$VTLE
Vital Energy, Inc.

2014 Q2 Form 10-Q Financial Statement

#000152812914000139 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $183.0M $177.3M
YoY Change 3.24% 26.9%
Cost Of Revenue $35.50M $32.70M
YoY Change 8.56% 40.34%
Gross Profit $147.6M $144.6M
YoY Change 2.07% 24.12%
Gross Profit Margin 80.64% 81.56%
Selling, General & Admin $29.60M $20.50M
YoY Change 44.39% 42.36%
% of Gross Profit 20.05% 14.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.06M $66.23M
YoY Change -19.9% 10.27%
% of Gross Profit 35.95% 45.8%
Operating Expenses $83.00M $87.20M
YoY Change -4.82% 16.73%
Operating Profit $64.56M $57.41M
YoY Change 12.45% 37.72%
Interest Expense $30.66M $25.94M
YoY Change 18.17% 19.7%
% of Operating Profit 47.49% 45.19%
Other Income/Expense, Net -$93.83M -$2.073M
YoY Change 4426.48% -130.15%
Pretax Income -$29.27M $55.34M
YoY Change -152.9% 13.95%
Income Tax -$10.37M $20.05M
% Of Pretax Income 36.22%
Net Earnings -$18.90M $35.80M
YoY Change -152.79% 15.48%
Net Earnings / Revenue -10.32% 20.19%
Basic Earnings Per Share -$0.13 $0.28
Diluted Earnings Per Share -$0.13 $0.27
COMMON SHARES
Basic Shares Outstanding 141.3M shares 127.4M shares
Diluted Shares Outstanding 141.3M shares 129.4M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $399.5M $43.60M
YoY Change 816.28% -70.24%
Cash & Equivalents $399.5M $43.59M
Short-Term Investments
Other Short-Term Assets $20.45M $4.886M
YoY Change 318.48% -81.42%
Inventory
Prepaid Expenses
Receivables $95.72M $89.85M
Other Receivables $3.970M $1.228M
Total Short-Term Assets $530.6M $199.9M
YoY Change 165.48% -18.28%
LONG-TERM ASSETS
Property, Plant & Equipment $2.578B $2.343B
YoY Change 10.05% 33.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $40.90M $3.174M
YoY Change 1188.59%
Other Assets $242.0K $4.183M
YoY Change -94.21% -96.36%
Total Long-Term Assets $2.650B $2.418B
YoY Change 9.62% 29.2%
TOTAL ASSETS
Total Short-Term Assets $530.6M $199.9M
Total Long-Term Assets $2.650B $2.418B
Total Assets $3.181B $2.618B
YoY Change 21.52% 23.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.39M $31.38M
YoY Change -41.4% -36.35%
Accrued Expenses $194.9M $127.7M
YoY Change 52.62% -2.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $334.7M $264.9M
YoY Change 26.33% 18.27%
LONG-TERM LIABILITIES
Long-Term Debt $1.501B $1.447B
YoY Change 3.79% 37.53%
Other Long-Term Liabilities $5.370M $5.064M
YoY Change 6.04% -71.87%
Total Long-Term Liabilities $1.507B $1.452B
YoY Change 3.79% 35.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $334.7M $264.9M
Total Long-Term Liabilities $1.507B $1.452B
Total Liabilities $1.917B $1.742B
YoY Change 10.04% 34.62%
SHAREHOLDERS EQUITY
Retained Earnings -$32.09M -$93.76M
YoY Change -65.77%
Common Stock $1.296B $1.294M
YoY Change 100085.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.000K
YoY Change
Treasury Stock Shares 7.609K shares
Shareholders Equity $1.264B $875.7M
YoY Change
Total Liabilities & Shareholders Equity $3.181B $2.618B
YoY Change 21.52% 23.71%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$18.90M $35.80M
YoY Change -152.79% 15.48%
Depreciation, Depletion And Amortization $53.06M $66.23M
YoY Change -19.9% 10.27%
Cash From Operating Activities $112.0M $115.2M
YoY Change -2.78% 6.27%
INVESTING ACTIVITIES
Capital Expenditures -$252.2M -$194.6M
YoY Change 29.6% -16.73%
Acquisitions
YoY Change
Other Investing Activities -$7.900M -$2.400M
YoY Change 229.17%
Cash From Investing Activities -$259.9M -$196.9M
YoY Change 32.0% -15.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 94.30M
YoY Change -100.0% -63.66%
NET CHANGE
Cash From Operating Activities 112.0M 115.2M
Cash From Investing Activities -259.9M -196.9M
Cash From Financing Activities 0.000 94.30M
Net Change In Cash -147.9M 12.60M
YoY Change -1273.81% -90.62%
FREE CASH FLOW
Cash From Operating Activities $112.0M $115.2M
Capital Expenditures -$252.2M -$194.6M
Free Cash Flow $364.2M $309.8M
YoY Change 17.56% -9.44%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company routinely assesses the recoverability of all material trade and other receivables to determine collectability.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses derivatives to hedge its exposure to oil and natural gas price volatility and, in the past, its exposure to interest rate risk associated with the Senior Secured Credit Facility. These transactions expose the Company to potential credit risk from its counterparties. In accordance with the Company&#8217;s standard practice, its derivatives are subject to counterparty netting under agreements governing such derivatives; therefore, the credit risk associated with its derivative counterparties is somewhat mitigated.</font></div></div>
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
CY2013Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
CY2014Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1249000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.29
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.14
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2013Q4 us-gaap Equity Method Investments
EquityMethodInvestments
5913000 USD
CY2014Q2 us-gaap Equity Method Investments
EquityMethodInvestments
40871000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-94237000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
7106000 USD
CY2013Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-9000 USD
CY2014Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
0 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-15000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
0 USD
CY2014Q2 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-63125000 USD
CY2013Q2 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
23975000 USD
us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
7121000 USD
us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-94237000 USD
CY2013Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-59000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-59000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-226000 USD
CY2014Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-205000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
57206000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
40129000 USD
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
20495000 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
29552000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
