Multi-Year Strategic Transformation Yields a New Laredo New Leadership New Strategy New Assets New Capabilities Hired key leadership roles including CEO, Maximize Free Cash Flow1 Added 57,000 oil-weighted net acres Low-cost,…
New Laredo Focused on Driving Shareholder Value Equitizing Enterprise Value - B Maintaining Capital Discipline 3.3 0.52 Strong asset performance supports steady reinvestment rate 2.6 2.6 Net Debt 0.73 Ability to maintain current…
Executing the Plan Q2 2022 Results Oil Production Capital Discipline1 Free Cash Flow2 41.1 40.3 40.6 110 171 142 138 25 23 4Q-21A 1Q-22A 2Q-22A 4Q-21A 1Q-22A 2Q-22A 4Q-21A 1Q-22A 2Q-22A (Units in MBo/d) (Units in millions)…
Strong Performance in North Howard Driving 2H-22 and FY-23 Expectations North Howard Development 100% of 2H-22 and 92% of FY-23 TILs Oil production outperforming Central Howard by 25% Development Program in 2H-22 & FY-23 Primarily…
Low Breakeven Oil Inventory Underpins Sustainable Free Cash Flow Generation 8 Years of Inventory1 Development Focus Areas Assumes: Current activity pace Low-risk, operated only Current development…
Disciplined, Efficient Capital Program Maintains Prior Year Activity Levels 2022E Capital Program Continuous Improvement Drives Capital Efficient Drilling and Completion Program FY-22 Guidance Drilling Ft. Per Day Per Rig Fractured…
Free Cash Flow Driving Return of Capital and Debt Reductions Rapidly Deleveraging through Free Cash Flow 1 Generation Two-Year Stock Repurchase Net Debt to Consolidated EBITDAX1,2 2022-23 Debt Reduction Target 2.61x Program through…
Significant Upside Potential Supported by Strong Reserves and Cash Flow PV-101,2 Proven Developed Producing Reserve Value Sensitivity - MM Current Adj. Enterprise Value / PDP Peer Comparison3,5 1.0x LPI 1.1x 1.1x 1.1x 3,840 1.1x…
Compelling Investment Opportunity Generating Significant Free Cash Flow1 Returning Capital to Shareholders Reducing Debt and Improving Leverage Equity Upside Potential vs. Peer Group2 1See Appendix for definitions of…
Appendix
2H-22 & FY-22 GUIDANCE Guidance Commodity Prices Used for 3Q-22 3Q-22 4Q-22 FY-22 Jul-22 Aug-22 Sep-22 3Q-22 Avg. Production: - - Crude Oil: - - - - Total Production (MBOE/D) 78.5 81.5 77.5 80.5 82.0 83.5 WTI NYMEX (/BBO) 99.39…
Active Hedge Program to Protect Free Cash Flow (Volume in MBO; Price in /BBO) Q3-22 Q4-22 2H-22 Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Brent Swaps 1,040 1,040 2,079 - - - - - WTD Price 48.34 48.34 48.34 - - - - - Brent Collars 391 391 782 - -…
Systematic Plan to Achieve Emissions Reductions Targets for 2025 Zero…
Corporate and Community Responsibility Diversity and Inclusion Efforts1 EEO-1 Data 27% 26% 61% 60% Disclosed in Companys 2021 ESG & Climate Risk Report Women in Minorities in Women and/or Female and Minority Workforce…
Supplemental Non-GAAP Financial Measures Consolidated EBITDAX (Credit Agreement Calculation Unaudited) Consolidated EBITDAX is a non-GAAP financial measure defined in the Companys Senior Secured Credit Facility as net income or loss…
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 (Unaudited) Net Debt, a non-GAAP financial measure, is calculated as the face value of long-term debt plus any outstanding letters of credit, less cash and cash equivalents. Management…
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