$VTLE
Vital Energy, Inc.

2014 Q4 Form 10-Q Financial Statement

#000152812914000176 Filed on November 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $237.3M $200.2M $153.4M
YoY Change 54.67% 17.21% 1.38%
Cost Of Revenue $98.10M $39.60M $25.70M
YoY Change 281.71% 21.1% -15.18%
Gross Profit $139.2M $160.6M $127.7M
YoY Change 9.01% 16.21% 5.54%
Gross Profit Margin 58.66% 80.2% 83.24%
Selling, General & Admin $22.30M $27.10M $25.20M
YoY Change -11.51% 11.07% 58.49%
% of Gross Profit 16.02% 16.87% 19.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $79.90M $63.94M $47.30M
YoY Change 68.92% 14.22% -29.93%
% of Gross Profit 57.4% 39.81% 37.04%
Operating Expenses $102.7M $91.50M $72.70M
YoY Change 41.27% 13.38% -12.52%
Operating Profit $32.62M $69.16M $55.01M
YoY Change -40.7% 20.45% 45.15%
Interest Expense $298.3M $30.55M $58.70M
YoY Change 408.18% 22.54% -379.52%
% of Operating Profit 914.39% 44.17% 106.7%
Other Income/Expense, Net $60.02M
YoY Change -268.81%
Pretax Income $330.1M $129.2M $111.6M
YoY Change 195.79% 490.83% 564.29%
Income Tax $128.8M $45.78M $43.30M
% Of Pretax Income 39.02% 35.44% 38.8%
Net Earnings $201.3M $83.41M $68.20M
YoY Change 195.13% 567.26% 477.97%
Net Earnings / Revenue 84.82% 41.65% 44.45%
Basic Earnings Per Share $1.42 $0.59 $0.48
Diluted Earnings Per Share $1.40 $0.58 $0.48
COMMON SHARES
Basic Shares Outstanding 143.7M shares 141.4M shares 142.6M shares
Diluted Shares Outstanding 143.8M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.30M $55.80M $198.2M
YoY Change -85.22% -78.97% 496.99%
Cash & Equivalents $29.32M $55.76M $198.2M
Short-Term Investments
Other Short-Term Assets $14.40M $18.16M $12.70M
YoY Change 13.42% 158.9% 321.02%
Inventory $7.951M $10.79M $9.633M
Prepaid Expenses $6.451M $7.372M $3.065M
Receivables $126.9M $103.8M $77.32M
Other Receivables $1.036M $4.154M $3.042M
Total Short-Term Assets $365.3M $190.5M $307.6M
YoY Change 18.74% -46.02% 123.82%
LONG-TERM ASSETS
Property, Plant & Equipment $3.354B $3.065B $2.204B
YoY Change 52.16% 49.04% 4.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.29M $40.80M $5.913M
YoY Change 885.76% 1166.69%
Other Assets $15.29M $1.683M $255.0K
YoY Change 5896.08% 544.83% -95.41%
Total Long-Term Assets $3.545B $3.142B $2.316B
YoY Change 53.07% 47.72% 5.24%
TOTAL ASSETS
Total Short-Term Assets $365.3M $190.5M $307.6M
Total Long-Term Assets $3.545B $3.142B $2.316B
Total Assets $3.911B $3.333B $2.624B
YoY Change 49.05% 34.38% 12.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.01M $55.46M $16.00M
YoY Change 143.77% 79.71% -67.12%
Accrued Expenses $237.3M $194.3M $177.9M
YoY Change 33.39% 60.05% 11.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $353.8M $318.2M $254.0M
YoY Change 39.32% 53.12% -3.09%
LONG-TERM LIABILITIES
Long-Term Debt $1.779B $1.576B $1.052B
YoY Change 69.22% 49.9% -13.58%
Other Long-Term Liabilities $6.232M $6.130M $5.546M
YoY Change 12.37% -22.08% 64.42%
Total Long-Term Liabilities $1.786B $1.582B $1.057B
YoY Change 68.92% 49.37% -13.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $353.8M $318.2M $254.0M
Total Long-Term Liabilities $1.786B $1.582B $1.057B
Total Liabilities $2.348B $1.978B $1.352B
YoY Change 73.7% 53.97% -10.29%
SHAREHOLDERS EQUITY
Retained Earnings $252.6M $51.32M -$12.98M
YoY Change -2046.02% -163.18% -90.09%
Common Stock $1.311B $1.303B $1.285B
YoY Change 1.97% 91301.12% 100074.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change -100.0%
Treasury Stock Shares 0.000 shares
Shareholders Equity $1.563B $1.355B $1.272B
YoY Change
Total Liabilities & Shareholders Equity $3.911B $3.333B $2.624B
YoY Change 49.05% 34.38% 12.21%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $201.3M $83.41M $68.20M
YoY Change 195.13% 567.26% 477.97%
Depreciation, Depletion And Amortization $79.90M $63.94M $47.30M
YoY Change 68.92% 14.22% -29.93%
Cash From Operating Activities $122.0M $136.2M $89.30M
YoY Change 36.62% 40.27% -4.29%
INVESTING ACTIVITIES
Capital Expenditures -$355.7M -$537.4M -$175.3M
YoY Change 102.91% 157.87% -14.03%
Acquisitions
YoY Change
Other Investing Activities -$17.40M -$17.10M $20.40M
YoY Change -185.29% -103.98% 20300.0%
Cash From Investing Activities -$373.3M -$554.5M -$154.9M
YoY Change 140.99% -350.56% -24.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 224.9M 74.50M -1.500M
YoY Change -15093.33% -176.96% -101.31%
NET CHANGE
Cash From Operating Activities 122.0M 136.2M 89.30M
Cash From Investing Activities -373.3M -554.5M -154.9M
Cash From Financing Activities 224.9M 74.50M -1.500M
Net Change In Cash -26.40M -343.8M -67.10M
YoY Change -60.66% -255.14% -1736.59%
FREE CASH FLOW
Cash From Operating Activities $122.0M $136.2M $89.30M
Capital Expenditures -$355.7M -$537.4M -$175.3M
Free Cash Flow $477.7M $673.6M $264.6M
YoY Change 80.54% 120.49% -10.97%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Credit risk</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&#8217;s oil and natural gas sales are made to a variety of purchasers, including intrastate and interstate pipelines or their marketing affiliates and independent marketing companies. The Company&#8217;s joint operations accounts receivable are from a number of oil and natural gas companies, partnerships, individuals and others who own interests in the oil and gas properties operated by the Company. Management believes that any credit risk imposed by a concentration in the oil and natural gas industry is offset by the creditworthiness of the Company&#8217;s customer base and industry partners. The Company routinely assesses the recoverability of all material trade and other receivables to determine collectability.</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 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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CY2014Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
