$VTLE
Vital Energy, Inc. Stock $vtle

$vtle Overview Financials Valuation SEC Filings Company Website

2017 Q1 Form 10-Q Financial Statement

#000152812917000076 Filed on May 04, 2017

Income Statement

Concept	2017 Q1	2016 Q1
Revenue	$189.0M	$106.6M
YoY Change	77.38%	-29.29%
Cost Of Revenue	$76.90M	$60.50M
YoY Change	27.11%	-20.29%
Gross Profit	$112.1M	$46.00M
YoY Change	143.7%	-38.5%
Gross Profit Margin	59.31%	43.17%
Selling, General & Admin	$25.60M	$19.50M
YoY Change	31.28%	-10.96%
% of Gross Profit	22.84%	42.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$34.11M	$41.48M
YoY Change	-17.76%	-42.35%
% of Gross Profit	30.43%	90.17%
Operating Expenses	$60.80M	$61.70M
YoY Change	-1.46%	-34.64%
Operating Profit	$51.33M	-$176.8M
YoY Change	-129.03%	567.17%
Interest Expense	$22.72M	$23.71M
YoY Change	-4.16%	-26.87%
% of Operating Profit	44.27%
Other Income/Expense, Net	$16.95M	-$3.583M
YoY Change	-573.07%	-112.08%
Pretax Income	$68.28M	-$180.4M
YoY Change	-137.85%	-5788.14%
Income Tax	$0.00	$0.00
% Of Pretax Income	0.0%
Net Earnings	$68.28M	-$180.4M
YoY Change	-137.85%	38114.19%
Net Earnings / Revenue	36.12%	-169.27%
Basic Earnings Per Share	$0.29	-$0.85
Diluted Earnings Per Share	$0.28	-$0.85
COMMON SHARES
Basic Shares Outstanding	238.5M shares	211.6M shares
Diluted Shares Outstanding	244.4M shares	211.6M shares

Balance Sheet

Concept	2017 Q1	2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$30.40M	$12.10M
YoY Change	151.24%	-97.87%
Cash & Equivalents	$30.35M	$12.10M
Short-Term Investments
Other Short-Term Assets	$15.83M	$16.80M
YoY Change	-5.75%	-38.77%
Inventory	$8.300M	$8.500M
Prepaid Expenses
Receivables	$78.87M	$85.17M
Other Receivables	$838.0K	$678.0K
Total Short-Term Assets	$152.6M	$280.9M
YoY Change	-45.66%	-68.85%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.401B	$1.088B
YoY Change	28.84%	-69.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$247.0M	$194.8M
YoY Change	26.79%	169.09%
Other Assets	$7.615M	$10.34M
YoY Change	-26.33%	21.47%
Total Long-Term Assets	$1.666B	$1.356B
YoY Change	22.83%	-63.86%
TOTAL ASSETS
Total Short-Term Assets	$152.6M	$280.9M
Total Long-Term Assets	$1.666B	$1.356B
Total Assets	$1.819B	$1.637B
YoY Change	11.08%	-64.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$24.74M	$23.38M
YoY Change	5.8%	-23.11%
Accrued Expenses	$99.40M	$105.5M
YoY Change	-5.78%	-39.4%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change		-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$162.3M	$156.1M
YoY Change	4.01%	-82.52%
LONG-TERM LIABILITIES
Long-Term Debt	$1.350B	$1.477B
YoY Change	-8.62%	13.61%
Other Long-Term Liabilities	$3.577M	$3.971M
YoY Change	-9.92%	-3.33%
Total Long-Term Liabilities	$1.353B	$1.481B
YoY Change	-8.62%	13.55%
TOTAL LIABILITIES
Total Short-Term Liabilities	$162.3M	$156.1M
Total Long-Term Liabilities	$1.353B	$1.481B
Total Liabilities	$1.566B	$1.683B
YoY Change	-6.96%	-27.96%
SHAREHOLDERS EQUITY
Retained Earnings	-$2.150B	-$2.138B
YoY Change	0.57%	-947.89%
Common Stock	$2.403B	$2.092B
YoY Change	14.85%	1.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$252.9M	-$45.72M
YoY Change
Total Liabilities & Shareholders Equity	$1.819B	$1.637B
YoY Change	11.08%	-64.83%

Cashflow Statement

Concept	2017 Q1	2016 Q1
OPERATING ACTIVITIES
Net Income	$68.28M	-$180.4M
YoY Change	-137.85%	38114.19%
Depreciation, Depletion And Amortization	$34.11M	$41.48M
YoY Change	-17.76%	-42.35%
Cash From Operating Activities	$63.78M	$56.52M
YoY Change	12.86%	110.37%
INVESTING ACTIVITIES
Capital Expenditures	-$113.5M	-$107.7M
YoY Change	5.39%	-59.83%
Acquisitions
YoY Change
Other Investing Activities	$59.50M	-$26.40M
YoY Change	-325.38%	82.07%
Cash From Investing Activities	-$53.96M	-$134.2M
YoY Change	-59.78%	-52.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$0.00	$1.412M
YoY Change	-100.0%	-100.19%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$12.14M	$58.59M
YoY Change	-120.73%	-92.63%
NET CHANGE
Cash From Operating Activities	$63.78M	$56.52M
Cash From Investing Activities	-$53.96M	-$134.2M
Cash From Financing Activities	-$12.14M	$58.59M
Net Change In Cash	-$2.320M	-$19.06M
YoY Change	-87.83%	-103.53%
FREE CASH FLOW
Cash From Operating Activities	$63.78M	$56.52M
Capital Expenditures	-$113.5M	-$107.7M
Free Cash Flow	$177.3M	$164.2M
