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EnerCom Oil and Gas Conference – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Aug 13, 2019 · 15 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. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 1
    L A R E D O P E T R O L E U M The Oil & Gas Conference Jason Pigott President
  2. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 2
    Laredo Petroleum Overview Laredo Petroleum (LPI) Market Cap: 590 MM1 Operations: Permian Basin (TX), Headquarters: Tulsa, OK 2Q-19 30,400 82,200 260 Barrels of Oil per Day BOE per day Employees 30 Growing Production Oil Total…
  3. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 3
    2019: A Transformational Year 700,000/well savings since YE-18 Optimized operations Moved to wider-spaced development 30 MM/year annualized cash & non-cash expenses & capital Aligned personnel savings expected costs with activity…
  4. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 4
    Wider Spacing Improves Oil Productivity Initial Yellow Rose package results confirm that completed wider spacing shift is improving productivity and returns versus 2018 120 Cumulative Oil Production 100 Per 10,000 (MBO)…
  5. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 5
    Wider Spacing & Reduced Well Costs Improve IRR Per Well Costs & Drilling ROR 8 7.7 35% 7.5 31% 30% Per Well Cost ( MM) Per Well ROR (%) 7.0 25% 7 25% 20% 15% 6 10% 9% 5% 5 0% FY-18A FY-19 Original FY-19E Current FY-18A…
  6. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 6
    Surpassing Guidance on Production & Expenses 2Q-19A Select Results Oil Production Lease Operating Expense Controllable Cash Costs Production 30.4 MBO/d 3.16/BOE 7% Beat vs guidance 4% Beat vs guidance Total Production G&A…
  7. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 7
    Higher FY-19 Oil Guidance, Maintaining Capex & Generating Free Cash 750 30 644 27.9 Oil Production 28 27.3 27.9 (MBO/d) 537 ( MM) 26.5 495 26 500 465 465 465 24 365 365 22 250 20 FY-18A FY-19 Original FY-19…
  8. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 8
    High-Grading Inventory to Reduce Risk & Maximize Returns UWC/MWC Combined Clearfork Wells per DSU Drill Pattern Inventory1 Upper/Middle Spraberry Lower Spraberry 8 - 12 350 - 500 Dean Upper Wolfcamp Middle Wolfcamp Regional…
  9. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 9
    Cline Reintroduced As Primary Target Due to Cost Savings Regional Cline wells exceed near-term UWC/MWC oil productivity 300 300 Cumulative Oil Production Cumulative Oil Production 250 250 200 200 (MBO) (MBO) 150 150…
  10. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 10
    Existing Infrastructure Reduces Operating Costs 345 miles of crude, water & natural gas gathering, recycled 12 consecutive quarters with water distribution & natural gas unit LOE less than 4.00/BOE distribution pipelines 7 6…
  11. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 11
    Infrastructure Protects the Environment & Enhances Economics LPI In-Place Infrastructure 60 Miles 170 miles Crude oil gathering pipelines Natural gas gathering pipelines 110 Miles 54 MBWPD Water gathering & distribution pipelines…
  12. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 12
    Oil Value Enhanced Via Gulf Coast Access WIP Gross Physical Transportation Contracts: Medallion firm transportation secured for all crude oil produced within dedication area 10 MBOPD firm transportation on Bridgetex through 1Q-22,…
  13. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 13
    2019 Product Hedges Protect Cash Flow 65 3.50 60.42 3.09 HH Price (/MMBtu) 60 WTI Price (/Bbl) 56.68 3.00 55 2.50 2.36 50 2.00 45 40 1.50 Strip LPI Strip LPI % Hedged1 Oil: 95% Natural Gas: 70% 1.50 NGL Price…
  14. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 14
    Stronger than Expected Cash Flow Generation Used to Pay Down Debt 700 1.7x net debt to 600 495 600 Adjusted EBITDA1 500 465 Debt ( MM) 905 MM of 500 available liquidity2 400 ( MM) 400 296 285 300 300 210 200 169 200…
  15. EnerCom Oil and Gas Conference – Laredo Petroleum Inc. – slide 15
    Redefined Development Strategy Drives Free Cash Flow Generation High-Grading Free Cash Flow Inventory Optimizing Spacing Controlling Costs Improved Returns Driving Operational Efficiencies Ongoing Financial Measured Oil…

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