2670000 USD
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.36
CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.35
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.39
CY2013Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.46
CY2014Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2013Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2014Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14444000 USD
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
16711000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3415000 USD
CY2014Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1248000 USD
CY2013Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
CY2014Q3 us-gaap Equity Method Investments
EquityMethodInvestments
40810000 USD
CY2013Q4 us-gaap Equity Method Investments
EquityMethodInvestments
5913000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-1447000 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-2732000 USD
CY2013Q3 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-8000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
0 USD
CY2014Q3 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
-23000 USD
us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-1447000 USD
CY2014Q3 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
92790000 USD
us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-2709000 USD
CY2013Q3 us-gaap Gain Loss On Price Risk Derivative Instruments Not Designated As Hedging Instruments
GainLossOnPriceRiskDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-9830000 USD
CY2014Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2192000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2418000 USD
CY2013Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
607000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
548000 USD
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
24405000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
84284000 USD
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
27078000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
64534000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
11817000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
64295000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
48248000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
83407000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
99806000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
21865000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
129185000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
79453000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.46
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.59
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.09
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.37
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.09
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.58
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.45
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1516000 USD
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
726000 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
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013Q3 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 Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2013Q3 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 Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2013Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
48000 USD
CY2014Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-61000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-86000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-65000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31205000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45778000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
35511000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10048000 USD
us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
31970000 USD
us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
35511000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
10369000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
45778000 USD
CY2013Q3 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
49000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
22000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1134000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
34932000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
27014000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
45215000 USD
CY2013Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
7434000 USD
CY2013Q3 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
156000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
152000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
495000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
632000 USD
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-59000 USD
CY2013Q3 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-285000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1881000 USD
CY2014Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-247000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
3223000 USD
CY2013Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2651000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-17724000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
39456000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
26449000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5873000 USD
CY2014Q3 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-9540000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1640000 USD