YoY Change	7.96%	-44.33%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2017Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2017Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2017Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2017Q1	dei	Document Period End Date DocumentPeriodEndDate	2017-03-31
CY2017Q1	dei	Document Type DocumentType	10-Q
CY2017Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001528129
CY2017Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	242487612	shares
CY2017Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2017Q1	dei	Entity Registrant Name EntityRegistrantName	Laredo Petroleum, Inc.
CY2016Q4	lpi	Accounts Receivable Matured Derivatives Current AccountsReceivableMaturedDerivativesCurrent	11059000	USD
CY2017Q1	lpi	Accounts Receivable Matured Derivatives Current AccountsReceivableMaturedDerivativesCurrent	3575000	USD
CY2016Q4	lpi	Accounts Receivable Oil And Gas Sales Net Current AccountsReceivableOilAndGasSalesNetCurrent	46999000	USD
CY2017Q1	lpi	Accounts Receivable Oil And Gas Sales Net Current AccountsReceivableOilAndGasSalesNetCurrent	46279000	USD
CY2016Q4	lpi	Accounts Receivable Purchased Oil And Other Product Sales Current AccountsReceivablePurchasedOilAndOtherProductSalesCurrent	16213000	USD
CY2017Q1	lpi	Accounts Receivable Purchased Oil And Other Product Sales Current AccountsReceivablePurchasedOilAndOtherProductSalesCurrent	15719000	USD
CY2016Q4	lpi	Accrued Capital Expenditures Current AccruedCapitalExpendituresCurrent	30845000	USD
CY2017Q1	lpi	Accrued Capital Expenditures Current AccruedCapitalExpendituresCurrent	44519000	USD
CY2016Q4	lpi	Accumulated Depreciation Depletion Amortization And Impairment Property Plant And Equipment AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment	4514183000	USD
CY2017Q1	lpi	Accumulated Depreciation Depletion Amortization And Impairment Property Plant And Equipment AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment	4544547000	USD
CY2016Q1	lpi	Allocated Sharebased Compensation Expense Gross AllocatedSharebasedCompensationExpenseGross	4620000	USD
CY2017Q1	lpi	Asset Retirement Obligation Settled Upon Plugging And Abandonment AssetRetirementObligationSettledUponPluggingAndAbandonment	285000	USD
CY2016Q1	lpi	Capitalized Asset Retirement Cost CapitalizedAssetRetirementCost	107000	USD
CY2017Q1	lpi	Capitalized Asset Retirement Cost CapitalizedAssetRetirementCost	124000	USD
CY2016Q1	lpi	Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred	3196000	USD
CY2017Q1	lpi	Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred	5210000	USD
CY2017Q1	lpi	Allocated Sharebased Compensation Expense Gross AllocatedSharebasedCompensationExpenseGross	11204000	USD
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CY2017Q1	lpi	Capitalized Costs Proved Properties Net CapitalizedCostsProvedPropertiesNet	1016220000	USD
CY2016Q1	lpi	Cash Settlements Of Matured Derivative Financial Instruments Net CashSettlementsOfMaturedDerivativeFinancialInstrumentsNet	65937000	USD
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CY2016Q1	lpi	Change In Capital Expenditures Incurred But Not Yet Paid ChangeInCapitalExpendituresIncurredButNotYetPaid	-18215000	USD
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CY2016Q1	lpi	Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments	72000	USD
CY2017Q1	lpi	Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments	41000	USD
CY2016Q1	lpi	Debt Issuance Costs Including Line Of Credit Arrangements Net DebtIssuanceCostsIncludingLineOfCreditArrangementsNet	18800000	USD
CY2017Q1	lpi	Debt Issuance Costs Including Line Of Credit Arrangements Net DebtIssuanceCostsIncludingLineOfCreditArrangementsNet	17800000	USD
CY2017Q1	lpi	Deferred Finance Costs Amortization Expense After Year Five DeferredFinanceCostsAmortizationExpenseAfterYearFive	1483000	USD
CY2017Q1	lpi	Deferred Finance Costs Amortization Expense Remainder Of Fiscal Year DeferredFinanceCostsAmortizationExpenseRemainderOfFiscalYear	3185000	USD
CY2017Q1	lpi	Deferred Finance Costs Amortization Expense Year Five DeferredFinanceCostsAmortizationExpenseYearFive	3102000	USD
CY2017Q1	lpi	Deferred Finance Costs Amortization Expense Year Four DeferredFinanceCostsAmortizationExpenseYearFour	3005000	USD
CY2017Q1	lpi	Deferred Finance Costs Amortization Expense Year Three DeferredFinanceCostsAmortizationExpenseYearThree	2915000	USD
CY2017Q1	lpi	Deferred Finance Costs Amortization Expense Year Two DeferredFinanceCostsAmortizationExpenseYearTwo	4068000	USD
