NYSE$VTLE
Vital Energy Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Laredo Petroleum's financial and operating results for Q1 2021 were announced, highlighting strategic transformation and consistent execution.
Laredo Petroleum reported a net loss of $75.4 million, but generated $71 million in cash flows from operating activities and $22 million in free cash flow. The company reduced net debt by $30 million and increased oil production by 11% compared to the previous quarter, despite weather-related disruptions.
- Generated $71 million of cash flows from operating activities and $22 million of Free Cash Flow.
- Sold 723,579 shares at an average price of $38.75 for net proceeds of $26.9 million through the Company's at-the-market equity program.
- Reduced Net Debt by $30 million during the quarter.
- Produced an average of 24,261 barrels of oil per day, an increase of 11% from fourth-quarter 2020.
Headline financials
Revenue & EPS history
Vital Energy · Revenue · Quarterly
$250M
Revenue by segment
Vital Energy · $202M total across 3 segments · Q1 2021
- Oil Sales$128M+6.4%63.1%
- NGL Sales$41.7M+261.2%20.6%
- Natural Gas Sales$33.1M+661.9%16.4%
Forward guidance
Laredo Petroleum expects oil production growth of 9% - 13% versus first-quarter 2021. Total production is expected to be 83.0 - 86.0 MBOE per day and oil production is expected to be 26.5 - 27.5 MBOPD.
Tailwinds
- Oil production in the second quarter of 2021 is expected to be positively impacted by production from the 12-well Trentino/Whitmire package in Howard County.
- Expected 9% - 13% oil production growth versus first-quarter 2021.
- Currently operating two drilling rigs and one completions crew in Howard County.
- Expected to complete the 13-well Davis package during the second quarter of 2021.
- Widened development spacing in the Wolfcamp formation to further enhance the capital efficiency of the Company's Howard County development program.
Headwinds
- Net income (expense) of purchased oil ($4.3 MM)
- Lease operating expenses ($/BOE) $2.85
- Production and ad valorem taxes (% of oil, NGL and natural gas sales revenues) 7.00%
- Transportation and marketing expenses ($/BOE) $1.55
- General and administrative expenses (excluding LTIP, $/BOE) $1.50
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports
-0.7%
Avg return
Earnings day
-1.7%
Avg return
5 days after
+0.8%
Avg return
30 days after
46%
26 / 56 earnings
Positive
+12.7%
Q3 2024
Best reaction
-23.2%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q3 2025 | +5.1% | +20.9% | +26.1% | |
| Q2 2025 | -9.4% | -8.8% | -0.4% | |
| Q1 2025 | +7.6% | -3.5% | +18.7% | |
| Q4 2024 | -12.1% | -20.2% | -36.6% | |
| Q3 2024 | +12.7% | +14.7% | +8.3% | |
| Q2 2024 | +2.8% | +2.3% | -22.8% | |
| Q1 2024 | -4.1% | -10.1% | -17.0% | |
| Q4 2023 | +5.0% | +3.9% | +9.5% | |
| Q3 2023 | +6.3% | -3.4% | -8.8% | |
| Q2 2023 | +5.2% | +5.4% | +11.6% | |
| Q1 2023 | -0.9% | -3.3% | +5.4% | |
| Q4 2022 | -3.2% | +6.5% | -16.9% | |
| Q3 2022 | +5.2% | +6.1% | -3.2% | |
| Q2 2022 | -23.2% | -26.0% | -15.2% | |
| Q1 2022 | -6.9% | -19.1% | +45.2% | |
| Q4 2021 | +7.1% | +7.5% | +8.6% | |
| Q3 2021 | -4.5% | — | — | |
| Q2 2021 | -12.7% | — | — | |
| Q1 2021 | -12.4% | — | — | |
| Q4 2020 | +5.3% | — | — | |
| Q3 2020 | +3.7% | — | — | |
| Q2 2020 | -1.2% | — | — | |
| Q1 2020 | -2.0% | — | — | |
| Q4 2019 | -0.6% | — | — | |
| Q3 2019 | -1.2% | — | — | |
| Q2 2019 | +3.9% | — | — | |
| Q1 2019 | +10.6% | — | — | |
| Q4 2018 | +6.1% | — | — | |
| Q3 2018 | +7.6% | — | — | |
| Q2 2018 | -6.8% | — | — | |
| Q1 2018 | -17.8% | — | — | |
| Q4 2017 | +10.0% | — | — | |
| Q3 2017 | -10.3% | — | — | |
| Q2 2017 | -1.1% | — | — | |
| Q1 2017 | -6.7% | — | — | |
| Q4 2016 | +1.0% | — | — | |
| Q3 2016 | +9.4% | — | — | |
| Q2 2016 | +11.8% | — | — | |
| Q1 2016 | +7.7% | — | — | |
| Q4 2015 | -6.1% | — | — | |
| Q3 2015 | -5.2% | — | — | |
| Q2 2015 | +2.8% | — | — | |
| Q1 2015 | -6.7% | — | — | |
| Q4 2014 | -8.5% | — | — | |
| Q3 2014 | +4.7% | — | — | |
| Q2 2014 | -6.8% | — | — | |
| Q1 2014 | -3.7% | — | — | |
| Q4 2013 | -4.9% | — | — | |
| Q3 2013 | -11.8% | — | — | |
| Q2 2013 | +6.7% | — | — | |
| Q1 2013 | -4.0% | — | — | |
| Q4 2012 | +7.0% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q1 2012 | +2.2% | — | — |
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