Laredo Petroleum -8.6% after Q2 results lag Street views

• Laredo Petroleum (LPI -8.6%) is sharply lower after reporting Q2 earnings and revenue that trailed analyst forecasts.
• Q2 revenue rose 3.2% Y/Y to $183M but fell short of estimates; LPI said it produced a quarterly record 28,653 boe/day during the quarter, up 13% Y/Y.
• Completed 19 horizontal wells during Q2, 15 of which were drilled as stacked laterals on multi-well pads.
• Sees FY 2014 production of 11.1M-11.7M boe.