CY2016Q1	lpi	Depletion Expense Per Physical Unit Of Production DepletionExpensePerPhysicalUnitOfProduction	9.00
CY2017Q1	lpi	Depletion Expense Per Physical Unit Of Production DepletionExpensePerPhysicalUnitOfProduction	6.45
CY2016Q1	lpi	Depreciation Depletion And Amortization Excluding Amortization Of Financing Costs DepreciationDepletionAndAmortizationExcludingAmortizationOfFinancingCosts	41478000	USD
CY2017Q1	lpi	Depreciation Depletion And Amortization Excluding Amortization Of Financing Costs DepreciationDepletionAndAmortizationExcludingAmortizationOfFinancingCosts	34112000	USD
CY2017Q1	lpi	Derivative Financial Instrument Deferred Premium Future Payments Due DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDue	13313000	USD
CY2017Q1	lpi	Derivative Financial Instrument Deferred Premium Future Payments Due Due In Three Years DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueInThreeYears	535000	USD
CY2017Q1	lpi	Derivative Financial Instrument Deferred Premium Future Payments Due Due In Two Years DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueInTwoYears	8444000	USD
CY2017Q1	lpi	Derivative Financial Instrument Deferred Premium Future Payments Due Remaining Fiscal Year DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueRemainingFiscalYear	4334000	USD
CY2017Q1	lpi	Discount Rate Full Cost Ceiling DiscountRateFullCostCeiling	0.1
CY2016Q1	lpi	Increase Decrease In Investments With Affiliates IncreaseDecreaseInInvestmentsWithAffiliates	0	USD
CY2017Q1	lpi	Increase Decrease In Investments With Affiliates IncreaseDecreaseInInvestmentsWithAffiliates	0	USD
CY2016Q1	lpi	Increase Decrease In Undistributed Revenue And Accrued Royalties IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties	-8258000	USD
CY2017Q1	lpi	Increase Decrease In Undistributed Revenue And Accrued Royalties IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties	171000	USD
CY2016Q4	lpi	Inventory And Linefill Assets InventoryAndLinefillAssets	8063000	USD
CY2017Q1	lpi	Inventory And Linefill Assets InventoryAndLinefillAssets	8286000	USD
CY2016Q4	lpi	Midstream Service Assets Net MidstreamServiceAssetsNet	126240000	USD
CY2017Q1	lpi	Midstream Service Assets Net MidstreamServiceAssetsNet	125287000	USD
CY2016Q1	lpi	Midstream Service Costs MidstreamServiceCosts	609000	USD
CY2017Q1	lpi	Midstream Service Costs MidstreamServiceCosts	916000	USD
CY2016Q1	lpi	Midstream Service Costs Including Minimum Volume Commitments MidstreamServiceCostsIncludingMinimumVolumeCommitments	609000	USD
CY2017Q1	lpi	Midstream Service Costs Including Minimum Volume Commitments MidstreamServiceCostsIncludingMinimumVolumeCommitments	916000	USD
CY2016Q1	lpi	Minimum Volume Commitments MinimumVolumeCommitments	0	USD
CY2017Q1	lpi	Minimum Volume Commitments MinimumVolumeCommitments	100000	USD
CY2016Q1	lpi	Oil And Gas Midstream Service Revenue OilAndGasMidstreamServiceRevenue	1801000	USD
CY2017Q1	lpi	Oil And Gas Midstream Service Revenue OilAndGasMidstreamServiceRevenue	2999000	USD
CY2016Q1	lpi	Oil And Gas Property Lease Operating Expense Including Production Tax OilAndGasPropertyLeaseOperatingExpenseIncludingProductionTax	26953000	USD
CY2017Q1	lpi	Oil And Gas Property Lease Operating Expense Including Production Tax OilAndGasPropertyLeaseOperatingExpenseIncludingProductionTax	25773000	USD
CY2016Q4	lpi	Oil Gas Properties Lease Operating Expense Accrual OilGasPropertiesLeaseOperatingExpenseAccrual	10572000	USD
CY2017Q1	lpi	Oil Gas Properties Lease Operating Expense Accrual OilGasPropertiesLeaseOperatingExpenseAccrual	8020000	USD
CY2016Q4	lpi	Other Assets Current Not Separately Disclosed OtherAssetsCurrentNotSeparatelyDisclosed	67910000	USD
CY2017Q1	lpi	Other Assets Current Not Separately Disclosed OtherAssetsCurrentNotSeparatelyDisclosed	73758000	USD
CY2016Q4	lpi	Other Assets Noncurrent Not Separately Disclosed OtherAssetsNoncurrentNotSeparatelyDisclosed	16749000	USD
CY2017Q1	lpi	Other Assets Noncurrent Not Separately Disclosed OtherAssetsNoncurrentNotSeparatelyDisclosed	17462000	USD
CY2016Q4	lpi	Other Liabilities Current Not Separately Disclosed OtherLiabilitiesCurrentNotSeparatelyDisclosed	172891000	USD
CY2017Q1	lpi	Other Liabilities Current Not Separately Disclosed OtherLiabilitiesCurrentNotSeparatelyDisclosed	137597000	USD
CY2016Q4	lpi	Other Liabilities Noncurrent Not Separately Disclosed OtherLiabilitiesNoncurrentNotSeparatelyDisclosed	59919000	USD
