Laredo Petroleum Announces Second-Quarter 2021 Financial and Operating Results
Laredo Petroleum, Inc. (LPI)
Last laredo petroleum, inc. earnings: 2/12 04:30 pm
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US:NYSE Investor Relations:
investor.laredopetro.com
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Source: GlobeNewswire
TULSA, OK, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Laredo Petroleum, Inc. (NYSE: LPI) ("Laredo" or the "Company") today announced its second-quarter 2021 financial and operating results. Second-Quarter 2021 Highlights Announced agreements to purchase the assets of Sabalo Energy, LLC ("Sabalo") 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 trajectoryIncurred capital expenditures of $95 million, excluding non-budgeted acquisitions and leasehold expenditures, and completed 16 wells during second-quarter 2021Completed and began flowing back the 13-well Davis package in Howard County, the Company's third Howard County development package and first developed on wider spacingProduced an average of 85,924 barrels of oil equivalent ("BOE") per day and 26,440 barrels of oil per day ("BOPD"), both increases of 9% from the first quarter of 2021Held flaring/venting to just 0.29% of produce
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