Laredo Petroleum Inc. today announced that the borrowing base of the Company’s Senior Secured Credit Facility was reaffirmed at $725 million in association with the semi-annual redetermination process. Additionally, the Company announced the purchase of 2,758 net acres in Howard County, including production of 210 barrels of oil equivalent per day, for $11.3 million. Senior Secured Credit Facility Highlights Reaffirmed [...]
Laredo Petroleum Inc. will report third-quarter 2020 financial and operating results after the market close on Wednesday, November 4, 2020, and will host a conference call on Thursday, November 5, 2020, at 7:30 a.m. CT to discuss the results. To participate on the call, dial 877.930.8286 , using conference code 2755456 or listen to the call via the Company's website at www.laredopetro.com, under the tab for "Investor [...]
Laredo Petroleum Inc. today announced the appointment of Lisa Lambert to the Company’s Board of Directors . Her appointment as an independent director was effective August 13, 2020. Additionally, Peter Kagan has resigned from the Board, also effective August 13, 2020. Ms. Lambert’s background in the technology sector, leading innovation efforts and global investment initiatives, brings a unique perspective to Laredo’s [...]
Laredo Petroleum Inc. today announced its second-quarter 2020 results. For the second quarter of 2020, the Company reported a net loss attributable to common stockholders of $545.5 million, or $46.75 per diluted share. Adjusted Net Income, a non-GAAP financial measure, for the second quarter of 2020 was $28.4 million, or $2.43 per adjusted diluted share. Adjusted EBITDA, a non-GAAP financial measure, for the second [...]
Laredo Petroleum Inc. will report second-quarter 2020 financial and operating results after the market close on Wednesday, August 5, 2020, and will host a conference call on Thursday, August 6, 2020, at 7:30 a.m. CT to discuss the results. To participate on the call, dial 877.930.8286 , using conference code 4172567 or listen to the call via the Company's website at www.laredopetro.com, under the tab for "Investor [...]
Laredo Petroleum Inc. , today named Bryan Lemmerman as Senior Vice President and Chief Financial Officer, effective June 30, 2020. Michael Beyer will be leaving the Company effective June 17, 2020. Mr. Lemmerman has more than 15 years of experience in the energy exploration and production industry, including an extensive background in strategic planning and business development. He previously spent 10 years with [...]
Laredo Petroleum Inc. , today announced the appointment of William Albrecht as independent Chairman of the Board of Directors , succeeding Randy Foutch upon the expiration of Mr. Foutch's term on May 14, 2020. Mr. Albrecht, currently an independent member of the Board, will continue to serve on the Compensation Committee and Nominating and Corporate Governance Committee. "Bill's appointment as Chairman fulfills Laredo's [...]
Laredo Petroleum Inc. , today announced that at the Company's Annual Meeting, its stockholders voted to approve a proposal authorizing the Company, at the discretion of the Board of Directors, to effect a reverse stock split of the Company's common stock at a ratio ranging from 1-for-5 to 1-for-20 of shares currently outstanding and a corresponding reduction in the number of authorized shares of the Company's common [...]
Laredo Petroleum Inc. today announced its first-quarter 2020 results. For the first quarter of 2020, the Company reported net income attributable to common stockholders of $235.1 million, or $1.01 per diluted share. Adjusted Net Income, a non-GAAP financial measure, for the first quarter of 2020 was $21.1 million, or $0.09 per adjusted diluted share. Adjusted EBITDA, a non-GAAP financial measure, for the first quarter of [...]
Laredo Petroleum Inc. will report first-quarter 2020 financial and operating results after the market close on Wednesday, May 6, 2020, and will host a conference call on Thursday, May 7, 2020, at 7:30 a.m. CT to discuss the results. To participate on the call, dial 877.930.8286 , using conference code 5191340 or listen to the call via the Company's website at www.laredopetro.com, under the tab for "Investor Relations." A [...]
Laredo Petroleum Inc., a Delaware corporation , announced today that on March 26, 2020, it received formal notice from the New York Stock Exchange that the average closing price of the Company's common stock over the prior 30-consecutive trading day period was below $1.00 per share, which is the minimum average share price for continued listing on the NYSE. Laredo intends to notify the NYSE of its intent to cure the [...]
Laredo Petroleum Inc. , today provided an update to the Company's 2020 capital budget and operating plan. Prioritizing Free Cash Flow1, returns and balance sheet strength in a volatile commodity price environment, the Company has reduced its 2020 capital budget by 36%, to $290 million from the previously-announced $450 million, and expects to generate approximately $90 million in Free Cash Flow1, excluding non-budgeted [...]
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