CY2017Q1	lpi	Other Liabilities Noncurrent Not Separately Disclosed OtherLiabilitiesNoncurrentNotSeparatelyDisclosed	53760000	USD
CY2016Q1	lpi	Payments To Acquire Midstream Service Assets PaymentsToAcquireMidstreamServiceAssets	1937000	USD
CY2017Q1	lpi	Payments To Acquire Midstream Service Assets PaymentsToAcquireMidstreamServiceAssets	1731000	USD
CY2016Q1	lpi	Premiums Paid For Derivative Financial Instruments PremiumsPaidForDerivativeFinancialInstruments	81850000	USD
CY2017Q1	lpi	Premiums Paid For Derivative Financial Instruments PremiumsPaidForDerivativeFinancialInstruments	2107000	USD
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CY2016Q1	lpi	Property Plant And Equipment Including Equity Method Investments Gross PropertyPlantAndEquipmentIncludingEquityMethodInvestmentsGross	5737679000	USD
CY2017Q1	lpi	Property Plant And Equipment Including Equity Method Investments Gross PropertyPlantAndEquipmentIncludingEquityMethodInvestmentsGross	6242814000	USD
CY2016Q4	lpi	Undistributed Revenue And Accrued Royalties Current UndistributedRevenueAndAccruedRoyaltiesCurrent	26838000	USD
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CY2016Q4	us-gaap	Accrual For Environmental Loss Contingencies AccrualForEnvironmentalLossContingencies	0	USD
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CY2017Q1	us-gaap	Accumulated Amortization Of Noncurrent Deferred Finance Costs AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts	22400000	USD
CY2016Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	2396236000	USD
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CY2017Q1	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	7501000	USD
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CY2016Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3838000	USD
CY2017Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	9224000	USD
CY2016Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	200000	USD
CY2017Q1	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	200000	USD
CY2016Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1120000	USD
CY2017Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1053000	USD
CY2016Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	161064000	USD
CY2017Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
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CY2016Q1	us-gaap	Costs Incurred Acquisition Of Unproved Oil And Gas Properties CostsIncurredAcquisitionOfUnprovedOilAndGasProperties	0	USD
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CY2016Q4	us-gaap	Asset Retirement Obligation AssetRetirementObligation	52207000	USD
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CY2016	us-gaap	Asset Retirement Obligation Revision Of Estimate AssetRetirementObligationRevisionOfEstimate	2132000	USD
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CY2016Q4	us-gaap	Assets Assets	1782346000	USD
CY2017Q1	us-gaap	Assets Assets	1818596000	USD
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CY2016Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2017Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2016Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
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CY2016Q4	us-gaap	Common Stock Value CommonStockValue	2419000	USD
CY2017Q1	us-gaap	Common Stock Value CommonStockValue	2426000	USD
CY2016Q1	us-gaap	Cost Of Purchased Oil And Gas CostOfPurchasedOilAndGas	32946000	USD
CY2017Q1	us-gaap	Cost Of Purchased Oil And Gas CostOfPurchasedOilAndGas	50256000	USD
CY2016Q1	us-gaap	Costs And Expenses CostsAndExpenses	283345000	USD
CY2017Q1	us-gaap	Costs And Expenses CostsAndExpenses	137680000	USD
CY2016Q1	us-gaap	Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves	0	USD
CY2017Q1	us-gaap	Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves	0	USD
CY2017Q1	us-gaap	Costs Incurred Development Costs CostsIncurredDevelopmentCosts	111158000	USD
CY2016Q1	us-gaap	Costs Incurred Exploration Costs CostsIncurredExplorationCosts	7263000	USD
CY2017Q1	us-gaap	Costs Incurred Exploration Costs CostsIncurredExplorationCosts	15543000	USD
CY2016Q1	us-gaap	Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities	89149000	USD
CY2017Q1	us-gaap	Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities	126701000	USD
CY2016Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	1370000000	USD
CY2017Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	1365000000	USD