36431000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-19112000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
35294000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.13
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
55341000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-29273000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
57588000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.28
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.13
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.27
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.28
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
518000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
790000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-113000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-25000 USD
CY2013Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-49000 USD
CY2014Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-41000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21157000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20047000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10267000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10374000 USD
us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
-10267000 USD
us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
21601000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
20338000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
-10374000 USD
CY2013Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
20000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
29000 USD
CY2014Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
34000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1484000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1112000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-10283000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
19580000 USD
CY2014Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-10246000 USD
CY2013Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
18816000 USD
CY2013Q2 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
164000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
239000 USD
CY2014Q2 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
123000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
339000 USD
CY2014Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
47000 USD
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
226000 USD
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
143000 USD
CY2013Q2 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
376000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1634000 USD
CY2014Q2 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-347000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
572000 USD
CY2013Q2 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
551000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2385000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-16568000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6591000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
18402000 USD
CY2014Q2 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
10172000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
11180000 USD
CY2013Q2 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
3924000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
320000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
3058000 USD
CY2013Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2022000 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1838000 shares
CY2013Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
12000 USD
CY2014Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
194000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
277000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
27000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0 USD
CY2014Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0 USD
CY2013Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
117000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
212000 USD
CY2013Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
26060000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
59643000 USD
CY2014Q2 us-gaap Interest Costs Incurred
InterestCostsIncurred
30657000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
51504000 USD
CY2013Q2 us-gaap Interest Expense
InterestExpense
25943000 USD
us-gaap Interest Expense
InterestExpense
51292000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
30657000 USD
us-gaap Interest Expense
InterestExpense
59643000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
48560000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
46140000 USD
CY2014Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
19291000 USD
CY2013Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
20816000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-59366000 USD
CY2014Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-30463000 USD
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-25931000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-51265000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
212000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
0 USD
us-gaap Interest Paid Net
InterestPaidNet
46140000 USD
us-gaap Interest Paid Net
InterestPaidNet
48348000 USD
CY2013Q4 us-gaap Interest Payable Current
InterestPayableCurrent
25885000 USD
CY2014Q2 us-gaap Interest Payable Current
InterestPayableCurrent
37065000 USD
CY2014Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
40871000 USD
CY2013Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5913000 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
41964000 USD
CY2013Q2 us-gaap Lease Operating Expense
LeaseOperatingExpense
22185000 USD
CY2014Q2 us-gaap Lease Operating Expense
LeaseOperatingExpense
20179000 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
44627000 USD
CY2014Q2 us-gaap Liabilities
Liabilities
1916729000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
1351504000 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3181038000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2623760000 USD
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
334668000 USD
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
253969000 USD
CY2014Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000.0 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1051538000 USD
