Laredo 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.
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