CY2016Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	16091000	USD
CY2017Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	15409000	USD
CY2017Q1	us-gaap	Deferred Finance Costs Noncurrent Net DeferredFinanceCostsNoncurrentNet	17758000	USD
CY2016Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	0	USD
CY2017Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	0	USD
CY2017Q1	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	738400000	USD
CY2016Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	41478000	USD
CY2017Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	34112000	USD
CY2016Q4	us-gaap	Derivative Assets Current DerivativeAssetsCurrent	20947000	USD
CY2017Q1	us-gaap	Derivative Assets Current DerivativeAssetsCurrent	27575000	USD
CY2016Q4	us-gaap	Derivative Assets Noncurrent DerivativeAssetsNoncurrent	8718000	USD
CY2017Q1	us-gaap	Derivative Assets Noncurrent DerivativeAssetsNoncurrent	9847000	USD
CY2016Q4	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	20993000	USD
CY2017Q1	us-gaap	Derivative Liabilities Current DerivativeLiabilitiesCurrent	3132000	USD
CY2016Q4	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	5694000	USD
CY2017Q1	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	25000	USD
CY2016Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.85
CY2017Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.29
CY2016Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.85
CY2017Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.28
CY2016Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	25947000	USD
CY2017Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	5738000	USD
CY2016Q1	us-gaap	Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount	782000	USD
CY2017Q1	us-gaap	Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount	1980000	USD
CY2016Q4	us-gaap	Equity Method Investments EquityMethodInvestments	243953000	USD
CY2017Q1	us-gaap	Equity Method Investments EquityMethodInvestments	247021000	USD
CY2016Q1	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	17885000	USD
CY2017Q1	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	36671000	USD
CY2016Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-160000	USD
CY2017Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-214000	USD
CY2016Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	19451000	USD
CY2017Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	25597000	USD
CY2016Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-180371000	USD
CY2017Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	68276000	USD
CY2016Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2298000	USD
CY2017Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	3068000	USD
CY2016Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2017Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	9201000	USD
CY2017Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-7996000	USD
CY2016Q1	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	-26660000	USD
CY2017Q1	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	0	USD
CY2017Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	9684000	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-2526000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Accrued Liabilities IncreaseDecreaseInOtherAccruedLiabilities	-10414000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Accrued Liabilities IncreaseDecreaseInOtherAccruedLiabilities	-31955000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Noncurrent Liabilities IncreaseDecreaseInOtherNoncurrentLiabilities	-69000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Noncurrent Liabilities IncreaseDecreaseInOtherNoncurrentLiabilities	-44000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	2186000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	1591000	USD
CY2016Q1	us-gaap	Interest And Other Income InterestAndOtherIncome	99000	USD
CY2017Q1	us-gaap	Interest And Other Income InterestAndOtherIncome	145000	USD
CY2016Q1	us-gaap	Interest Expense InterestExpense	23705000	USD
CY2017Q1	us-gaap	Interest Expense InterestExpense	22720000	USD
CY2016Q1	us-gaap	Interest Paid Capitalized InterestPaidCapitalized	39000	USD
CY2017Q1	us-gaap	Interest Paid Capitalized InterestPaidCapitalized	230000	USD
CY2016Q4	us-gaap	Interest Payable Current InterestPayableCurrent	24152000	USD
CY2017Q1	us-gaap	Interest Payable Current InterestPayableCurrent	21612000	USD
