Laredo Petroleum Inc. today announced its second-quarter 2021 financial and operating results. Second-Quarter 2021 Highlights Announced agreements to purchase the assets of Sabalo Energy, LLC and divest of 37.5% of the Company's legacy proved developed producing reserves, transforming Laredo's expected future production mix and Free Cash Flow1 trajectory Incurred capital expenditures of $95 million, excluding non-budgeted [...]
Laredo Petroleum Inc., a Delaware corporation , announced today the pricing of $400 million in aggregate principal amount of 7.750% senior unsecured notes due 2029 at par in a private offering to eligible purchasers. The Company intends to use the net proceeds from the offering for general corporate purposes, including repaying the borrowings outstanding under the Company's senior secured credit facility. The offering is [...]
Laredo Petroleum Inc., a Delaware corporation , announced today that it intends, subject to market conditions, to offer $400 million in aggregate principal amount of senior unsecured notes due 2029 in a private offering to eligible purchasers. The Company intends to use the net proceeds from the offering, if completed, for general corporate purposes, including, repaying a portion of the borrowings outstanding under the [...]
Laredo Petroleum Inc. today provided preliminary production results and an operational update for the second quarter of 2021 and its revised capital budget and production guidance for full-year 2021 in association with the closing of the acquisition of the Howard County leasehold of Sabalo Energy, LLC and the divestiture of legacy proved developed producing reserves. Second-Quarter 2021 Operational Update In the second [...]
Laredo Petroleum Inc. announced today that it has closed its previously announced transactions to acquire the oil-weighted Howard County leasehold of Sabalo Energy, LLC , a portfolio company of EnCap Investments L.P., and a non-operating partner, and to partially divest of certain legacy gas-weighted proved developed producing reserves to an affiliate of Sixth Street Partners, LLC . Additionally, the Company announced the [...]
Laredo Petroleum Inc. today announced the signing of a purchase and sale agreement to acquire the assets of Sabalo Energy, LLC , a portfolio company of EnCap Investments L.P. , and a non-operating partner for approximately $715 million, subject to customary closing price adjustments, comprised of $625 million in cash and approximately 2.5 million shares of Laredo common equity. Additionally, the Company announced the sale [...]
Laredo Petroleum Inc. today announced its first-quarter 2021 financial and operating results. First-Quarter 2021 Highlights Generated $71 million of cash flows from operating activities and $22 million of Free Cash Flow1 Sold 723,579 shares at an average price of $38.75 for net proceeds of $26.9 million through the Company's at-the-market equity program Reduced Net Debt1 by $30 million during the quarter Produced an [...]
Laredo Petroleum Inc. will report first-quarter 2021 financial and operating results after the market close on Wednesday, May 5, 2021, and will host a conference call on Thursday, May 6, 2021, at 7:30 a.m. CT to discuss the results. To participate on the call, dial 877.930.8286 , using conference code 3195169 or listen to the call via the Company's website at www.laredopetro.com, under the tab for "Investor Relations." A [...]
Laredo Petroleum Inc. announced today that it has filed a prospectus supplement with the Securities and Exchange Commission under which it may offer and sell from time to time and at its discretion shares of its common stock having an aggregate gross sales price of up to $75.0 million pursuant to an "at-the-market" offering program . Laredo has entered into an equity distribution agreement with Wells Fargo Securities, LLC [...]
Laredo Petroleum Inc. today announced its fourth-quarter and full-year 2020 financial and operating results. Full-Year 2020 Highlights Fully transitioned development operations to Howard County acreage and successfully completed the Company's first well package Added 4,000 net acres in Howard County at an average price of $7,200 per net undeveloped acre Produced an average of 87,750 barrels of oil equivalent per day and [...]
Laredo Petroleum Inc. today published its inaugural ESG and Climate Risk Report, covering data for 2019 operations. The report and data tables are available on the Company's website at www.laredopetro.com, under the tab for "Sustainability." Report Highlights Establishment of key emissions reduction targets: a 20% reduction in GHG intensity by 2025, zero routine flaring by 2025 and a reduction of methane emissions to less [...]
Laredo Petroleum Inc. today announced it is rescheduling the release of its fourth-quarter 2020 financial and operating results and conference call due to the impacts of severe winter weather in Oklahoma and Texas. The resulting hazardous travel conditions and power outages are impacting both field and corporate operations and the ability of Laredo's team members to work safely. The new release date is after the market [...]
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