per Rig 175,000 150,000 125,000 100,000 75,000 50,000 25,000 0 2013 2014 2015 2016 2017 2018E…
  6. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 6
    2018 Current Capital Program 2018 Capital Program (as of August 2018) 700 630 600 85 500 Completing 70 net wells Capital ( MM) 400 10,400 avg. Hz lateral length 300 545 200 96% avg. working interest 100 0 Facilities &…
  7. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 7
    Consistent Production Growth Production 26 24 22 Total Production1 (MMBOE) 20 18 16 14 12 10 8 6 4 2 0 2011 2012 2013 2014 2015 2016 2017 2018E Oil Natural Gas NGL Expected Production 10% FY-18E YoY oil production…
  8. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 8
    Increasing Adjusted EBITDA Per Average Net Debt-Adjusted Share 0.50 100 Net Debt-Adjusted Share 90 Adj. EBITDA/Average 0.45 WTI Price (/Bbl) 80 0.40 70 0.35 60 0.30 50 0.25 40 1Q-17 2Q-17 3Q-17 4Q-17 1Q-18 2Q-18…
  9. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 9
    Future Planned Development Activity 10
  10. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 10
    Development Optionality Created With Higher-Density Development 1 section 16 wells 1 section Up to 32 wells Wolfcamp Upper Wolfcamp Middle Development option one Development option two Co-development package results to date…
  11. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 11
    Proven Co-Development Potential Via Three Packages 138,791 gross/122,061 net acres Three packages successfully tested the co-development potential of different landing points within zones Targeted Sugg A 157/158 Lane Trust Fuchs…
  12. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 12
    Co-Development Oil Results: Three UWC/MWC Packages Cumulative Oil Production 150 100 MBO 50 6% uplift vs LPI oil type curve 0 0 30 60 90 120 150 180 210 240 270 300 330 360 390 420 Producing Days Individual Well…
  13. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 13
    Co-Development Results: Three UWC/MWC Packages Cumulative Total Production 350 300 250 MBOE 200 150 100 50 20% uplift vs LPI BOE type curve 0 0 30 60 90 120 150 180 210 240 270 300 330 360 390 420 Producing Days…
  14. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 14
    Planned 2H-18 Development Activity 138,791 gross/122,061 net acres Four packages planned for completion in 2H-18 Targeted Barbee B Sugg D 104 Sugg A 141 SRH Landing 47-48 (6 wells) (10 wells) (8 wells) Points (8 wells) UWC B X UWC…
  15. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 15
    Confident In Ability To Exit The Basin 16
  16. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 16
    Natural Gas Operational Assurance & Value Protection LMS assets provide field-level optionality to move production to an alternate purchaser when needed Targa processes 90% of LPIs liquids-rich natural gas volumes 71% of 2H-18E…
  17. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 17
    Crude Flow Assurance Supported By LMS & Medallion Infrastructure LMS-owned truck stations shorten hauls…
  18. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 18
    Oil Value Protected Via Gulf Coast Access & Financial Contracts 2018 2019 1 Gross Physical Transportation Contracts: 10 MBOPD gross firm transportation on Bridgetex available through 1Q-26 2 MBOPD (Sep-18 thru 2019) gross…
  19. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 19
    Consistent Financial Hedging Program 16,000 14,000 12,000 Volumes (MBOE) 10,000 8,000 6,000 4,000 2,000 0 Commodity Basis Commodity Basis Commodity Basis Commodity Basis 2018 2019 2020 2021 Crude Natural Gas NGL 5.625%…
  20. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 20
    Positioned For The Future Operational Efficiencies Strong Balance Sheet facilitated by contiguous acreage provides flexibility Production Corridors Investment Optionality reducing costs & enabling enhances shareholder value…
  21. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 21
    APPENDIX
  22. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 22
    Oil, Natural Gas & Natural Gas Liquids Hedges Hedge Product Summary 2H-18 FY-19 FY-20 FY-21 Oil total floor volume (Bbl) 4,796,350 8,687,000 2,196,000 912,500 Oil wtd-avg floor price (/Bbl) 47.42 47.91 47.27 45.00 Nat gas total floor…
  23. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 23
    3Q-18 Guidance 3Q-18E Production (MBOE/d).... 71.0 Crude oil production (MBbl/d).............................. 29.1 Price Realizations (pre-hedge): Crude oil (% of WTI)..... 86% Natural gas liquids (% of WTI)......... 33% Natural…
  24. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 24
    2017 Vintage Completions Performance Cumulative Oil Production 200 150 MBO 100 50 0 6% uplift vs LPI oil type curve 0 100 200 300 400 500 Producing Days Cumulative Oil Production Laredo Oil Type Curve Cumulative Total…
  25. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 25
    2016 Vintage Completions Performance Cumulative Oil Production 250 200 MBO 150 100 50 22% uplift vs LPI oil type curve 0 0 100 200 300 400 500 600 700 800 900 Producing Days Cumulative Oil Production Laredo Type Curve…
  26. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 26
    2015 Vintage Completions Performance Cumulative Oil Production 200 150 MBO 100 50 4% below LPI oil type curve 0 0 200 400 600 800 1,000 1,200 Producing Days Cumulative Oil Production Laredo Oil Type Curve Cumulative…
  27. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 27
    Significant Benefits Through Water Infrastructure Investments LPI leasehold Water Infrastructure Water storage Water treatment facility Water lines (existing) Water corridor benefits 110 miles of water gathering & distribution…
  28. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 28
    Unit LOE Expected To Trend Down Remainder Of Year Unit LOE Cost 8 7 6 5 /BOE 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 4Q-17 1Q-18 2Q-18 Contiguous acreage & infrastructure…
  29. Barclays Global CEO Energy Power Conference – Laredo Petroleum Inc. – slide 29
    Supplemental Non-GAAP Financial Measure Reconciliation 1Q-17 2Q-17 3Q-17 4Q-17 1Q-18 2Q-18 (in thousands) Net income 68,276 61,110 11,027 408,561 86,520 33,452 Plus: Income tax expense - - - 1,800 - - Depletion, depreciation and…

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