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3Q 2022 Earnings Presentation – Laredo Petroleum Inc.

Laredo Petroleum Inc. · Nov 4, 2022 · 14 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. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 1
    3Q-2022 Earnings Presentation
  2. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 2
    Disciplined Strategy Underpins Long-Term Value Creation Pure-Play Midland Basin Producer Maintain Capital Discipline TX HOWARD Generate Free Cash Flow1 33,000 net acres 165 locations2 35.5 Mboe/d 70% oil Howard Reduce Debt and…
  3. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 3
    Executing the Plan Q3-22 Results Free Cash Flow1 Repurchasing Debt 183 245 109 Program 152 Initiated 2Q-22 51 23 32 1Q-22A 2Q-22A 3Q-22A 1Q-3Q 22A 1Q-22A 2Q-22A 3Q-22A YTD-22A2 (Units in millions) (Units in millions)…
  4. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 4
    Current Development Plan Focused on Howard County Near-Term Development Program Focused in North Howard Average Well Performance1 North Howard Central Howard (2Q-21+) Central Howard (4Q-20 to 1Q-21) Leech (2Q-22) Shaded Curves…
  5. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 5
    Disciplined, Capital Efficient Development Program 4Q-22E Capital Program Continuous Improvement Drives Capital Efficient Drilling and Completion Program Guidance Drilling Ft. Per Day Per Rig Fractured Ft. Per Day Per Crew Avg.…
  6. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 6
    Free Cash Flow Driving Return of Capital and Debt Reductions Rapidly Deleveraging through Free Cash Flow1 Generation Net Debt to Consolidated EBITDAX1,3 1Q-3Q 22A Free Cash Flow 1 Total Debt2,4 Reduced Since YE-21 2.61x 183 million…
  7. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 7
    Systematic Plan to Achieve Emissions Reductions Targets for 2025 Zero…
  8. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 8
    Compelling Investment Opportunity 2023E EV / EBITDAX vs. FCF Yield Peer Comparison2,3 8.0x 6.0x Average Generating 4.0x 2.0x Free Cash Flow1 0.0x LPI 0% 10% 20% 30% Enterprise Value / PDP Peer Comparison2,3…
  9. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 9
    Appendix
  10. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 10
    4Q-22 GUIDANCE Guidance Commodity Prices Used for 4Q-22 4Q-22 Oct-22 Nov-22 Dec-22 4Q-22 Avg. Production: - Crude Oil: - - - - Total Production (MBOE/D) 72.5 75.5 WTI NYMEX (/BBO) 87.03 86.21 84.97 86.07 Crude Oil Production…
  11. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 11
    Active Hedge Program to Protect Free Cash Flow (Volume in MBO; Price in /BBO) Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Brent Swaps 1,040 - - - - - WTD Price 48.34 - - - - - Brent Collars 391 - - - - - WTD Floor Price 56.65 - - - - - WTD…
  12. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 12
    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…
  13. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 13
    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…
  14. 3Q 2022 Earnings Presentation – Laredo Petroleum Inc. – slide 14
    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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