$VTLE
Vital Energy, Inc.

2019 Q1 Form 10-Q Financial Statement

#000152812919000081 Filed on May 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $208.9M $259.7M
YoY Change -19.54% 37.4%
Cost Of Revenue $68.90M $95.10M
YoY Change -27.55% 23.67%
Gross Profit $140.1M $164.6M
YoY Change -14.88% 46.83%
Gross Profit Margin 67.05% 63.38%
Selling, General & Admin $21.50M $24.70M
YoY Change -12.96% -3.52%
% of Gross Profit 15.35% 15.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $63.10M $45.55M
YoY Change 38.52% 33.54%
% of Gross Profit 45.04% 27.67%
Operating Expenses $85.70M $71.40M
YoY Change 20.03% 17.43%
Operating Profit $54.40M $93.19M
YoY Change -41.63% 81.57%
Interest Expense $15.55M $13.52M
YoY Change 15.01% -40.5%
% of Operating Profit 28.58% 14.51%
Other Income/Expense, Net -$63.98M -$6.672M
YoY Change 858.99% -139.36%
Pretax Income -$9.587M $86.52M
YoY Change -111.08% 26.72%
Income Tax -$96.00K $0.00
% Of Pretax Income 0.0%
Net Earnings -$9.491M $86.52M
YoY Change -110.97% 26.72%
Net Earnings / Revenue -4.54% 33.32%
Basic Earnings Per Share -$0.82 $0.36
Diluted Earnings Per Share -$0.82 $0.36
COMMON SHARES
Basic Shares Outstanding 230.5M shares 238.2M shares
Diluted Shares Outstanding 230.5M shares 239.3M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.50M $55.90M
YoY Change -20.39% 83.88%
Cash & Equivalents $44.54M $55.89M
Short-Term Investments
Other Short-Term Assets $13.06M $16.02M
YoY Change -18.5% 1.19%
Inventory
Prepaid Expenses
Receivables $107.5M $97.84M
Other Receivables $0.00 $0.00
Total Short-Term Assets $172.7M $185.2M
YoY Change -6.73% 21.34%
LONG-TERM ASSETS
Property, Plant & Equipment $2.301B $1.882B
YoY Change 22.23% 34.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.41M $15.55M
YoY Change 5.56% 104.18%
Total Long-Term Assets $2.342B $1.902B
YoY Change 23.11% 14.19%
TOTAL ASSETS
Total Short-Term Assets $172.7M $185.2M
Total Long-Term Assets $2.342B $1.902B
Total Assets $2.515B $2.088B
YoY Change 20.47% 14.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $76.60M $88.90M
YoY Change -13.84% 259.37%
Accrued Expenses $47.30M $39.40M
YoY Change 20.05% -60.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $203.6M $239.7M
YoY Change -15.04% 47.64%
LONG-TERM LIABILITIES
Long-Term Debt $1.064B $847.3M
YoY Change 25.58% -37.22%
Other Long-Term Liabilities $6.235M $3.575M
YoY Change 74.41% -0.06%
Total Long-Term Liabilities $1.070B $850.9M
YoY Change 25.79% -37.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $203.6M $239.7M
Total Long-Term Liabilities $1.070B $850.9M
Total Liabilities $1.343B $1.146B
YoY Change 17.25% -26.82%
SHAREHOLDERS EQUITY
Retained Earnings -$1.213B -$1.441B
YoY Change -15.86% -32.95%
Common Stock $2.384B $2.383B
YoY Change 0.04% -0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.171B $941.8M
YoY Change
Total Liabilities & Shareholders Equity $2.515B $2.088B
YoY Change 20.47% 14.79%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$9.491M $86.52M
YoY Change -110.97% 26.72%
Depreciation, Depletion And Amortization $63.10M $45.55M
YoY Change 38.52% 33.54%
Cash From Operating Activities $77.46M $146.5M
YoY Change -47.12% 129.64%
INVESTING ACTIVITIES
Capital Expenditures -$155.5M -$202.4M
YoY Change -23.17% 78.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.700M
YoY Change -100.0% -95.46%
Cash From Investing Activities -$155.5M -$199.7M
YoY Change -22.15% 270.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $53.71M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $77.39M -$3.067M
YoY Change -2623.25% -74.74%
NET CHANGE
Cash From Operating Activities $77.46M $146.5M
Cash From Investing Activities -$155.5M -$199.7M
Cash From Financing Activities $77.39M -$3.067M
Net Change In Cash -$607.0K -$56.27M
YoY Change -98.92% 2325.43%
FREE CASH FLOW
Cash From Operating Activities $77.46M $146.5M
Capital Expenditures -$155.5M -$202.4M
Free Cash Flow $233.0M $348.9M
YoY Change -33.23% 96.79%

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CY2018Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-374000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
77458000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
146471000 USD
CY2019Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
152729000 USD
CY2018Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
195025000 USD
CY2019Q1 lpi Payments To Acquire Midstream Service Assets
PaymentsToAcquireMidstreamServiceAssets
2262000 USD
CY2018Q1 lpi Payments To Acquire Midstream Service Assets
PaymentsToAcquireMidstreamServiceAssets
3362000 USD
CY2019Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
505000 USD
CY2018Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
3963000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
CY2018Q1 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
1655000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
43000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1021000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-155453000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-199674000 USD
CY2019Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
80000000 USD
CY2018Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
55000000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
53714000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2612000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4353000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
77388000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3067000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-607000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-56270000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45151000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
112159000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44544000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55889000 USD
CY2019Q1 us-gaap Nature Of Operations
NatureOfOperations
Organization and basis of presentation <div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">a.</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">    </span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Organization</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span 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 </span><span style="font-family:inherit;font-size:10pt;">an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties, and midstream and marketing services, primarily in the Permian Basin of West Texas</span><span style="font-family:inherit;font-size:10pt;">. 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.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">b.</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">    </span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of presentation</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The unaudited consolidated financial statements were derived from the historical accounting records of the Company and reflect the historical financial position, results of operations and cash flows for the periods described herein. The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). All material intercompany transactions and account balances have been eliminated in the consolidation of accounts.