Laredo Pumps the Brakes to Ensure Cash Flow Neutrality in 2019
Laredo delivered production of 71 mboe/d in the fourth quarter, which was consistent with guidance and 14% higher year over year. But the firm’s financial results fell short of expectations, with adjusted EBITDA and adjusted earnings per share coming in at $132 million and $0.16, respectively, above/below consensus estimates of $145 million and $0.22. The miss was primarily driven by very weak realized natural gas prices, which came in at just $0.63/mcf (16% of Nymex).In 2019, the firm has shar...
Laredo Petroleum is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties, and midstream and marketing services, primarily in the Permian Basin of West Texas. The Permian Basin is comprised of several distinct geological provinces, including the Midland Basin to the east, the Delaware Basin to the west and the Central Platform in the middle. The company's primary development and production fairway is located on the east side of the Midland Basin, 35 miles east of Midland, TX. The company's acreage is contiguous in the neighboring Texas counties of Howard, Glasscock, Reagan, Sterling and Irion.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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