CY2016Q4	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	243953000	USD
CY2017Q1	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	247021000	USD
CY2016Q1	us-gaap	Lease Operating Expense LeaseOperatingExpense	20518000	USD
CY2017Q1	us-gaap	Lease Operating Expense LeaseOperatingExpense	16992000	USD
CY2016Q4	us-gaap	Liabilities Liabilities	1601773000	USD
CY2017Q1	us-gaap	Liabilities Liabilities	1565686000	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1782346000	USD
CY2017Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1818596000	USD
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	187945000	USD
CY2017Q1	us-gaap	Liabilities Current LiabilitiesCurrent	162335000	USD
CY2016Q4	us-gaap	Long Term Debt LongTermDebt	1353909000	USD
CY2017Q1	us-gaap	Long Term Debt LongTermDebt	1349591000	USD
CY2016Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	1353909000	USD
CY2017Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	1349591000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	58588000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-12143000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-134164000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-53961000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	56517000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	63784000	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	-180371000	USD
CY2017Q1	us-gaap	Net Income Loss NetIncomeLoss	68276000	USD
CY2016Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-3583000	USD
CY2017Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	16950000	USD
CY2017Q1	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	2	segment
CY2016Q4	us-gaap	Oil And Gas Joint Interest Billing Receivables Current OilAndGasJointInterestBillingReceivablesCurrent	12175000	USD
CY2017Q1	us-gaap	Oil And Gas Joint Interest Billing Receivables Current OilAndGasJointInterestBillingReceivablesCurrent	12460000	USD
CY2016Q4	us-gaap	Oil And Gas Property Full Cost Method Net OilAndGasPropertyFullCostMethodNet	1195854000	USD
CY2017Q1	us-gaap	Oil And Gas Property Full Cost Method Net OilAndGasPropertyFullCostMethodNet	1231818000	USD
CY2016Q4	us-gaap	Oil And Gas Sales Payable Current And Noncurrent OilAndGasSalesPayableCurrentAndNoncurrent	17213000	USD
CY2017Q1	us-gaap	Oil And Gas Sales Payable Current And Noncurrent OilAndGasSalesPayableCurrentAndNoncurrent	16610000	USD
CY2016Q1	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	73142000	USD
CY2017Q1	us-gaap	Oil And Gas Sales Revenue OilAndGasSalesRevenue	138736000	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-176788000	USD
CY2017Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	51326000	USD
CY2016Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	16331000	USD
CY2017Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	10957000	USD
CY2016Q4	us-gaap	Other Assets Current OtherAssetsCurrent	14291000	USD
CY2017Q1	us-gaap	Other Assets Current OtherAssetsCurrent	15831000	USD
CY2016Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	8031000	USD
CY2017Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	7615000	USD
CY2016Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	844000	USD
CY2017Q1	us-gaap	Other Cost And Expense Operating OtherCostAndExpenseOperating	1026000	USD
CY2016Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	94215000	USD
CY2017Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	62937000	USD
CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	3621000	USD
CY2017Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	3577000	USD
CY2016Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	20122000	USD
CY2017Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	39670000	USD
CY2016Q1	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	1006000	USD
CY2017Q1	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	1212000	USD
CY2016Q4	us-gaap	Other Receivables Net Current OtherReceivablesNetCurrent	421000	USD
CY2017Q1	us-gaap	Other Receivables Net Current OtherReceivablesNetCurrent	838000	USD
CY2016Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1412000	USD
CY2017Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	7501000	USD
CY2016Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
CY2017Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
CY2016Q1	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	26660000	USD