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The unaudited consolidated financial statements have not been audited by the Company's independent registered public accounting firm, except that the consolidated balance sheet as of </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;"> is derived from audited consolidated financial statements. In the opinion of management, the unaudited consolidated financial statements reflect all necessary adjustments to present fairly the Company's financial position as of </span><span style="font-family:inherit;font-size:10pt;">March 31, 2019</span><span style="font-family:inherit;font-size:10pt;"> and results of operations and cash flows for each of the </span><span style="font-family:inherit;font-size:10pt;">three</span><span style="font-family:inherit;font-size:10pt;"> months ended </span><span style="font-family:inherit;font-size:10pt;">March 31, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certain disclosures have been condensed or omitted from the unaudited consolidated financial statements. Accordingly, the unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> Annual Report.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Significant accounting policies</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">See Note 2 in the </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> Annual Report for discussion of significant accounting policies and Note </span><span style="font-family:inherit;font-size:10pt;">3</span><span style="font-family:inherit;font-size:10pt;"> for those related to the adoption of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 842, Leases ("ASC 842"). </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of estimates in the preparation of interim unaudited consolidated financial statements</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of the 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.</span></div><span style="font-family:inherit;font-size:10pt;">For further information regarding the use of estimates and assumptions, see Note 2.b in the </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> Annual Report, Note </span><span style="font-family:inherit;font-size:10pt;">3</span><span style="font-family:inherit;font-size:10pt;"> pertaining to the Company's leases and Note </span><span style="font-family:inherit;font-size:10pt;">6.c</span> pertaining to the Company's 2019 performance unit awards.
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of estimates in the preparation of interim unaudited consolidated financial statements</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of the 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.</span></div><span style="font-family:inherit;font-size:10pt;">For further information regarding the use of estimates and assumptions, see Note 2.b in the </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> Annual Report, Note </span><span style="font-family:inherit;font-size:10pt;">3</span><span style="font-family:inherit;font-size:10pt;"> pertaining to the Company's leases and Note </span><span style="font-family:inherit;font-size:10pt;">6.c</span> pertaining to the Company's 2019 performance unit awards.
CY2019Q1 lpi Average Working Interest Core Operating Producing Wells Percent
AverageWorkingInterestCoreOperatingProducingWellsPercent
0.97
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3528000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
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CY2019Q1 us-gaap Sublease Income
SubleaseIncome
247000 USD
CY2019Q1 us-gaap Lease Cost
LeaseCost
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CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0828
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
12260000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3331000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3029000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2360000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1252000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4243000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
26475000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4278000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
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CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
11301000 USD
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OperatingLeasesFutureMinimumPaymentsDueInTwoYears
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2560000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1358000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
4556000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
17873000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
5900000 USD
CY2019Q1 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
6951343000 USD
CY2018Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
6752631000 USD
CY2019Q1 lpi Accumulated Depletionand Impairment Oiland Natural Gas Properties
AccumulatedDepletionandImpairmentOilandNaturalGasProperties
4913384000 USD
CY2018Q4 lpi Accumulated Depletionand Impairment Oiland Natural Gas Properties
AccumulatedDepletionandImpairmentOilandNaturalGasProperties
4854017000 USD
CY2019Q1 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
2037959000 USD
CY2018Q4 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
1898614000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2300642000 USD
CY2019Q1 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
92467000 USD
CY2018Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
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CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2019Q1 lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
8.76
CY2018Q1 lpi Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
7.34
CY2019Q1 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
6682000 USD
CY2018Q1 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
6529000 USD
CY2019Q1 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
0 USD
CY2018Q1 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
0 USD
CY2019Q1 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
0 USD
CY2018Q1 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
0 USD
CY2019Q1 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
7505000 USD
CY2018Q1 us-gaap Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
6137000 USD
CY2019Q1 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
152717000 USD
CY2018Q1 us-gaap Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
149038000 USD
CY2019Q1 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
160222000 USD
CY2018Q1 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
155175000 USD
CY2019Q1 us-gaap Long Term Debt
LongTermDebt
1064081000 USD
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
990000000 USD
CY2019Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1070000000 USD
CY2019Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5919000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6364000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
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CY2018Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000 USD
CY2018 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
11048742 shares
CY2018 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.78
CY2018 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
97100000 USD
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
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CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
9305000 USD
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
11441000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1899000 USD
CY2018Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2102000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2019Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2019Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2018Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2018Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
43506000 USD
CY2019Q1 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Remaining Fiscal Year
