Laredo Petroleum (NYSE: LPI) Pure-Play Permian Energy Producer Company Snapshot Acreage Footprint Enterprise Value Dawson Borden Net Acres Years of Inventory2 Q4-21A Production Market Capitalization1 TX 2.7 Billion Howard…
Strong Value Creation Built on Disciplined Execution 2022 Plan to Generate Significant Free Cash Flow to Reduce Leverage FREE CASH FLOW1 2022 EXPANSION 2023+ Free Cash Flow1,2 Net Debt to Adjusted EBITDA1 2019 - 2021 300 million…
Delivered on Value Creation Strategy in 2021 Expanded Oil-Weighted Acreage Inventory Growth through Accretive Transactions Acquired 41,000 net acres in Howard and W. Glasscock counties HOWARD 250 high-margin, oil-weighted locations…
Oil Reserve Growth Driven by Strategic Portfolio Repositioning PV-10 Reserve Value Sensitivity - MM1 Highlights 5,398 Proved reserves PV-10 improved by 260% versus YE-20 4,649 Strategic acquisitions increased oil reserves by 65…
Significant Expansion of Oil-Weighted Inventory in 2021 8 Years of Inventory1 Development Focus Areas Assumes: Current activity pace Low-risk, operated only Current development…
Howard County Inventory and Well Performance Howard - Key Stats and Acreage Position Highlights Acquisition closed in July 2021 expanded acreage position by Net Acres 33,500 Borden 21,000 contiguous net acres Q4-21A Net Production…
W. Glasscock County Inventory and Well Performance W. Glasscock - Key Stats and Acreage Position Highlights Bolt-on acquisition that closed in October 2021 expanded Net Acres 33,000 acreage position by 20,000 net acres Q4-21A Net…
Disciplined, Efficient Capital Program Maintains Prior Year Activity Levels 2022E Capital Program 2022E Operated Turn-in-Line Well Count FY-22 Guidance Capital Expenditures by Category 18 Capital Expenditures (MM) 520 15 15 4% 7%…
Increased Oil Cut & Margin Improvement Drives Free Cash Flow Generation Net Total Production - MBOE/d vs. Oil Production - MBO/d 88 86 85 83 84 79 2022E Total Production, MBOE/d 2022E Oil Production, MBO/d 77 82.0 86.0 39.5 42.5 44…
Free Cash Flow Supports Debt Reduction Net Debt to Adjusted EBITDA1,4 2.4x 2022E Free Cash Flow1,2 Current Liquidity3 300 million 550 million…
Systematic Plan to Achieve Emissions Reductions Targets for 2025 Zero…
Corporate and Community Responsibility Diversity and Inclusion Efforts1 EEO-1 Data 27% 26% 61% 56% Disclosed in Companys 2021 ESG & Climate Risk Report Women in Minorities in Women and/or Female and Workforce Workforce…
Appendix
1Q-22 & FY-22 GUIDANCE Guidance Commodity Prices Used for 1Q-22 1Q-22 FY-22 Jan-22 Feb-22 Mar-22 1Q-22 Avg. Production: - - Crude Oil: - - - - Total Production (MBOE/D) 84.0 87.0 82.0 86.0 WTI NYMEX (/BBO) 82.98 91.00 89.48 87.71…
Active Hedge Program to Protect Free Cash Flow Crude Oil Hedge Book(1) (Volume in MBO; Price in /BBO) Q1-22 Q2-22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Brent Swaps 1,017 1,028 1,040 1,040 4,125 - - - - - WTD Price 48.34…
Supplemental Non-GAAP Financial Measures Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that the Company defines as net income or loss (GAAP) plus adjustments for share-settled equity-based compensation, depletion,…
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 PV-10 (Unaudited) PV-10 is a non-GAAP financial measure that is derived from the standardized measure of discounted future net cash flows, which is the most directly comparable GAAP financial…
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 investors…
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