CY2014Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1501419000 USD
us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Laredo Petroleum,&#160;Inc. ("Laredo" and formerly known as Laredo Petroleum Holdings, Inc.), together with its subsidiary, Laredo Midstream Services, LLC ("Laredo Midstream"), is an independent energy company focused on the exploration, development and acquisition of oil and natural gas properties primarily in the Permian Basin in West Texas. In these notes, the "Company," (i) when used in the present tense, prospectively or as of December 31, 2013, refers to Laredo and Laredo Midstream collectively; (ii) when used for historical periods prior to December 31, 2013, refers to Laredo and its subsidiaries, collectively. All amounts, dollars and percentages presented in these unaudited consolidated financial statements and the related notes are rounded and therefore approximate.</font></div></div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
228367000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
440482000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-396293000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-479228000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
240099000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
178290000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18899000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19112000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
37221000 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
35812000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-153978000 USD
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2073000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-93834000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-44331000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2013Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
16629000 USD
CY2014Q2 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
23274000 USD
CY2014Q2 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
2475094000 USD
CY2013Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
2135348000 USD
us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
340673000 USD
CY2013Q2 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
177048000 USD
CY2014Q2 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
182872000 USD
us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
356086000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
57414000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
64561000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
124599000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
101919000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
17340000 USD
CY2014Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13374000 USD
CY2014Q2 us-gaap Other Assets Current
OtherAssetsCurrent
20447000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
12698000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
255000 USD
CY2014Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
242000 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
72231000 USD
CY2014Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
78007000 USD
CY2014Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5370000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5546000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-94612000 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-63371000 USD
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
23858000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6934000 USD
CY2014Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3970000 USD
CY2013Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3042000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3556000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
919000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
714000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
7791000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
6493000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
19471000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3287000 USD
us-gaap Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
0 USD
us-gaap Payments To Acquire Mineral Rights
PaymentsToAcquireMineralRights
7305000 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
412211000 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
375901000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
8436000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
8803000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in the accompanying unaudited consolidated financial statements have been reclassified to conform to the 2014 presentation. These reclassifications had no impact to previously reported net income (loss), total stockholders' equity or cash flows.</font></div></div>
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
450000000 USD
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
597000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
230000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-12980000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-32092000 USD
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1829000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Production Tax Expense
ProductionTaxExpense
21167000 USD
us-gaap Production Tax Expense
ProductionTaxExpense
25610000 USD
CY2013Q2 us-gaap Production Tax Expense
ProductionTaxExpense
9722000 USD
CY2014Q2 us-gaap Production Tax Expense
ProductionTaxExpense
13160000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3569199000 USD
CY2014Q2 us-gaap Property Plant And Equipment Gross
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us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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StockIssuedDuringPeriodValueStockOptionsExercised
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P90D