CY2017Q1	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	0	USD
CY2016Q1	us-gaap	Payments To Acquire Oil And Gas Property PaymentsToAcquireOilAndGasProperty	0	USD
CY2017Q1	us-gaap	Payments To Acquire Oil And Gas Property PaymentsToAcquireOilAndGasProperty	0	USD
CY2016Q1	us-gaap	Payments To Acquire Other Productive Assets PaymentsToAcquireOtherProductiveAssets	630000	USD
CY2017Q1	us-gaap	Payments To Acquire Other Productive Assets PaymentsToAcquireOtherProductiveAssets	1203000	USD
CY2016Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	107722000	USD
CY2017Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	113476000	USD
CY2016Q1	us-gaap	Payments To Explore And Develop Oil And Gas Properties PaymentsToExploreAndDevelopOilAndGasProperties	105155000	USD
CY2017Q1	us-gaap	Payments To Explore And Develop Oil And Gas Properties PaymentsToExploreAndDevelopOilAndGasProperties	110542000	USD
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2017Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2017Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2016Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2017Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2017Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q4	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	6228000	USD
CY2017Q1	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	7545000	USD
CY2016Q1	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	85000000	USD
CY2017Q1	us-gaap	Proceeds From Long Term Lines Of Credit ProceedsFromLongTermLinesOfCredit	50000000	USD
CY2016Q1	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	218000	USD
CY2017Q1	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	59515000	USD
CY2016Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	0	USD
CY2017Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	358000	USD
CY2016Q1	us-gaap	Production Tax Expense ProductionTaxExpense	6435000	USD
CY2017Q1	us-gaap	Production Tax Expense ProductionTaxExpense	8781000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1366867000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1401484000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	44773000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	44379000	USD
CY2016Q1	us-gaap	Repayments Of Long Term Lines Of Credit RepaymentsOfLongTermLinesOfCredit	25000000	USD
CY2017Q1	us-gaap	Repayments Of Long Term Lines Of Credit RepaymentsOfLongTermLinesOfCredit	55000000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-2218082000	USD
CY2017Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-2149806000	USD
CY2016Q1	us-gaap	Revenue From Purchased Oil And Gas RevenueFromPurchasedOilAndGas	31614000	USD
CY2017Q1	us-gaap	Revenue From Purchased Oil And Gas RevenueFromPurchasedOilAndGas	47271000	USD
CY2016Q1	us-gaap	Sales Revenue Net SalesRevenueNet	106557000	USD
CY2017Q1	us-gaap	Sales Revenue Net SalesRevenueNet	189006000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	3838000	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	9224000	USD
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid	6394000	USD
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid	0	USD
CY2017Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	0	USD
CY2017Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Gross StockIssuedDuringPeriodValueRestrictedStockAwardGross	0	USD
CY2017Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	358000	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	180573000	USD
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	252910000	USD
CY2017Q1	us-gaap	Threshold Period Past Due For Writeoff Of Trade Accounts Receivable ThresholdPeriodPastDueForWriteoffOfTradeAccountsReceivable	P90D
CY2017Q1	us-gaap	Treasury Stock Retired Cost Method Amount TreasuryStockRetiredCostMethodAmount	0	USD
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	211560000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	244379000	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	211560000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	238505000	shares
CY2016Q1	us-gaap	Well Service Expense WellServiceExpense	0	USD
CY2017Q1	us-gaap	Well Service Expense WellServiceExpense	0	USD
CY2016Q1	us-gaap	Write Off Of Deferred Debt Issuance Cost WriteOffOfDeferredDebtIssuanceCost	0	USD
CY2017Q1	us-gaap	Write Off Of Deferred Debt Issuance Cost WriteOffOfDeferredDebtIssuanceCost	0	USD
