Laredo Petroleum prepares to release 3Q earnings

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Investors in Laredo Petroleum will learn early next month how the company performed in the third quarter of this year.

The Tulsa-based firm’s financial and operating results will be released after the market closes on Thursday, Nov. 3, 2022. Company leadership will follow up with a conference call and webcast the next day, Friday, Nov. 4 at 7:30 a.m. CT to discuss the results.

Active in the Permian Basin of West Texas, Laredo had second quarter net income of $262.5 million and cash flows from operating activities of $368.1 million.

Its two-drilling rig operation, along with one completions crew had planned to complete 11 wells in the third quarter and another 13 Turned in Line wells.

As a result of the firm’s first and second quarter operations, its total liquidity rose from $646 million to $1.1 billion. It also managed to repurchase 184,173 shares for $16.1 million.

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