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueRemainingFiscalYear
11486000 USD
CY2019Q1 lpi Derivative Financial Instrument Deferred Premium Future Payments Due Due In Two Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueInTwoYears
1295000 USD
CY2019Q1 lpi Derivative Financial Instrument Deferred Premium Future Payments Due
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDue
12781000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
238228000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2019Q1 us-gaap Earnings Per Share Diluted
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CY2018Q1 us-gaap Earnings Per Share Diluted
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CY2019Q1 lpi Minimum Volume Commitments Deficiency Payments
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500000 USD
CY2018Q1 lpi Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
100000 USD
CY2018Q2 lpi Purchase Commitment Period
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P1Y
CY2019Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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CY2019Q1 us-gaap Accrual For Environmental Loss Contingencies
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CY2019Q1 us-gaap Interest Paid Capitalized
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CY2018Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
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CY2019Q1 lpi Change In Capital Expenditures Incurred But Not Yet Paid
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CY2018Q1 lpi Change In Capital Expenditures Incurred But Not Yet Paid
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CY2018Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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2102000 USD
CY2019Q1 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
271000 USD
CY2018Q1 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
130000 USD
CY2019Q1 lpi Increase In Accrued Stock Repurchases
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0 USD
CY2018Q1 lpi Increase In Accrued Stock Repurchases
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4761000 USD
CY2019Q1 us-gaap Operating Lease Payments
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3564000 USD
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CY2019Q1 us-gaap Deferred Tax Assets Valuation Allowance
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CY2018Q4 us-gaap Asset Retirement Obligation
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CY2017Q4 us-gaap Asset Retirement Obligation
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55506000 USD
CY2019Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
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CY2018Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
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130000 USD
CY2019Q1 us-gaap Asset Retirement Obligation Accretion Expense
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CY2018Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1106000 USD
CY2019Q1 us-gaap Asset Retirement Obligation Liabilities Settled
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447000 USD
CY2018Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
440000 USD
CY2019Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
57758000 USD
CY2018Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2019Q1 lpi Tax Cuts And Jobs Act Of2017 Net Operating Loss Carryforward That Will Not Expire
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157200000 USD
CY2019Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
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4100000 USD
CY2019Q1 us-gaap Accounts Receivable Net Current
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107520000 USD
CY2019Q1 lpi Other Assets Current Not Separately Disclosed
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65210000 USD
CY2019Q1 us-gaap Oil And Gas Property Full Cost Method Net
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2130426000 USD
CY2019Q1 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
131118000 USD
CY2019Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
39098000 USD
CY2019Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2019Q1 lpi Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
41417000 USD
CY2019Q1 us-gaap Assets
Assets
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CY2019Q1 us-gaap Accounts Payable And Accrued Liabilities Current
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76644000 USD
CY2019Q1 lpi Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
126978000 USD
CY2019Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1064081000 USD
CY2019Q1 lpi Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
75654000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1171432000 USD
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2514789000 USD
CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
94321000 USD
CY2018Q4 lpi Other Assets Current Not Separately Disclosed
OtherAssetsCurrentNotSeparatelyDisclosed
98431000 USD
CY2018Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
2029571000 USD
CY2018Q4 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
130245000 USD
CY2018Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
39819000 USD
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2018Q4 lpi Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
27918000 USD
CY2018Q4 us-gaap Assets
Assets
2420305000 USD
CY2018Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
69504000 USD
CY2018Q4 lpi Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
130961000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
983636000 USD
CY2018Q4 lpi Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
61974000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1174230000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2420305000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
208947000 USD
CY2019Q1 us-gaap Costs And Expenses
CostsAndExpenses
154550000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
54397000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
15547000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-48437000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9587000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-96000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-9491000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
259696000 USD
CY2018Q1 us-gaap Costs And Expenses
CostsAndExpenses
166504000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
93192000 USD
CY2018Q1 us-gaap Interest Expense
InterestExpense
13518000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6846000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
86520000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
86520000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
77458000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-155453000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
77388000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-607000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45151000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44544000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
146471000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-199674000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3067000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-56270000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
112159000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55889000 USD

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