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February 11, 2014
07:09 EDTLPILaredo Petroleum reports year-end production 11.2 MMBOE
Laredo Petroleum announced proved reserves and preliminary operating results for year-end 2013. Produced 11.2 MMBOE in 2013 with 9.1 MMBOE of Permian production, an increase of approximately 20% in Permian production; Q4 production totaled 24,426 BOE/D. Replaced approximately 577% of Permian production from the drill bit, with total production replacement of approximately 487% at a finding and development cost of $12.00/BOE. Increased proved reserves to a record 203.6 MMBOE, up approximately 27% adjusted for the Anadarko Basin divestiture and up approximately 8% from year-end 2012. Increased oil percentage of proved reserves to approximately 55% from 52% in the prior year. Increased the pre-tax present value of the company's reserves to $3.1B, up approximately 30% from year-end 2012.
News For LPI From The Last 14 Days
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December 18, 2014
08:02 EDTLPILaredo Petroleum downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Laredo Petroleum and others in the Exploration & Production space to Market Perform on concern that access to capital will become much more difficult amid low oil prices.
December 17, 2014
07:59 EDTLPILaredo Petroleum price target lowered to $8 from $14 at Canaccord
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07:40 EDTLPILaredo Petroleum price target lowered to $18 from $22 at Brean Capital
Brean Capital lowered its price target on Laredo Petroleum to $18 from $22 to reflect the decrease in its capital expenditure budget, which calls for a conservative drilling program. Brean Capital reiterated its Buy rating on Laredo Petroleum shares.
December 16, 2014
09:16 EDTLPIOn The Fly: Pre-market Movers
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09:13 EDTLPILaredo Petroleum reports FY15 capital budget of $525M
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December 10, 2014
07:44 EDTLPILaredo Petroleum volatility elevated as shares trend lower
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