CY2017Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<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;"></font><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's oil, NGL 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'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 natural gas properties operated by the Company. The Company's sales of purchased oil are made to </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> customer. 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'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, NGL and natural gas price volatility. These transactions expose the Company to potential credit risk from its counterparties. In accordance with the Company'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>
CY2017Q1	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;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Laredo Petroleum, Inc. ("Laredo"), together with its wholly-owned subsidiaries, Laredo Midstream Services, LLC ("LMS") and Garden City Minerals, LLC ("GCM"), is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties, and the </font><font style="font-family:inherit;font-size:10pt;">gathering of oil and liquids-rich natural gas</font><font style="font-family:inherit;font-size:10pt;"> from such properties, primarily in the Permian Basin in West Texas. LMS and GCM (together, the "Guarantors") guarantee all of Laredo's debt instruments. In these notes, the "Company" refers to Laredo, LMS and GCM collectively, unless the context indicates otherwise. All amounts, dollars and percentages presented in these unaudited consolidated financial statements and the related notes are rounded and therefore approximate. </font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LMS holds </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;"> of the ownership units of Medallion Gathering & Processing, LLC, a Texas limited liability company formed on October 12, 2012, which, together with its wholly-owned subsidiaries (collectively, "Medallion"), is focused on developing midstream solutions and providing midstream infrastructure in the Midland Basin. The Company accounts for Medallion as an equity method investment.</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 operates in </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> business segments: (i) exploration and production and (ii) midstream and marketing. The exploration and production segment is engaged in the acquisition, exploration and development of oil and natural gas properties. The midstream and marketing segment provides Laredo's exploration and production segment and third parties with products and services that need to be delivered by midstream infrastructure, including oil and liquids-rich natural gas gathering services as well as rig fuel, natural gas lift and water delivery and takeaway.</font></div></div>
CY2017Q1	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;"></font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> </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 2017 presentation. These reclassifications had no impact to previously reported balance sheets or stockholders' equity.</font></div></div>
CY2017Q1	us-gaap	Use Of Estimates UseOfEstimates	<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;"></font><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's reserves of oil, NGL and natural gas, (ii) future cash flows from oil and natural gas properties, (iii) depletion, depreciation and amortization, (iv) impairments, (v) asset retirement obligations, (vi) stock-based compensation, (vii) deferred income taxes, (viii) fair value of assets acquired and liabilities assumed in an acquisition and (ix) fair value of derivatives and deferred premiums. As fair value is a market-based measurement, it is determined based on the assumptions that would be used by market participants. These estimates and assumptions are based on management'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>

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2017 Q1 Form 10-Q Financial Statement

#000152812917000076 Filed on May 04, 2017

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2017 Q1 Form 10-Q Financial Statement

#000152812917000076 Filed on May 04, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VTLE
Vital Energy, Inc. Stock $vtle