CY2013Q3 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-4391000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-4071000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-7908000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1406000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1383000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
8656000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
570000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
2373000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
662000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2734000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
86000 USD
CY2013Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
59000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
310000 USD
CY2014Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
33000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
51000 USD
CY2014Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
51000 USD
CY2013Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
43000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
255000 USD
CY2013Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
24972000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
90243000 USD
CY2014Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
30600000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
76476000 USD
us-gaap Interest Expense
InterestExpense
90192000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
30549000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
24929000 USD
us-gaap Interest Expense
InterestExpense
76221000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
75187000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
85092000 USD
CY2014Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
38952000 USD
CY2013Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
26627000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-89882000 USD
CY2013Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-24870000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-76135000 USD
CY2014Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-30516000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
255000 USD
us-gaap Interest Paid Net
InterestPaidNet
85041000 USD
us-gaap Interest Paid Net
InterestPaidNet
74932000 USD
CY2014Q3 us-gaap Interest Payable Current
InterestPayableCurrent
27525000 USD
CY2013Q4 us-gaap Interest Payable Current
InterestPayableCurrent
25885000 USD
CY2013Q4 us-gaap Inventory Net
InventoryNet
9633000 USD
CY2014Q3 us-gaap Inventory Net
InventoryNet
10787000 USD
CY2013Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5913000 USD
CY2014Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
40810000 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
67129000 USD
CY2014Q3 us-gaap Lease Operating Expense
LeaseOperatingExpense
25165000 USD
CY2013Q3 us-gaap Lease Operating Expense
LeaseOperatingExpense
19565000 USD
us-gaap Lease Operating Expense
LeaseOperatingExpense
64192000 USD
CY2014Q3 us-gaap Liabilities
Liabilities
1978214000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
1351504000 USD
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3332909000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2623760000 USD
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
253969000 USD
CY2014Q3 us-gaap Liabilities Current
LiabilitiesCurrent
318174000 USD
CY2014Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000.0 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1051538000 USD
CY2014Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1576358000 USD
us-gaap Nature Of Operations
NatureOfOperations
<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 acquisition, exploration and development 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 and (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
131566000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
515019000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1033748000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-174958000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
376336000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
275438000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12543000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
83407000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
64295000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
49764000 USD
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
60021000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-79886000 USD
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-35555000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-93957000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2013Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
16629000 USD
CY2014Q3 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
27164000 USD
CY2013Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
2135348000 USD
CY2014Q3 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
2939164000 USD
CY2014Q3 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
199490000 USD
us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
511513000 USD
us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
555576000 USD
CY2013Q3 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
170840000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
193763000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
57420000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
159339000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
69164000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18733000 USD
CY2014Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
12020000 USD
CY2014Q3 us-gaap Other Assets Current
OtherAssetsCurrent