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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates in the preparation of interim unaudited consolidated financial statements</font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the accompanying unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates are reasonable, actual results could differ from these estimates. The interim results reflected in the unaudited consolidated financial statements are not necessarily indicative of the results that may be expected for other interim periods or for the full year. </font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant estimates include, but are not limited to, (i) estimates of the Company&#8217;s reserves of oil and natural gas, (ii) future cash flows from oil and natural gas properties, (iii) depletion, depreciation and amortization, (iv) asset retirement obligations, (v) stock-based compensation, (vi) deferred income taxes, (vii) fair value of assets acquired and liabilities assumed in an acquisition and (viii) fair values of commodity derivatives, interest rate derivatives, commodity deferred premiums, performance share awards and performance unit awards. As fair value is a market-based measurement, it is determined based on the assumptions that market participants would use. These estimates and assumptions are based on management&#8217;s best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Such estimates and assumptions are adjusted when facts and circumstances dictate. Illiquid credit markets and volatile equity and energy markets have combined to increase the uncertainty inherent in such estimates and assumptions. Management believes its estimates and assumptions to be reasonable under the circumstances. As future events and their effects cannot be determined with precision, actual values and results could differ from these estimates. Any changes in estimates resulting from future changes in the economic environment will be reflected in the financial statements in future periods.</font></div></div>
lpi Amortizationof Financing Costs Continuingand Discontinued Operations
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lpi Amortizationof Financing Costs Continuingand Discontinued Operations
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AssetRetirementObligationSettledUponPluggingAndAbandonment
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310000 USD
lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
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lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
1262000 USD
CY2014Q2 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
2250038000 USD
CY2013Q4 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
1927263000 USD
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129384000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129119000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
CY2013Q2 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
124000 USD
CY2014Q2 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
CY2013Q4 lpi Accounts Receivable Oil And Gas Sales Net Current
AccountsReceivableOilAndGasSalesNetCurrent
57647000 USD
CY2014Q2 lpi Accounts Receivable Oil And Gas Sales Net Current
AccountsReceivableOilAndGasSalesNetCurrent
68476000 USD
CY2014Q2 lpi Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
129674000 USD
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AccruedCapitalExpendituresCurrent
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AccumulatedDepletionAndImpairmentPropertyPlantAndEquipment
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lpi Cash Settlements Of Matured Derivative Financial Instruments Net
CashSettlementsOfMaturedDerivativeFinancialInstrumentsNet
-5851000 USD
lpi Cash Settlements Of Matured Derivative Financial Instruments Net
CashSettlementsOfMaturedDerivativeFinancialInstrumentsNet
4657000 USD
lpi Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments
ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments
282000 USD
lpi Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments
ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments
120000 USD
CY2013Q2 lpi Costs Incurred Acquisition Of Oil And Gas Properties Asset Retirement Obligations
CostsIncurredAcquisitionOfOilAndGasPropertiesAssetRetirementObligations
700000 USD
lpi Costs Incurred Acquisition Of Oil And Gas Properties Asset Retirement Obligations
CostsIncurredAcquisitionOfOilAndGasPropertiesAssetRetirementObligations
1500000 USD
lpi Costs Incurred Acquisition Of Oil And Gas Properties Asset Retirement Obligations
CostsIncurredAcquisitionOfOilAndGasPropertiesAssetRetirementObligations
1300000 USD
CY2014Q2 lpi Costs Incurred Acquisition Of Oil And Gas Properties Asset Retirement Obligations
CostsIncurredAcquisitionOfOilAndGasPropertiesAssetRetirementObligations
900000 USD
CY2014Q2 lpi Deferred Finance Costs Amortization Expense After Year Five
DeferredFinanceCostsAmortizationExpenseAfterYearFive
7151000 USD
CY2014Q2 lpi Deferred Finance Costs Amortization Expense Remainder Of Fiscal Year
DeferredFinanceCostsAmortizationExpenseRemainderOfFiscalYear
2627000 USD
CY2014Q2 lpi Deferred Finance Costs Amortization Expense Year Five
DeferredFinanceCostsAmortizationExpenseYearFive
5222000 USD
CY2014Q2 lpi Deferred Finance Costs Amortization Expense Year Four
DeferredFinanceCostsAmortizationExpenseYearFour
5432000 USD
CY2014Q2 lpi Deferred Finance Costs Amortization Expense Year Three
DeferredFinanceCostsAmortizationExpenseYearThree
5361000 USD
CY2014Q2 lpi Deferred Finance Costs Amortization Expense Year Two
DeferredFinanceCostsAmortizationExpenseYearTwo
5295000 USD
CY2014Q2 lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
100000 USD
lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
400000 USD
CY2013Q2 lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
100000 USD
lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
200000 USD
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DeferredTaxAssetsTaxDeferredExpenseCapitalizedInterest
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DeferredTaxAssetsTaxDeferredExpenseCapitalizedInterest
2099000 USD
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DeferredTaxLiabilitiesNetBeforeValuationAllowance
12527000 USD
CY2014Q2 lpi Deferred Tax Liabilities Net Before Valuation Allowance
DeferredTaxLiabilitiesNetBeforeValuationAllowance
1120000 USD
CY2013Q2 lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
20.08
CY2014Q2 lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
19.55
lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
20.16
lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
19.58
lpi Depreciation Depletion And Amortization Continuing And Discontinued Operations
DepreciationDepletionAndAmortizationContinuingAndDiscontinuedOperations
102663000 USD
lpi Depreciation Depletion And Amortization Continuing And Discontinued Operations
