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November 2019 Corporate Presentation – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Nov 15, 2019 · 18 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. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 1
    L A R E D O P E T R O L E U M Corporate Presentation November 2019
  2. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 2
    Laredo Petroleum Overview Laredo Petroleum (LPI) Market Cap1: 595 MM; Enterprise Value2: 1,550 MM Operations: Permian Basin (TX), Headquarters: Tulsa, OK 30 Growing Production Oil 81.9 MBOEPD Total Production3 NGL 3Q-19 total…
  3. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 3
    Pivoting Strategy to Increase Stakeholder Value Target consistent Free Cash Flow1 generation and oil growth per net debt-adjusted share Continuous In Process Opportunistic Improve corporate Increase scale Optimize existing returns…
  4. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 4
    Accretive Tier-One Acquisition Delivers Higher-Margin Production 130 MM acquisition price1, well below historic Howard County averages High-margin, tier-one acreage 7,360 net acres / 750 net royalty acres Expected first-year…
  5. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 5
    Howard County Development to Drive Capital Efficiency Cumulative Cash Flow per Well Increased FY-20 & FY-21 5 Expectations: Cumulative Undiscounted 3 Mid-to-high single digit Cash Flow ( MM) 1 annual oil growth -1 40% oil…
  6. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 6
    High-Grading Inventory with Howard County Acquisition Howard Co. - L. Spraberry Clearfork Wells per DSU Inventory Upper/Middle Spraberry 4 30 Lower Spraberry Howard Co. - UWC/MWC Dean Wells per DSU Inventory Upper Wolfcamp 12…
  7. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 7
    Surpassing Guidance on Production & Expenses 3Q-19 Select Results Oil Production Lease Operating Expense Controllable Cash Costs Production 27.8 MBO/d 3.00/BOE 2% beat vs guidance 10% beat vs guidance Total Production G&A…
  8. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 8
    Optimizing Well Productivity and Costs on Existing Acreage 2019 Wider-Spaced Well Results 100 Wider-spaced packages are outperforming Production (MBO) LPIs oil type curve by 18%, reiterating the Cumulative Oil 80 Companys…
  9. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 9
    Demonstrated Discipline and Continuous Improvement Drive Cash Flow 750 28.5 Oil Production 28.1 644 27.9 28.0 27.9 (MBO/d) 27.3 530 27.5 ( MM) 537 495 500 465 465 465 490 27.0 26.5 365 365 26.5 26.0 250 25.5…
  10. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 10
    Hedging Strategy Reduces Impact of Commodity Price Fluctuations 60 58.79 3.50 HH Price (/MMBtu) WTI Price (/Bbl) 55 3.00 52.38 2.72 50 2.50 2.41 45 2.00 40 1.50 Strip 2 LPI Strip2 LPI 2020 Vol Hedged1 Oil: 7,539,600…
  11. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 11
    Oil Value Enhanced Via Gulf Coast Access Gross Physical Transportation Contracts: Medallion firm transportation secured for all crude oil produced Medallion dedicated LPI acreage 10 MBOPD firm transportation on Bridgetex through…
  12. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 12
    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…
  13. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 13
    L A R E D O P E T R O L E U M APPENDIX
  14. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 14
    4Q-19 Guidance Production: Total production (MBOE/d) 76.5 Oil production (MBbl/d) 26.0 Average sales price realizations: (excluding derivatives) Oil (% of WTI) 99% NGL (% of WTI) 20% Natural gas (% of Henry Hub) 29% Operating…
  15. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 15
    Oil, Natural Gas & Natural Gas Liquids Hedges Hedge Product Summary 4Q-19 FY-20 FY-21 Oil total floor volume (Bbl) 2,300,000 7,539,600 912,500 Oil wtd-avg floor price (/Bbl) 60.42 58.79 45.00 Oil total floor volume w. deferred…
  16. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 16
    Supplemental Financial Calculations Net debt to Adjusted EBITDA Net Debt to Adjusted EBITDA is calculated as net debt as of September 30, 2019 divided by trailing twelve-month Adjusted EBITDA ending September 30, 2019 of 555 million.…
  17. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 17
    Supplemental Non-GAAP Financial Measure Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that we define as net income or loss plus adjustments for income taxes, depletion, depreciation and amortization, impairment expense,…
  18. November 2019 Corporate Presentation – Laredo Petroleum Inc. – slide 18
    Free Cash Flow and Projected Free Cash Flow Free Cash Flow does not represent funds available for future discretionary use because those funds are required for future debt service, capital expenditures, working capital, income taxes,…

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