18159000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
12698000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
255000 USD
CY2014Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1683000 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
72231000 USD
CY2014Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
66090000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5546000 USD
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
6130000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4075000 USD
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-10685000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3751000 USD
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
90537000 USD
CY2014Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
4154000 USD
CY2013Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3042000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4075000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1478000 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
33710000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
6493000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
37581000 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
925121000 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
538395000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
13874000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
13612000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q3 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
CY2014Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7372000 USD
CY2013Q4 us-gaap Prepaid Expense Current
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us-gaap Prior Period Reclassification Adjustment Description
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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;">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 </font><font style="font-family:inherit;font-size:10pt;">2014</font><font style="font-family:inherit;font-size:10pt;"> presentation. These reclassifications had no impact to previously reported net income, total stockholders' equity or cash flows.</font></div></div>
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
298104000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
450000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
75000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Sale Of Other Productive Assets
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us-gaap Proceeds From Sale Of Other Productive Assets
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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654000 USD
CY2014Q3 us-gaap Production Tax Expense
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12550000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
395000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
51315000 USD
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us-gaap Production Tax Expense
ProductionTaxExpense
32890000 USD
us-gaap Production Tax Expense
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38160000 USD
CY2014Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4595173000 USD
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PropertyPlantAndEquipmentGross
3569199000 USD
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2204324000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
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PropertyPlantAndEquipmentOther
32832000 USD
CY2014Q3 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
43834000 USD
CY2013Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
21676000 USD
CY2014Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
30071000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
653000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-12980000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
200241000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
511841000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
556595000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
170840000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
16919000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13556000 USD
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0 USD
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
3029000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1885000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
1272256000 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
1354695000 USD
us-gaap Threshold Period Past Due For Writeoff Of Trade Accounts Receivable
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P90D
CY2014Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
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. 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 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>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143583000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136460000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131589000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143813000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141413000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134461000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
129701000 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1502000 USD
CY2014Q3 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
124000 USD
CY2013Q3 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1502000 USD
CY2014Q3 lpi Accounts Receivable Oil And Gas Sales Net Current
AccountsReceivableOilAndGasSalesNetCurrent
72449000 USD
CY2013Q4 lpi Accounts Receivable Oil And Gas Sales Net Current
AccountsReceivableOilAndGasSalesNetCurrent
57647000 USD
