Welcome to our dedicated page for LPI news (Ticker: LPI), a resource for investors and traders seeking the latest updates and insights on LPI stock.
Laredo Petroleum, Inc., headquartered in Tulsa, Oklahoma, is an independent energy company dedicated to the acquisition, exploration, and development of oil and natural gas properties. The company's primary operations are concentrated in the Permian Basin in West Texas, a region known for its rich hydrocarbon resources.
Laredo Petroleum has built a robust portfolio by focusing on high-quality assets and employing advanced technological methods to maximize production efficiency and resource recovery. The company continuously seeks to expand its footprint through strategic acquisitions and organic growth, ensuring a steady pipeline of projects that contribute to its long-term sustainability.
Recent achievements by Laredo Petroleum include significant improvements in drilling and completion techniques, which have boosted production rates and reduced operational costs. The company is actively engaged in multiple projects aimed at further exploration and development within its core operational areas.
Financially, Laredo Petroleum maintains a solid balance sheet with a prudent approach to capital allocation. The company has consistently demonstrated strong financial performance, supported by a track record of operational excellence and cost management. This fiscal prudence allows Laredo to navigate market fluctuations effectively and sustain growth in varying economic conditions.
Laredo Petroleum collaborates with various partners and stakeholders to enhance its operational capabilities and drive innovation. These partnerships are crucial in leveraging shared expertise and resources to achieve common goals.
The company's commitment to sustainability and responsible resource development is evident in its practices that prioritize environmental stewardship, safety, and community engagement. Laredo Petroleum actively works to minimize its environmental footprint while maximizing the positive impact on the communities where it operates.
For the latest updates, news, and detailed information about Laredo Petroleum's performance and developments, visit the StockTitan webpage.
Laredo Petroleum has filed a prospectus supplement with the SEC to potentially raise up to $75 million through an 'at-the-market' offering program. This program allows for the sale of shares over time, facilitated by Wells Fargo Securities as the sales agent. The funds raised will support general corporate purposes, including capital expenditures and debt refinancing. This offering is part of an effective automatic shelf registration statement and will not constitute an offer until registered properly.
Laredo Petroleum (NYSE: LPI) announced its fourth-quarter and full-year 2020 results, reporting significant operational shifts to Howard County. Highlights include a 27% reduction in capital expenditures and a 21% decrease in drilling costs to $540 per foot. Average production was 87,750 BOE/day, with oil production averaging 26,849 BOPD. A net loss of $874.2 million was reported for 2020, but expectations for 2021 indicate potential Free Cash Flow of $25-$40 million. The company aims for increased oil production through enhanced efficiency and a robust hedging strategy.
Laredo Petroleum, Inc. (LPI) has postponed its fourth-quarter 2020 financial results release and conference call due to severe winter weather affecting operations in Oklahoma and Texas. The new release date is set for February 22, 2021, after market close, with the conference call scheduled for February 23, 2021, at 7:30 a.m. CT. This decision was made to ensure the safety of its team amidst hazardous travel conditions and power outages.
Laredo Petroleum, Inc. (NYSE: LPI) will announce its fourth-quarter 2020 financial results after the market closes on February 17, 2021. A conference call to discuss these results will be held on February 18, 2021, at 7:30 a.m. CT. Participants can join by calling 877.930.8286 or listening online at www.laredopetro.com. A replay will be available shortly after the call until February 25, 2021.
Laredo is an independent energy company based in Tulsa, Oklahoma, focusing on acquisition, exploration, and development of oil and natural gas properties in the Permian Basin.
Laredo Petroleum, Inc. (NYSE: LPI) has appointed Jarvis Hollingsworth and Lori Lancaster to its Board of Directors, effective November 19, 2020. Hollingsworth brings extensive corporate governance and strategic experience, previously serving as General Counsel at Kayne Anderson Capital Advisors. Lancaster, with over 20 years in energy investment banking and a key player in $60 billion of M&A transactions, will provide significant insights as Laredo transforms its asset base. The CEO expressed excitement over these appointments, aiming to enhance the Board's diversity and expertise in challenging industry times.
Laredo Petroleum reported a third-quarter 2020 net loss of $237.4 million, or $20.32 per diluted share. However, Adjusted Net Income was $47 million, or $4.02 per adjusted diluted share. The company generated $71 million in Free Cash Flow and reduced net debt by $64 million. Laredo raised its fourth-quarter and full-year 2020 oil and total production guidance, highlighting operational effectiveness in Howard County. The company hedged 80% of anticipated 2021 oil production at a weighted-average price of $50.80 per barrel, enhancing cash flow protection.
Laredo Petroleum (NYSE: LPI) announced the reaffirmation of its Senior Secured Credit Facility borrowing base at $725 million. In addition, it acquired 2,758 net acres in Howard County for $11.3 million, producing 210 BOE per day. Current borrowings were decreased from $275 million to $220 million, increasing liquidity to $476 million. This acquisition added 12 new drilling locations and enhanced existing ones, strengthening Laredo's operational strategy in the Permian Basin.
Laredo Petroleum, Inc. (NYSE: LPI) is set to announce its third-quarter financial and operational results on November 4, 2020, post-market closure. Following the results, a conference call will take place on November 5, 2020, at 7:30 a.m. CT. Participants can join by dialing 877.930.8286 or from the company's website. Laredo Petroleum focuses on acquiring, exploring, and developing oil and natural gas properties in West Texas's Permian Basin.
Laredo Petroleum, Inc. (NYSE: LPI) announced the appointment of Lisa Lambert to its Board of Directors effective August 13, 2020. Her background in technology and innovation is expected to enhance the Company's digital transformation efforts aimed at increasing efficiencies and cost savings. Lambert is currently the Chief Technology and Innovation Officer at National Grid and has substantial experience in leading investment initiatives. Meanwhile, Peter Kagan has resigned from the Board, marking a significant management change.
FAQ
What is the market cap of LPI (LPI)?
What is Laredo Petroleum, Inc.'s primary business focus?
Where is Laredo Petroleum headquartered?
What recent achievements has Laredo Petroleum made?
What is Laredo Petroleum's financial condition?
What regions does Laredo Petroleum operate in?
How does Laredo Petroleum approach sustainability?
Does Laredo Petroleum engage in partnerships?
What are Laredo Petroleum's core operational areas?
How can I get the latest updates on Laredo Petroleum?
What technological methods does Laredo Petroleum employ?
