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Dec 31, 2019
Vital Energy Q4 2019 Earnings Report
Laredo Petroleum reported a net loss for Q4 2019, but adjusted net income and EBITDA showed positive results. The company exceeded oil and total production expectations and completed 15 horizontal wells.
Key Takeaways
Laredo Petroleum reported a net loss of $241.7 million for Q4 2019, which included a non-cash impairment charge of $222.7 million. However, adjusted net income was $39.7 million, and adjusted EBITDA was $137.9 million. The company exceeded oil and total production expectations and completed 15 horizontal wells.
Reported a net loss attributable to common stockholders of $241.7 million, or $1.04 per diluted share, including a non-cash full cost ceiling impairment charge of $222.7 million.
Adjusted Net Income for the fourth quarter of 2019 was $39.7 million, or $0.17 per adjusted diluted share.
Adjusted EBITDA for the fourth quarter of 2019 was $137.9 million.
Exceeded both oil and total production expectations for the fourth consecutive quarter.
Vital Energy
Vital Energy
Vital Energy Revenue by Segment
Revenue by Segment
Oil Sales Revenue
CapyFin.com Forward Guidance
In the first quarter of 2020, Laredo expects to complete 28 gross (27.7 net) widely-spaced horizontal wells with an average completed lateral length of 8,500 feet. All anticipated first-quarter 2020 completions are on the Company's established acreage in Reagan and Glasscock counties.