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ACCESSWIRE
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Active-Investors: Free Research Report as Laredo Petroleum's Quarterly Revenue Surged 30%; Adjusted EPS Advanced 19%

Stock Monitor: Genie Energy Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 26, 2018 / Active-Investors.com has just released a free earnings report on Laredo Petroleum, Inc. (NYSE: LPI) ("Laredo"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=LPI. Laredo reported its fourth quarter and fiscal 2017 operating and financial results on February 14, 2018. The oil and natural gas Company achieved record quarterly and annual oil production. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Genie Energy Ltd (NYSE: GNE), which also belongs to the Basic Materials sector as the Company Laredo Petroleum. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/'symbol=GNE

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Laredo Petroleum most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=LPI

Earnings Highlights and Summary

For the three months ended December 31, 2017, Laredo recorded revenues of $240.3 million, reflecting growth of 30% compared to revenue of $184.3 million in Q4 2016. The Company's reported numbers topped analysts' estimates of $201.6 million.

For full year (FY) 2017, Laredo's revenue surged 38% to $822.1 million compared to $597.4 million in FY16.

For Q4 2017, Laredo reported net income attributable to common stockholders of $408.6 million, or $1.70 per diluted share, which includes a $405.9 million gain on the sale of Laredo's investment in the Medallion-Midland Basin pipeline system. The Company had reported net loss attributable to common stakeholders of $18.4 million, or $0.08 per share, in Q4 2016.

Laredo's a non-GAAP net income were $0.19 per diluted share for Q4 2017, up 19% versus $0.16 per diluted share in Q4 2016. The Company's earnings beat Wall Street's estimates of $0.17 per share.

Laredo's adjusted EBITDA was $133.8 million for Q4 2017 compared to $134.9 million in Q4 2016.

For FY17, Laredo reported net income attributable to common stockholders of $549.0 million, or $2.29 per diluted share, compared to net loss of $260.7 million, or $1.16 per diluted share, in FY16. The Company's adjusted earnings was $0.60 per diluted share for FY17, representing an increase of 22% from $0.49 per diluted share in FY16.

Operating Results

In Q4 2017, Laredo completed 18 horizontal wells averaging approximately 9,500 completed lateral feet. The Company's reported quarter was a record 61,922 BOE per day, an increase of approximately 17% on a y-o-y basis. During FY17, Laredo produced a Company record 58,273 barrels of oil equivalent ("BOE") per day, resulting in production growth of approximately 17% on a y-o-y basis.

During Q4 2017, Laredo completed the six-well Kloesel package, drilled in the western Glasscock portion of the Company's leasehold. The package tested five discrete landing points in a dense-spacing configuration. Laredo stated that the initial data is affirming pre-drill modeling and the early oil cut is positive.

For Q4 2017, Laredo's lease operating expenses (LOE) decreased to $3.22 per BOE, down approximately 9% on a q-o-q basis. The Company continues to receive significant benefits from prior investments in field infrastructure, which reduced unit LOE by an estimated $0.54 per BOE.

Laredo is currently operating three horizontal rigs and expects to complete 16 net horizontal wells with an average completed lateral length of approximately 9,100 feet in Q1 2018. The Company expects well costs in Q1 2018 to begin to trend lower as longer stage lengths, in-basin sand and other completion design changes are implemented.

Capital Program

During Q4 2017, Laredo invested approximately $160 million in exploration and development activities. Other expenditures incurred during the reported quarter included approximately $4 million in bolt-on land acquisitions and lease extensions, approximately $10 million in infrastructure held by LMS and approximately $8 million in capitalized employee-related costs.

Liquidity

At December 31, 2017, Laredo had cash and cash equivalents of approximately $112 million and undrawn capacity under the senior secured credit facility of $1 billion. At February 13, 2018, the Company had cash and cash equivalents of approximately $46 million and undrawn capacity under the senior secured credit facility of $1 billion, resulting in total liquidity of approximately $1.05 billion.

Stock Performance Snapshot

March 16, 2018 - At Friday's closing bell, Laredo Petroleum's stock rose 2.09%, ending the trading session at $8.80.

Volume traded for the day: 3.53 million shares, which was above the 3-month average volume of 3.25 million shares.

Stock performance in the last month - up 4.02%

After last Friday's close, Laredo Petroleum's market cap was at $2.09 billion.

Price to Earnings (P/E) ratio was at 3.86.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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SOURCE: Active-Investors

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