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First Quarter 2021 Presentation – Laredo Petroleum Inc.

Laredo Petroleum Inc. · May 5, 2021 · 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. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 1
    First-Quarter 2021 Earnings Presentation May 5, 2021
  2. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 2
    Successfully Executed Strategy in the First Quarter of 2021 Principles Manage Risk Continuously Expand High- Improve Margin Inventory Generated Free Cash Flow1 of Reduced DC&E costs to 525 New Howard County wells 22 million and…
  3. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 3
    Actively Managing our Balance Sheet and Commodity Hedges 800 2.4x Net Debt to Adj. EBITDA1,2 505 Debt ( MM) 600 2.6x Net Debt to Consolidated 578 400 EBITDAX1,2 361 200 44 MM Cash Balance3 220 0 FY-21 FY-22 FY-23 FY-24…
  4. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 4
    Ambitious Emissions Reduction Targets For the second consecutive year, flaring/venting reduction targets are part of executive compensation metrics Emissions Reductions Targets for 2025 Percentage of Produced Natural Gas…
  5. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 5
    Maintaining Operational & Cost Advantages in Howard County Drilling & Completions Efficiencies 1,800 1,500 Feet per Day 1,200 900 600 300 0 2017 2018 2019 2020 Drilled Feet/Day/Rig Fractured Feet/Day/Crew 800 Consistently…
  6. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 6
    Laredo-Owned Sand Mine Saves on Completions Costs Operated on Laredo-owned surface acreage LPI Leasehold Mining Area 5+ years supply of sand Realized savings of 90,0001 per well Protects against sand cost Utilized in…
  7. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 7
    Successfully Building Oily, High-Margin Inventory FY-21 development entirely within Howard and W. Howard County Total Glasscock counties Net Acres 12,168 Targets LS/WC-A Company oil cut expected to rise from 30% at Locations1 105 -…
  8. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 8
    Development of High-Margin Inventory Improves Capital Efficiency 2021 Capital and Production Guidance 400 30 100 Total Production (MBOE/d) Oil Production (MBO/d) Total Capital (MM) 300 25 80 200 351 360 26.8 27.3 - 29.3…
  9. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 9
    Second-Quarter and Full-Year 2021 Guidance Production: 2Q-21 FY-21 Total production (MBOE/d) 83.0 - 86.0 80.0 - 85.0 Oil production (MBO/d) 26.5 - 27.5 27.3 - 29.3 Average sales price realizations: 2Q-21 (excluding derivatives) Oil…
  10. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 10
    L A R E D O P E T R O L E U M APPENDIX 11
  11. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 11
    Oil, NGL & Natural Gas Hedges Crude Oil Hedge Book Natural Gas Liquids Hedge Book Natural Gas Hedge Book Bal-2021 FY 2022 Bal-2021 FY 2022 Bal-2021 FY 2022 Brent Swaps (MBbl) 5,651 4,125 Ethane Swaps (MBbl) 688 0 Henry Hub Swaps…
  12. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 12
    2020/2021 Capital Budget & Activity Capital Budget ( MM) 400 360 FY-20A FY-21E 351 30 Spuds 55 53 35 16 30 300 Completions 48 55 Working Interest 98.5% 100% 200 Lateral Length 9,000 9,800 300 300 100 Expect to complete 25%…
  13. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 13
    YE-20 Base Production Decline Expectations 100 Total Production Decline1 81.2 80 MBOE/D 66.6 60 54.9 47.5 42.1 37.9 40 79.5 62.3 52.5 45.9 20 41.0 36.9 0 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Legacy Howard County 25…
  14. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 14
    Commodity Prices Used for 2Q-21 Average Sales Price Realization Guidance Oil: Natural Gas: WTI NYMEX Brent ICE HH Waha (/Bbl) (/Bbl) (/MMBtu) (/MMBtu) Apr-21 61.70 65.30 Apr-21 2.59 2.37 May-21 63.55 66.71 May-21 2.93 2.68 Jun-21…
  15. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 15
    Supplemental Non-GAAP Financial Measures Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that we define as net income or loss (GAAP) plus adjustments for share-settled equity-based compensation, depletion, depreciation…
  16. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 16
    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…
  17. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 17
    Supplemental Non-GAAP Financial Measures Free Cash Flow Free Cash Flow is a non-GAAP financial measure that we define as net cash provided by operating activities (GAAP) before changes in operating assets and liabilities, net, less costs…
  18. First Quarter 2021 Presentation – Laredo Petroleum Inc. – slide 18
    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…

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