DepreciationDepletionAndAmortizationContinuingAndDiscontinuedOperations
131364000 USD
CY2014Q2 lpi Derivative Financial Instrument Deferred Premium Future Payments Due
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDue
9164000 USD
CY2014Q2 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Duein Three Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueinThreeYears
358000 USD
CY2014Q2 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Duein Two Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueinTwoYears
5166000 USD
CY2014Q2 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Next Twelve Months
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueNextTwelveMonths
3640000 USD
CY2013Q2 lpi Disposal Group Including Discontinued Operation Depreciation Depletion And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationDepletionAndAmortization
0 USD
lpi Disposal Group Including Discontinued Operation Depreciation Depletion And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationDepletionAndAmortization
627000 USD
CY2013Q2 lpi Disposal Groups Discontinued Operations Costs And Expenses Amount
DisposalGroupsDiscontinuedOperationsCostsAndExpensesAmount
669000 USD
lpi Disposal Groups Discontinued Operations Costs And Expenses Amount
DisposalGroupsDiscontinuedOperationsCostsAndExpensesAmount
2076000 USD
CY2013Q2 lpi Disposal Groups Midstream Service Costs
DisposalGroupsMidstreamServiceCosts
669000 USD
lpi Disposal Groups Midstream Service Costs
DisposalGroupsMidstreamServiceCosts
1449000 USD
CY2013Q2 lpi Disposal Groups Midstream Service Revenue
DisposalGroupsMidstreamServiceRevenue
1478000 USD
lpi Disposal Groups Midstream Service Revenue
DisposalGroupsMidstreamServiceRevenue
3310000 USD
lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
411000 USD
CY2013Q2 lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
120000 USD
CY2014Q2 lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
15000 USD
lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
156000 USD
lpi Increase Decrease In Fair Value Of Performance Unit Awards
IncreaseDecreaseInFairValueOfPerformanceUnitAwards
1151000 USD
lpi Increase Decrease In Fair Value Of Performance Unit Awards
IncreaseDecreaseInFairValueOfPerformanceUnitAwards
2155000 USD
lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
4327000 USD
lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
8998000 USD
lpi Increase Decreasein Investmentswith Affiliates
IncreaseDecreaseinInvestmentswithAffiliates
0 USD
lpi Premiums Paid For Derivative Financial Instruments
PremiumsPaidForDerivativeFinancialInstruments
5249000 USD
lpi Premiums Paid For Derivative Financial Instruments
PremiumsPaidForDerivativeFinancialInstruments
3779000 USD
lpi Increase Decreasein Investmentswith Affiliates
IncreaseDecreaseinInvestmentswithAffiliates
0 USD
CY2013Q4 lpi Lease Operating Expense Accrual
LeaseOperatingExpenseAccrual
10637000 USD
CY2014Q2 lpi Lease Operating Expense Accrual
LeaseOperatingExpenseAccrual
11056000 USD
CY2013Q4 lpi Midstream Service Assets
MidstreamServiceAssets
51704000 USD
CY2014Q2 lpi Midstream Service Assets
MidstreamServiceAssets
80265000 USD
CY2014Q2 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
74258000 USD
CY2013Q4 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
47300000 USD
CY2013Q2 lpi Midstream Service Costs
MidstreamServiceCosts
697000 USD
CY2014Q2 lpi Midstream Service Costs
MidstreamServiceCosts
1526000 USD
lpi Midstream Service Costs
MidstreamServiceCosts
2371000 USD
lpi Midstream Service Costs
MidstreamServiceCosts
1479000 USD
CY2013Q2 lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
139000 USD
lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
1104000 USD
CY2014Q2 lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
588000 USD
lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
139000 USD
lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
268000 USD
CY2013Q2 lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
248000 USD
lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
328000 USD
CY2014Q2 lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
172000 USD
CY2014Q2 lpi Other Assets Current Not Separately Disclosed
OtherAssetsCurrentNotSeparatelyDisclosed
434901000 USD
CY2013Q4 lpi Other Assets Current Not Separately Disclosed
OtherAssetsCurrentNotSeparatelyDisclosed
230291000 USD
CY2014Q2 lpi Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
31330000 USD
CY2013Q4 lpi Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
105914000 USD
CY2014Q2 lpi Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
80642000 USD
CY2013Q4 lpi Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
45997000 USD
CY2014Q2 lpi Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
316281000 USD
CY2013Q4 lpi Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
237967000 USD
lpi Paymentsto Acquire Midstream Service Assets
PaymentstoAcquireMidstreamServiceAssets
25909000 USD
lpi Paymentsto Acquire Midstream Service Assets
PaymentstoAcquireMidstreamServiceAssets
8302000 USD
CY2013Q4 lpi Prepaid Drilling Liability
PrepaidDrillingLiability
1393000 USD
CY2014Q2 lpi Prepaid Drilling Liability
PrepaidDrillingLiability
851000 USD
lpi Proceeds From Cash Settlements Early Terminationsof Derivative Financial Instruments Net
ProceedsFromCashSettlementsEarlyTerminationsofDerivativeFinancialInstrumentsNet
76660000 USD
lpi Proceeds From Cash Settlements Early Terminationsof Derivative Financial Instruments Net
ProceedsFromCashSettlementsEarlyTerminationsofDerivativeFinancialInstrumentsNet
0 USD
lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
12892000 USD
lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
7680000 USD
CY2013Q2 lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
4463000 USD
CY2014Q2 lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
7645000 USD
lpi Threshold Period Past Duefor Accounts Receivable
ThresholdPeriodPastDueforAccountsReceivable
P30D
CY2013Q4 lpi Undistributed Revenue And Accrued Royalties Current
UndistributedRevenueAndAccruedRoyaltiesCurrent
35124000 USD
CY2014Q2 lpi Undistributed Revenue And Accrued Royalties Current
UndistributedRevenueAndAccruedRoyaltiesCurrent
44122000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001528129
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
143762444 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Laredo Petroleum, Inc.
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

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