Transformative Transactions Howard County Acquisition Legacy PDP Divestiture May 9, 2021
Transactions Accelerate Laredos Transformation Laredos path to lower leverage and higher margins Accretive Increased Free Reduced Higher Oil Cut Additional High- Cash Flow Leverage Margin Inventory Generation Expected to be…
Combined Transactions Reshape Laredo Production Mix Production by Area Gross Operated Locations Leverage Net Debt1 to EBITDAX1,2 FCF1 (mm) 1SeeAppendix for definitions of non-GAAP financial measures; 2 Net Debt / TTM…
Sabalo Acquisition Establishes Large, Contiguous Howard County Position Establishes core position in Howard County of 33,000 net acres Contiguous acreage position directly adjacent to existing position Pro Forma Howard County Leasehold…
Divestiture Further Focuses Laredo on Newly Acquired Properties Sale of 37.5% of Laredos working interest in operated PDP reserves to an affiliate of Sixth Street Partners, LLC for 405 million plus potential cash-flow based…
L A R E D O P E T R O L E U M APPENDIX
Supplemental Non-GAAP Financial Measures Net Debt Net Debt, a non-GAAP financial measure, is calculated as the face value of long-term debt less cash and cash equivalents. Management believes Net Debt is useful to management 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…
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