CY2014Q3 lpi Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
140273000 USD
CY2013Q4 lpi Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
116328000 USD
CY2014Q3 lpi Accumulated Depletion And Impairment Property Plant And Equipment
AccumulatedDepletionAndImpairmentPropertyPlantAndEquipment
1509417000 USD
CY2013Q4 lpi Accumulated Depletion And Impairment Property Plant And Equipment
AccumulatedDepletionAndImpairmentPropertyPlantAndEquipment
1349315000 USD
CY2013Q4 lpi Accumulated Depreciation Depletion Amortization And Impairment Property Plant And Equipment
AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment
1364875000 USD
CY2014Q3 lpi Accumulated Depreciation Depletion Amortization And Impairment Property Plant And Equipment
AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment
1530322000 USD
lpi Adjustmentsto Additional Paidin Capital Income Tax Benefitfrom Sharebased Compensation Potential Amount
AdjustmentstoAdditionalPaidinCapitalIncomeTaxBenefitfromSharebasedCompensationPotentialAmount
4500000 USD
lpi Amortizationof Financing Costs Continuingand Discontinued Operations
AmortizationofFinancingCostsContinuingandDiscontinuedOperations
3905000 USD
lpi Amortizationof Financing Costs Continuingand Discontinued Operations
AmortizationofFinancingCostsContinuingandDiscontinuedOperations
3823000 USD
CY2013 lpi Asset Retirement Obligation Settled Upon Plugging And Abandonment
AssetRetirementObligationSettledUponPluggingAndAbandonment
226000 USD
lpi Asset Retirement Obligation Settled Upon Plugging And Abandonment
AssetRetirementObligationSettledUponPluggingAndAbandonment
519000 USD
lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
4767000 USD
lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
1978000 USD
CY2013Q4 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
1927263000 USD
CY2014Q3 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
2512032000 USD
lpi Cash Settlements Of Matured Derivative Financial Instruments Net
CashSettlementsOfMaturedDerivativeFinancialInstrumentsNet
588000 USD
lpi Cash Settlements Of Matured Derivative Financial Instruments Net
CashSettlementsOfMaturedDerivativeFinancialInstrumentsNet
-1320000 USD
lpi Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments
ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments
170000 USD
lpi Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments
ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments
384000 USD
CY2013Q3 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
3100000 USD
lpi Costs Incurred Acquisition Of Oil And Gas Properties Asset Retirement Obligations
CostsIncurredAcquisitionOfOilAndGasPropertiesAssetRetirementObligations
2000000 USD
CY2014Q3 lpi Costs Incurred Acquisition Of Oil And Gas Properties Asset Retirement Obligations
CostsIncurredAcquisitionOfOilAndGasPropertiesAssetRetirementObligations
1600000 USD
CY2014Q3 lpi Deferred Finance Costs Amortization Expense After Year Five
DeferredFinanceCostsAmortizationExpenseAfterYearFive
7151000 USD
CY2014Q3 lpi Deferred Finance Costs Amortization Expense Remainder Of Fiscal Year
DeferredFinanceCostsAmortizationExpenseRemainderOfFiscalYear
1316000 USD
CY2014Q3 lpi Deferred Finance Costs Amortization Expense Year Five
DeferredFinanceCostsAmortizationExpenseYearFive
5222000 USD
CY2014Q3 lpi Deferred Finance Costs Amortization Expense Year Four
DeferredFinanceCostsAmortizationExpenseYearFour
5432000 USD
CY2014Q3 lpi Deferred Finance Costs Amortization Expense Year Three
DeferredFinanceCostsAmortizationExpenseYearThree
5361000 USD
CY2014Q3 lpi Deferred Finance Costs Amortization Expense Year Two
DeferredFinanceCostsAmortizationExpenseYearTwo
5295000 USD
CY2013Q3 lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
74000 USD
lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
163000 USD
lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
499000 USD
CY2014Q3 lpi Deferred Income Tax Stock Based Compensation Tax Deficiency
DeferredIncomeTaxStockBasedCompensationTaxDeficiency
5000 USD
CY2013Q4 lpi Deferred Tax Assets Tax Deferred Expense Capitalized Interest
DeferredTaxAssetsTaxDeferredExpenseCapitalizedInterest
2099000 USD
CY2014Q3 lpi Deferred Tax Assets Tax Deferred Expense Capitalized Interest
DeferredTaxAssetsTaxDeferredExpenseCapitalizedInterest
2705000 USD
CY2013Q4 lpi Deferred Tax Liabilities Net Before Valuation Allowance
DeferredTaxLiabilitiesNetBeforeValuationAllowance
12527000 USD
CY2014Q3 lpi Deferred Tax Liabilities Net Before Valuation Allowance
DeferredTaxLiabilitiesNetBeforeValuationAllowance
46875000 USD
CY2013Q3 lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
20.83
lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
19.83
lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
20.36
CY2014Q3 lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
20.25
lpi Depreciation Depletion And Amortization Continuing And Discontinued Operations
DepreciationDepletionAndAmortizationContinuingAndDiscontinuedOperations
166605000 USD
lpi Depreciation Depletion And Amortization Continuing And Discontinued Operations
DepreciationDepletionAndAmortizationContinuingAndDiscontinuedOperations
187346000 USD
CY2014Q3 lpi Derivative Financial Instrument Deferred Premium Future Payments Due
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDue
11334000 USD
CY2014Q3 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Duein Five Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueinFiveYears
339000 USD
CY2014Q3 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Duein Three Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueinThreeYears
358000 USD
CY2014Q3 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Duein Two Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueinTwoYears
5166000 USD
