Laredo Petroleum says severe weather will hurt Q4 production

|About: Laredo Petroleum Holdings, ... (LPI)|By:, SA News Editor

Laredo Petroleum (LPI +2.9%) is the latest Permian Basin producer to say that the effects of severe winter weather continues to materially impact operations and will result in total Q4 production below its earlier guidance.

Drilling and completion activities have resumed but pervasive power outages have caused more than 50% of LPI's wells to remain shut-in, and the production of many operating wells has been curtailed due to facilities constraints.