Laredo Petroleum: Executing Strategy to Increase Stakeholder Value Principles Expand High-Margin Inventory Have acquired 16,000 net acres in Howard and W. Glasscock counties Development transitioned to recent acquisitions New acreage…
Acquisitions Add Oily, High-Margin Inventory Acquisition goal of 6,000+ net Acquired beginning Dec-19 acres per year Howard County Total Net Acres 11,299 Targeting areas with high (50%+) Targets LS/UWC/MWC oil cut Locations1 105 -…
Howard County Development Utilizing Conservative Spacing LPI Leasehold Packages 1 and 2 Packages 3 and 4 16 Wells per Section 16 Wells per Section 12 Wells per Section 12 Wells per Section Lower Spraberry Lower Spraberry 1,320…
Initial Howard County Results Surpassing Expectations 15-well package fully completed in early December 2020 All 11 Wolfcamp wells on production, four Lower Spraberry wells cleaning up Package currently producing 7,200 gross BOPD;…
Acquired Acreage Driving Future Capital Efficiency 2021 Plan First-Year Cumulative Oil Production vs Well Cost2 600 35 180 60 Well Cost/First-Year Oil Production First-Year Oil Production (MBO) 160 500 50 Oil Production…
Maintaining Operational & Cost Advantages in Move to Howard County Drilling & Completions Efficiencies 1,600 Feet per Day 1,200 Efficiency gains 800 maintained in move to Howard County 400 0 1Q-17 2Q-17 3Q-17 4Q-17 1Q-18…
Howard County Sand Mine Drives Additional D&C Cost Reductions Operated on Laredo-owned surface acreage LPI Leasehold Mining Area 5+ years supply of sand Estimated savings of 90,0001 per well Protects against…
Innovation Through Low-Cost Digital Solutions Fostering a digital first mindset to make our business thrive in a digital era by growing opportunities and profits and scaling efficiently Real-Time Intelligent Advancing Value-…
Intelligent Well Enhancing Production Economics Intelligent Well is an Asset Operations and Management framework which adds intelligence to the well management program and ensures that the Company makes the best decision every time…
Actively Managing our Balance Sheet and Debt Ratios Repurchased 61.0 MM face value of unsecured notes for 38.1 MM 62.5% of par, average purchase price 22.9 MM net debt reduction related to repurchase of notes 4.5 MM annualized…
Active Derivatives Strategy Manages Price Risk and Supports Cash Flow Net Cash Received from Derivatives FY-21 Hedged Product Volumes2 (MBOE) Settlements1 in 2020 ( MM) 100 10,000 86.9 8,085 80 8,000 7,087 58.2 60 6,000 5,245…
Protecting the Environment LPI Quarterly Flare & Vent Data 1,400 5.0% Total Flare & Vent (MMcf) (% of Total Production) 1,200 LPI flared 0.09% Total Flare & Vent Basin-wide gas 4.0% 1,000 gas in 4Q-20 takeaway…
Demonstrated ESG Leadership Environment Social Governance 64% 230,000 Reduction in flared/vented gas Pledged & donated by Laredo Board refresh as a percentage of total employees since 2019 55% in last 2 years produced gas vs 2019…
L A R E D O P E T R O L E U M APPENDIX 16
Oil, Natural Gas & Natural Gas Liquids Hedges Hedge Product Summary FY-21 FY-22 Oil total volume (Bbl) 8,084,750 3,759,500 Oil wtd-avg price (/Bbl) - Brent 50.80 47.05 Nat gas total volume (MMBtu) 42,522,500 3,650,000 Nat gas…
YE-19 Base Production Decline Expectations 100 Total Production Decline 80 86.5 MBOE/d 60 60.8 40 49.8 42.4 37.1 33.2 20 0 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 30 Oil Production Decline 25 27.5 20 MBO/d…
Guidance Production: 4Q-20 FY-20 Total production (MBOE/d) 82.0 - 84.0 87.6 - 88.1 Oil production (MBO/d) 21.0 - 23.0 26.6 - 27.1 Average sales price realizations: 4Q-20 (excluding derivatives) Oil (% of WTI) 95% NGL (% of WTI)…
Commodity Prices Used for 4Q-20 Realization Guidance Oil: WTI NYMEX Brent ICE (/Bbl) (/Bbl) Oct-20 39.56 41.55 Nov-20 36.90 38.99 Dec-20 37.32 39.50 4Q-20 Average 37.94 40.03 Natural Gas Liquids: C2 C3 IC4 NC4 C5+ Composite…
Increased Activity Accelerates Development of Howard County DUCs 1Q-20A 2Q-20A 3Q-20A 4Q-20E FY-20E Drilling Rigs 4.0 2.4 1.0 1.0 2.1 Spuds 25 17 7 6 55 Completion Crews 1.7 0.3 0.3 1.0 0.8 Completions 28 5 0 15 48 Total…
Supplemental Non-GAAP Financial Measures Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that we define as net income or loss plus adjustments for share-settled equity-based compensation, depletion, depreciation and…
Supplemental Non-GAAP Financial Measures Consolidated EBITDAX (Credit Agreement Calculation) Consolidated EBITDAX means, for any Person for any period, the Consolidated Net Income of such Person for such period, plus each of the…
Supplemental Non-GAAP Financial Measures Net Debt Net Debt, a non-GAAP financial measure, is calculated as long-term debt less cash. Management believes Net Debt is useful to management and investors in determining the Companys leverage…
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