Sat, Mar. 7, 8:25 AM
- With U.S. oil steadying at ~$50/bbl in recent weeks, investors are beginning to believe crude prices have found a bottom, and public money is starting to flow back to North American oil producers.
- Investors have pumped $7.75B YTD into 16 separate stock market equity fund-raises - the biggest surge in at least seven years, and more equity than oil producers issued in all of 2009.
- "There was a two to three month window when capital markets were closed because everyone was nervous," but now things are turning around, says Tudor Pickering's Michael Rowe.
- In just the past two weeks, PAA, ECA, NBL, OAS, NFX, GDP, CXO, LPI, AR and TEP have stepped up with equity fund-raises.
- ETFs: XLE, ERX, VDE, OIH, XOP, ERY, DIG, DUG, IYE, XES, IEO, IEZ, PXE, FENY, PXJ, RYE, FXN, DDG
Mon, Mar. 2, 9:15 AM
Mon, Mar. 2, 8:18 AM
- Laredo Petroleum (NYSE:LPI) -7.3% premarket after announcing a public offering of 50M common shares, with an underwriters option to purchase up to an additional 7.5M shares.
- LPI says it will use the proceeds to repay all outstanding indebtedness under its senior secured credit facility and to apply the excess to capital expenditures or to redeem certain senior notes.
Thu, Feb. 26, 7:46 AM
Wed, Feb. 25, 5:30 PM
- ACIW, ACTA, AES, AKRX, AMCX, AMWD, ANSS, ARCC, BDBD, BIN, BUD, CCG, CHS, CNP, CNSL, CRI, CWEI, CYBX, DDD, EME, EXH, EXLP, FCH, FIG, FRO, GCAP, GOGO, HAWK, HEES, HSC, HSNI, ICON, IQNT, IRDM, ITC, KOP, KSS, LKQ, LPI, LTM, MBLY, MDXG, MGLN, MITL, MRGE, [[NTi]], NTLS, NXST, NXTM, OGE, ONE, RHP, SDRL, SEAS, SFY, SHLD, SNAK, SNH, SNMX, SRE, SRPT, TASR, TD, TICC, TWI, VAC, VC, VICL, WAC, WNR, XCRA, ZEUS
Fri, Feb. 6, 5:37 PM
Wed, Jan. 21, 12:45 PM
Mon, Jan. 5, 12:48 PM
Dec. 31, 2014, 5:50 PM
Dec. 16, 2014, 9:10 AM
Dec. 16, 2014, 8:29 AM
- Laredo Petroleum (NYSE:LPI) -5.9% premarket after announcing a ~50% cut to its capital budget for 2015 to $525M, which the company says demonstrates its ability to operate efficiently in an uncertain commodity price environment and generate capital efficient production growth expected to exceed 12%.
- LPI reaffirms that it has been in discussions with interested parties regarding a potential transaction involving a portion of its northern Permian-Garden City properties, which are continuing.
Dec. 2, 2014, 3:13 PM
- Apache (APA -1%), Bill Barrett (BBG -5.6%) and Laredo Petroleum (LPI -4.9%) are downgraded to Neutral from Buy at Mizuho, as the firm lowers its crude oil price deck and views OPEC's decision not to cut production as a structural shift in crude oil markets.
- Although the current excess supply/weak demand situation will be resolved gradually, market fundamentals will increasingly drive crude prices in a ~$70/bbl world, the firm says; in the E&P space, it prefers APC, MRO, FANG, RSPP and RICE.
Dec. 1, 2014, 6:42 PM
- Lower oil prices will continue for at least several more quarters, meaning that shares of many U.S. oil producers also will remain under pressure, CLSA research analyst Eric Otto tells CNBC, while noting there are haves and have-nots within the group.
- Among Bakken shale plays, Otto is still a buyer of Cimarex Energy (NYSE:XEC) because it is barely outspending its internally generated cash flow of a very strong balance sheet, and half of its production comes from gas; he also likes gas producers Cabot Oil & Gas (NYSE:COG) and EQT.
- He remains negative on Continental Resources (NYSE:CLR) after the company's "wrong-headed move" to monetize its hedges in order to participate in what it saw as a near-term oil price recovery, as well as Laredo Petroleum (NYSE:LPI) as it continues to far outspend internally generated cash flow.
Dec. 1, 2014, 2:59 PM
- Laredo Petroleum (LPI -5.9%) raises its Q4 production guidance to 3.4M-3.6M boe from prior guidance of 3.2M-3.5M boe, and expects to complete 15 horizontal wells that will achieve a full month of peak production in Q4 vs. previously announced guidance of 12.
- LPI also says it has hedges in place for Q4 for ~1.55M barrels of oil at a weighted-average floor price of $89.45/bbl, which is ~75% of anticipated Q4 oil production.
- Defers its investor day to early 2015 due to ongoing discussions in structuring a potential transaction on its northern acreage in the Midland Basin.
- Northland Capital maintains its Outperform rating on LPI after the upside production estimates, as the firm views potential asset monetization as a positive and catalytic event (Briefing.com).
Nov. 28, 2014, 12:45 PM
Nov. 6, 2014, 8:47 AM
LPI vs. ETF Alternatives
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.
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