Laredo Petroleum: Pure-Play Permian Energy Producer Laredo Petroleum (NYSE: LPI) Market Capitalization1 956 Million Enterprise Value1 2.35 Billion Net Acres 148,000 2021E Production2 78.5 MBOE/d 2021E Oil Production2 31.0 MBO/d…
Rapidly Executing Transformational Strategy Expand High-Margin Manage Continuously Inventory Risk Improve Added 37,500 net acres of oil-weighted No term-debt maturities until 2025 Reduced percentage of produced natural leasehold in…
Oily, High-Margin Inventory Built Through Acquisition Strategy W. Glasscock County Howard County Total Net acres 4,350 33,150 37,500 Target formations LS/WC-A/WC-B LS/WC-A * Locations (gross)1 40 225 265 Laredo Leasehold Central…
Development Focused on Acquired Leasehold 1 2 3 Laredo Leasehold Central Howard W. Glasscock North Howard FY-21E FY-22E Guidance Preliminary1 Spuds 64 60 Completions 67 60 Working Interest 100% 96% Lateral Length 10,000'…
Laredo-Owned Sand Mine Saves on Completions Costs Operated on Laredo-owned surface acreage 5+ years supply LPI Leasehold of sand Mining Area 200,0001 savings per well versus market price Utilized in all 2Q-21 completions,…
Operations Focused on Reducing Emissions For the second consecutive year, flaring/venting reduction targets are part of executive compensation metrics Emissions Reduction Targets for 2025 20% reduction in GHG intensity1 Zero…
Corporate and Community Responsibility Diversity1 Safety Governance TRIR2 Women in 0.86 Board refresh workforce 27% 67% in last 2 years 0.74 2019 2020 Minorities in Laredo had zero at-fault Independent 25% 89% Directors…
Actively Managing our Balance Sheet & Liquidity Current Maturity Profile No term-debt maturities 1,400 until 2025 1,200 673 MM Liquidity2 Executed At-the-Market equity program YTD 2021 62 MM Cash Balance2 Proceeds from issuance…
Active Hedge Program to Protect Free Cash Flow 1Hedge percentage calculated off mid-point guidance Note: NGL barrel composition includes 42% Ethane, 33% Propane, 11% Butane, 3% Isobutane and 11% Pentane 12
Guidance Production: 3Q-21 4Q-21 FY-21 Total production (MBOE/d) 74.5 - 77.5 77.5 - 80.5 77.0 - 80.0 Oil production (MBO/d) 33.5 - 35.5 37.5 - 39.5 30.5 - 31.5 Incurred capital expenditures1 ( MM) 150 105 420 Average sales price…
L A R E D O P E T R O L E U M APPENDIX
Recent Acquisition/Divestiture Drives Significantly Higher Oil Cut Acquisition Overview_____________________________________________________________ Establishes core position in Howard County of 33,000 net acres Contiguous acreage…
Transactions Improve Company Fundamentals Free Cash Flow1 (mm) Leverage Net Debt to EBITDAX1,2 Expected cumulative Free Cash Flow1 of 700mm by end of FY-25 Anticipate leverage1,2 approaching 1.0x by end of FY-25 Expected 80%…
Howard County Driving Reserves Value 209,086 MBOE 1,564 MM Howard County proved developed reserves PV-103 are 69% oil, significantly increasing Laredos exposure to higher oil prices 1Based only on wells categorized as…
Commodity Prices Used for 3Q-21 Average Sales Price Realization and Derivatives Guidance Oil: Natural Gas: WTI NYMEX Brent ICE HH Waha (/Bbl) (/Bbl) (/MMBtu) (/MMBtu) Jul-21 72.43 74.25 Jul-21 3.62 3.36 Aug-21 73.72 75.37 Aug-21…
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…
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 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 PV-10 PV-10, a non-GAAP financial measure, is derived from the standardized measure of discounted future net cash flows, which is the most directly comparable GAAP financial measure. PV-10 is a…
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