CY2014Q3 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Remaining Fiscal Year
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueRemainingFiscalYear
1820000 USD
CY2014Q3 lpi Derivative Financial Instrument Deferred Premium Future Payments Duein Four Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueinFourYears
3651000 USD
lpi Disposal Group Including Discontinued Operation Depreciation Depletion And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationDepletionAndAmortization
627000 USD
CY2013Q3 lpi Disposal Group Including Discontinued Operation Depreciation Depletion And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationDepletionAndAmortization
0 USD
lpi Disposal Groups Discontinued Operations Costs And Expenses Amount
DisposalGroupsDiscontinuedOperationsCostsAndExpensesAmount
1790000 USD
CY2013Q3 lpi Disposal Groups Discontinued Operations Costs And Expenses Amount
DisposalGroupsDiscontinuedOperationsCostsAndExpensesAmount
-286000 USD
CY2013Q3 lpi Disposal Groups Midstream Service Costs
DisposalGroupsMidstreamServiceCosts
-286000 USD
lpi Disposal Groups Midstream Service Costs
DisposalGroupsMidstreamServiceCosts
1163000 USD
lpi Disposal Groups Midstream Service Revenue
DisposalGroupsMidstreamServiceRevenue
4071000 USD
CY2013Q3 lpi Disposal Groups Midstream Service Revenue
DisposalGroupsMidstreamServiceRevenue
761000 USD
lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
483000 USD
CY2013Q3 lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
72000 USD
CY2014Q3 lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
4000 USD
lpi Income Tax Reconciliation Stock Based Compensation Tax Deficiency
IncomeTaxReconciliationStockBasedCompensationTaxDeficiency
160000 USD
lpi Increase Decrease In Fair Value Of Performance Unit Awards
IncreaseDecreaseInFairValueOfPerformanceUnitAwards
767000 USD
lpi Increase Decrease In Fair Value Of Performance Unit Awards
IncreaseDecreaseInFairValueOfPerformanceUnitAwards
4950000 USD
lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
-5780000 USD
lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
14105000 USD
lpi Increase Decreasein Investmentswith Affiliates
IncreaseDecreaseinInvestmentswithAffiliates
0 USD
lpi Increase Decreasein Investmentswith Affiliates
IncreaseDecreaseinInvestmentswithAffiliates
0 USD
CY2014Q3 lpi Lease Operating Expense Accrual
LeaseOperatingExpenseAccrual
11263000 USD
CY2013Q4 lpi Lease Operating Expense Accrual
LeaseOperatingExpenseAccrual
10637000 USD
CY2014Q3 lpi Midstream Service Assets
MidstreamServiceAssets
102758000 USD
CY2013Q4 lpi Midstream Service Assets
MidstreamServiceAssets
51704000 USD
CY2013Q4 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
47300000 USD
CY2014Q3 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
95616000 USD
lpi Premiums Paid For Derivative Financial Instruments
PremiumsPaidForDerivativeFinancialInstruments
5599000 USD
CY2014Q3 lpi Midstream Service Costs
MidstreamServiceCosts
1225000 USD
CY2013Q3 lpi Midstream Service Costs
MidstreamServiceCosts
1090000 USD
lpi Midstream Service Costs
MidstreamServiceCosts
2569000 USD
lpi Midstream Service Costs
MidstreamServiceCosts
3596000 USD
CY2013Q3 lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
305000 USD
lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
444000 USD
CY2014Q3 lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
675000 USD
lpi Natural Gas Midstream Costs Related Party
NaturalGasMidstreamCostsRelatedParty
1779000 USD
lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
328000 USD
CY2014Q3 lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
751000 USD
lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
1019000 USD
CY2013Q3 lpi Oiland Gas Midstream Service Revenue
OilandGasMidstreamServiceRevenue
0 USD
CY2013Q4 lpi Other Assets Current Not Separately Disclosed
OtherAssetsCurrentNotSeparatelyDisclosed
230291000 USD
CY2014Q3 lpi Other Assets Current Not Separately Disclosed
OtherAssetsCurrentNotSeparatelyDisclosed
86694000 USD
CY2013Q4 lpi Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
105914000 USD
CY2014Q3 lpi Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
36787000 USD
CY2013Q4 lpi Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
237967000 USD
CY2014Q3 lpi Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
262716000 USD
CY2013Q4 lpi Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
45997000 USD
CY2014Q3 lpi Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
83682000 USD
lpi Paymentsto Acquire Midstream Service Assets
PaymentstoAcquireMidstreamServiceAssets
45263000 USD
lpi Paymentsto Acquire Midstream Service Assets
PaymentstoAcquireMidstreamServiceAssets
15394000 USD
lpi Premiums Paid For Derivative Financial Instruments
PremiumsPaidForDerivativeFinancialInstruments
7920000 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
5366000 USD
lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
20334000 USD
CY2013Q3 lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
5876000 USD
CY2014Q3 lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
7442000 USD
lpi Sharebased Compensation Arrangementby Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementbySharebasedPaymentAwardCompensationCost1
13556000 USD
lpi Threshold Period Past Duefor Accounts Receivable
ThresholdPeriodPastDueforAccountsReceivable
P30D
CY2014Q3 lpi Undistributed Revenue And Accrued Royalties Current
UndistributedRevenueAndAccruedRoyaltiesCurrent
49229000 USD
CY2013Q4 lpi Undistributed Revenue And Accrued Royalties Current
UndistributedRevenueAndAccruedRoyaltiesCurrent
35124000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001528129
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
143685200 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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