$VTLE
Vital Energy, Inc.

2021 Q1 Form 10-Q Financial Statement

#000152812921000084 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $250.2M $205.0M
YoY Change 22.07% -1.89%
Cost Of Revenue $95.10M $125.3M
YoY Change -24.1% 81.86%
Gross Profit $155.1M $79.70M
YoY Change 94.6% -43.11%
Gross Profit Margin 61.98% 38.88%
Selling, General & Admin $13.10M $12.60M
YoY Change 3.97% -41.4%
% of Gross Profit 8.45% 15.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $38.11M $61.30M
YoY Change -37.83% -2.85%
% of Gross Profit 24.57% 76.92%
Operating Expenses $52.30M $75.00M
YoY Change -30.27% -12.49%
Operating Profit $102.8M -$182.0M
YoY Change -156.49% -434.53%
Interest Expense $25.95M $24.97M
YoY Change 3.91% 60.61%
% of Operating Profit 25.24%
Other Income/Expense, Net -$179.0M $259.0M
YoY Change -169.1% -504.84%
Pretax Income -$76.20M $77.06M
YoY Change -198.88% -903.83%
Income Tax -$762.0K $2.417M
% Of Pretax Income 3.14%
Net Earnings -$75.44M $74.65M
YoY Change -201.06% -886.49%
Net Earnings / Revenue -30.15% 36.41%
Basic Earnings Per Share -$6.33 $6.43
Diluted Earnings Per Share -$6.33 $6.39
COMMON SHARES
Basic Shares Outstanding 11.92M shares 11.62M shares
Diluted Shares Outstanding 11.92M shares 11.67M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.30M $62.80M
YoY Change -29.46% 41.12%
Cash & Equivalents $44.26M $62.78M
Short-Term Investments
Other Short-Term Assets $26.12M $18.25M
YoY Change 43.18% 39.74%
Inventory
Prepaid Expenses
Receivables $67.70M $75.59M
Other Receivables $0.00 $0.00
Total Short-Term Assets $138.1M $427.3M
YoY Change -67.68% 147.38%
LONG-TERM ASSETS
Property, Plant & Equipment $1.303B $2.091B
YoY Change -37.67% -9.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.49M $12.87M
YoY Change 43.63% -21.58%
Total Long-Term Assets $1.337B $2.177B
YoY Change -38.59% -7.06%
TOTAL ASSETS
Total Short-Term Assets $138.1M $427.3M
Total Long-Term Assets $1.337B $2.177B
Total Assets $1.475B $2.604B
YoY Change -43.36% 3.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.10M $65.60M
YoY Change -25.15% -14.36%
Accrued Expenses $39.20M $65.50M
YoY Change -40.15% 38.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $292.2M $185.7M
YoY Change 57.39% -8.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.145B $1.257B
YoY Change -8.91% 18.17%
Other Long-Term Liabilities $3.294M $5.764M
YoY Change -42.85% -7.55%
Total Long-Term Liabilities $1.149B $1.263B
YoY Change -9.06% 18.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $292.2M $185.7M
Total Long-Term Liabilities $1.149B $1.263B
Total Liabilities $1.543B $1.524B
YoY Change 1.25% 13.48%
SHAREHOLDERS EQUITY
Retained Earnings -$2.495B -$1.311B
YoY Change 90.38% 8.07%
Common Stock $2.427B $2.390B
YoY Change 1.53% 0.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$68.57M $919.2M
YoY Change
Total Liabilities & Shareholders Equity $1.475B $2.604B
YoY Change -43.36% 3.55%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$75.44M $74.65M
YoY Change -201.06% -886.49%
Depreciation, Depletion And Amortization $38.11M $61.30M
YoY Change -37.83% -2.85%
Cash From Operating Activities $71.15M $109.6M
YoY Change -35.07% 41.48%
INVESTING ACTIVITIES
Capital Expenditures -$69.20M -$137.0M
YoY Change -49.49% -11.9%
Acquisitions
YoY Change
Other Investing Activities $200.0K -$22.80M
YoY Change -100.88%
Cash From Investing Activities -$69.02M -$159.8M
YoY Change -56.81% 2.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $26.87M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.626M $72.12M
YoY Change -109.19% -6.8%
NET CHANGE
Cash From Operating Activities $71.15M $109.6M
Cash From Investing Activities -$69.02M -$159.8M
Cash From Financing Activities -$6.626M $72.12M
Net Change In Cash -$4.495M $21.92M
YoY Change -120.51% -3711.2%
FREE CASH FLOW
Cash From Operating Activities $71.15M $109.6M
Capital Expenditures -$69.20M -$137.0M
Free Cash Flow $140.4M $246.6M
YoY Change -43.08% 5.85%

