Laredo Petroleum Inc, together with its subsidiaries, is an independent energy company focused on the exploration, development and acquisition of oil and natural gas properties mainly in the Permian Basin in West Texas.
Thursday, Apr 1010:46 AM
Thursday, Apr 1010:46 AM| 37 Comments
- Oklahoma is experiencing a noticeable increase in earthquakes near drilling sites, according to the Oklahoma Geological Survey, suggesting a potential link between fracking and seismic activity.
- The state already has experienced as many earthquakes YTD than all of last year combined: 109 earthquakes with a magnitude 3 or higher through April 6, the same number of earthquakes as in all of 2013.
- The incidents pose a conundrum for regulators in a state that has fully embraced oil and gas drilling.
- Among drillers with a significant Oklahoma presence: CHK, CLR, APA, DVN, SD, EOG, MRO, OKE, OKS, GPOR, WPX, WMB, WPZ, LPI, CWEI, NFX, NGL, COG, WLL, NBL, MPO, PQ, XEC
Wednesday, Apr 22:59 PM|Wednesday, Apr 22:59 PM| Comment!
Thursday, Feb 278:51 AM
Thursday, Feb 278:51 AM| Comment!
- Laredo Petroleum Holdings, Inc. (LPI): Q4 EPS of $0.13 beats by $0.04.
- Revenue of $153.4M (+0.6% Y/Y) beats by $1.79M.
Thursday, Feb 2712:05 AM|Thursday, Feb 2712:05 AM| Comment!
Wednesday, Feb 265:30 PM|Wednesday, Feb 265:30 PM| 1 Comment
Thursday, Dec 192013, 3:59 PM
Thursday, Dec 192013, 3:59 PM| 1 Comment
- Laredo Petroleum (LPI +2.8%) is a Buy opportunity after its recent pullback, Canaccord Genuity believes, after LPI recently raised its production guidance to 2.1M-2.2M boe as drilling and completion activities following severe weather in the Permian Basin have returned to normal and said the Q1 impact will be minimal.
- As LPI shifts its focus to full scale development of its core Garden City asset in 2014, the firm thinks the company is on pace to achieve ~35% Permian production growth Y/Y, skewed upwards if well results exceed type curves.
Monday, Dec 92013, 3:44 PM
Monday, Dec 92013, 3:44 PM| Comment!
- Laredo Petroleum (LPI -0.2%) announces a $1B capital budget for 2014, with 84% focused on drilling and completion activities, in a program LPI expects will drive a ~30% annual growth in production volumes from its Permian Basin properties.
- LPI forecasts total 2014 production of 12.2M-12.7M boe (58% oil), or 33.4K-34.8K boe/day, highlighted by the beginning of ramping up development drilling activities at its Permian-Garden City asset.
Thursday, Dec 52013, 5:19 PM
Thursday, Dec 52013, 5:19 PM| Comment!
- Callon Petroleum (CPE) is the latest Permian producer to warn about the impact of recent severe weather on its operations, lowering its FY 2013 production guidance for Permian operations to 2,150-2,250 boe/day, ~4% below previous guidance.
- Laredo Petroleum (LPI) warned yesterday that more than half of its wells can't pump oil and gas, while the remainder are producing less than normal, and Energen (EGN) said Tuesday that power outages and other weather effects will hurt its Q4 bottom line.
- Apache (APA) and Pioneer Natural (PXD) said their Permian operations were been affected but haven't yet provided details.
- The cold weather power outages aren't likely to affect the long-term outlook for the companies, according to Iberia analyst Eli Kantor, but more freezing weather is expected to settle on the area through the weekend.
Wednesday, Dec 42013, 12:56 PM
Wednesday, Dec 42013, 12:56 PM| Comment!
- 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.
Saturday, Nov 302013, 8:53 AM
Saturday, Nov 302013, 8:53 AM| 5 Comments
- Pioneer Natural Resources (PXD) Wednesday announced that severe winter weather in Texas has significantly impacted the company's production and drilling operations in the Spraberry/Wolfcamp, Eagle Ford Shale and Barnett Shale Combo plays.
- Commenting, analyst Gordon Douthat of Wells Fargo said, "PXD did not revise production guidance at this point as the company is still assessing impacts across its operations, but will provide an update once impact can be quantified. Production downtime will vary by company with some stating only 12 days of downtime and others stating more substantial downtime."
- Douthat said impacts will likely be felt by all Permian operators including Concho Resources (CXO), Laredo Petroleum Holdings (LPI), Athlon Energy (ATHL), Diamondback Energy (FANG), Approach Resources (AREX) though more time is needed to fully quantify the extent.
Friday, Nov 292013, 11:59 AM
Friday, Nov 292013, 11:59 AM| 1 Comment
- Pioneer Natural Resources (PXD +0.1%) warned late Wednesday that severe winter weather in Texas has significantly impacted production and drilling operations in the Spraberry/Wolfcamp, Eagle Ford shale and Barnett shale plays in the state, and analysts expect PXD to revise down its production guidance in the coming weeks.
- PXD has said it expects production to average 179K-187K boe/day in Q4.
- Topeka Capital keeps its Hold rating but cuts its price target on the stock to $210 from $225, while Global Hunter calls the news "more of a short-term nuisance than a long-term threat."
- PXD shares have gained 66% YTD, the most among energy stocks in the S&P 500, as Permian plays have been hot.
- Other Permian names are mixed today: CXO -0.2%, FANG -0.6%, LPI -1.7%, ATHL +1.4%, AREX +0.5%.
Monday, Aug 122013, 7:55 AM
Monday, Aug 122013, 7:55 AM| Comment!
- Laredo Petroleum (LPI) announces a public offering of 16M shares, including 3M shares by selling shareholder Warburg Pincus.
- LPI says proceeds will be used toward planned exploration and development activities, acceleration of its capital program and general corporate purposes; LPI will receive no proceeds from the sale.
- Shares -1.7% premarket.
Thursday, Aug 82013, 7:01 AM|Thursday, Aug 82013, 7:01 AM| Comment!
Thursday, Aug 12013, 10:49 AM
Thursday, Aug 12013, 10:49 AM| Comment!
- Pioneer Natural Resources (PXD +14.8%) powers higher following Q2 results that included significant progress in its horizontal well drilling program in the heart of the Midland Basin.
- FBR awards a Street-high $250 target price to the shares, seeing risk/reward significantly skewed toward a favorable outcome in the Spraberry/Wolfcamp drilling program.
- BAML analysts note PXD's first Wolfcamp interval well tested out as one of the best wells in the play, and sees upside to its $200 target.
- Other names with a strong Wolfcamp presence: LPI +10.6%, EGN +10.7%.
Wednesday, Jul 102013, 12:27 PMLaredo Petroleum (LPI +1.2%) is initiated with a Buy rating and $28 price target at Canaccord Genuity following LPI's recent sale of its Anadarko basin properties. The firm says LPI has methodically delineated its prime Midland basin acreage to ensure the best route to maximize asset recovery, a process that's nearing an end with an imminent ramp-up in production. |Wednesday, Jul 102013, 12:27 PM| Comment!
Thursday, Jun 272013, 11:42 AMLaredo Petroleum (LPI +3.8%) is initiated at Brean Capital with a Buy rating and $27 price target, which sees improving results from the horizontal Wolfcamp Shale play in the Midland Basin as the biggest driver for share-price appreciation in 2013-14. The firm also sees further delineation and de-risking of LPI's Midland Basin acreage as a catalyst. |Thursday, Jun 272013, 11:42 AM| Comment!
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