LPI

[Fraser921]

Laredo Petroleum, Inc. ( LPI ) ("Laredo" or the "Company") will report fourth-quarter 2021 financial and operating results after the market close on Tuesday, February 22, 2022, and will host a conference call on Wednesday, February 23, 2022, at 7:30 a.m. CT to discuss the results.

[Fraser921]

Commodity Derivatives Update

The following table presents net settlements for matured commodity derivatives for the period presented:


(in millions) Three months ended December 31, 2021
Oil $ (61.9)
NGL (36.6)
Natural gas (30.8)
Net settlements (paid) for matured commodity derivatives $ (129.3)
>Paid on crap hedges
The Company records all derivatives on its consolidated balance sheet as assets and/or liabilities measured at their estimated fair value. The Company has not designated any derivatives as hedges for accounting purposes and does not enter into such instruments for speculative trading purposes. Settlements paid for matured commodity derivatives are included in the line item "Gain (loss) on derivatives, net" reported under "Non-operating income (expense)" on the Company's consolidated statements of operations.

Weighted-Average Common Shares Outstanding

The following table presents the Company's basic and diluted weighted-average common shares for the period presented:


(in millions) Three months ended December 31, 2021
Basic 16.5
Diluted 16.8

Average Sales Prices

The following table presents average sales prices(1) for the period presented:


Three months ended December 31, 2021
Oil ($/Bbl) $ 76.92
NGL ($/Bbl) $ 29.96
Natural gas ($/Mcf) $ 4.21

[dan_s]

Just remember that Laredo survived 2020 because they received $234.6 million of cash on hedge settlements in 2020.
> Operating cash flow in 2020A = $363.3 million ($30.23/share)
> Operating cash flow in 2021E = $443.31 million ($27.50/share)