Facts In Submission

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PremiumsPaidReceivedForDerivativeFinancialInstruments
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CY2020Q1 lpi Premiums Paid Received For Derivative Financial Instruments
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CY2021Q1 us-gaap Amortization Of Financing Costs
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989000 USD
CY2020Q1 us-gaap Amortization Of Financing Costs
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1217000 USD
CY2021Q1 lpi Operating Lease Right Of Use Asset Amortization
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CY2020Q1 lpi Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
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CY2021Q1 us-gaap Gains Losses On Extinguishment Of Debt
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CY2020Q1 us-gaap Deferred Income Taxes And Tax Credits
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CY2021Q1 us-gaap Other Operating Activities Cash Flow Statement
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CY2020Q1 us-gaap Other Operating Activities Cash Flow Statement
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1327000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
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3728000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2021Q1 us-gaap Increase Decrease In Other Current Assets
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10264000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Assets
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CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Assets
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1636000 USD
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Assets
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2964000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021Q1 lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
7290000 USD
CY2020Q1 lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
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CY2020Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
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CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021Q1 us-gaap Payments To Acquire Oil And Gas Property
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CY2020Q1 us-gaap Payments To Acquire Oil And Gas Property
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CY2021Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
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CY2020Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
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CY2021Q1 lpi Payments To Acquire Midstream Service Assets
PaymentsToAcquireMidstreamServiceAssets
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CY2020Q1 lpi Payments To Acquire Midstream Service Assets
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CY2020Q1 us-gaap Payments To Acquire Other Productive Assets
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CY2020Q1 us-gaap Proceeds From Sale Of Productive Assets
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51000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
50000000 USD
CY2020Q1 us-gaap Repayments Of Long Term Lines Of Credit
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100000000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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0 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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1000000000 USD
CY2021Q1 us-gaap Repayments Of Senior Debt
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0 USD
CY2020Q1 us-gaap Repayments Of Senior Debt
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26866000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
640000 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
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CY2020Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
18383000 USD
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2798000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
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72122000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
21920000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48757000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40857000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44262000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62777000 USD
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
Organization and basis of presentation <div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:130%">a.    Organization</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:130%"> </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">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, primarily in the Permian Basin of West Texas. The Company has identified one operating segment: exploration and production. 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="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:130%">b.    Basis of presentation </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">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="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">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 December 31, 2020 is derived from the Company's 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 March 31, 2021, results of operations for the three months ended March 31, 2021 and 2020 and cash flows for the three months ended March 31, 2021 and 2020.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">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 2020 Annual Report.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:130%">Significant accounting policies</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">See Note 2 in the 2020 Annual Report for discussion of significant accounting policies.</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:130%">Use of estimates in the preparation of interim unaudited consolidated financial statements</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">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><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">See Note 2.b in the 2020 Annual Report for further information regarding the use of estimates and assumptions.</span></div>
CY2021Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 operating_segment
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:130%">Use of estimates in the preparation of interim unaudited consolidated financial statements</span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">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><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:130%">See Note 2.b in the 2020 Annual Report for further information regarding the use of estimates and assumptions.</span></div>
CY2021Q1 lpi Average Working Interest Core Operating Producing Wells Percent
AverageWorkingInterestCoreOperatingProducingWellsPercent
0.97
CY2021Q1 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
7953141000 USD
CY2020Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
7874932000 USD
CY2021Q1 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
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6852688000 USD
CY2020Q4 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
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6817949000 USD
CY2021Q1 lpi Capitalized Costs Proved Properties Net
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1100453000 USD
CY2020Q4 lpi Capitalized Costs Proved Properties Net
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1056983000 USD
CY2021Q1 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
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60260000 USD
CY2020Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
70020000 USD
CY2021Q1 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
111083000 USD
CY2020Q4 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
112697000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1303372000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1271711000 USD
CY2021Q1 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
0 USD
CY2020Q1 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
7586000 USD
CY2021Q1 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
0 USD
CY2020Q1 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
15556000 USD
CY2021Q1 us-gaap Costs Incurred Exploration Costs
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3957000 USD
CY2020Q1 us-gaap Costs Incurred Exploration Costs
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6710000 USD
CY2021Q1 us-gaap Costs Incurred Development Costs
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64492000 USD
CY2020Q1 us-gaap Costs Incurred Development Costs
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146158000 USD
CY2021Q1 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
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68449000 USD
CY2020Q1 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
176010000 USD
CY2021Q1 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
4241000 USD
CY2020Q1 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
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4505000 USD
CY2021Q1 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
34725000 USD
CY2020Q1 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
57752000 USD
CY2021Q1 lpi Depletion Expense Per Physical Unitof Production
DepletionExpensePerPhysicalUnitofProduction
4.88
CY2020Q1 lpi Depletion Expense Per Physical Unitof Production
DepletionExpensePerPhysicalUnitofProduction
7.33
CY2021Q1 lpi Discount Rate Full Cost Ceiling
DiscountRateFullCostCeiling
0.10
CY2021Q1 lpi Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
UnamortizedCostsCapitalizedBeforeRelatedDeferredIncomeTaxesExceedCeilingLimitationsExpense
0 USD
CY2020Q1 lpi Unamortized Costs Capitalized Before Related Deferred Income Taxes Exceed Ceiling Limitations Expense
UnamortizedCostsCapitalizedBeforeRelatedDeferredIncomeTaxesExceedCeilingLimitationsExpense
177182000 USD
CY2020Q4 lpi Bond Repurchase Program Authorized Amount
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50000000.0 USD
CY2020Q1 us-gaap Deferred Finance Costs Gross
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18400000 USD
CY2021Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
0 USD
CY2021Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
CY2021Q1 lpi Debt Issuance Costs Including Line Of Credit Arrangements Net
DebtIssuanceCostsIncludingLineOfCreditArrangementsNet
15700000 USD
CY2020Q4 lpi Debt Issuance Costs Including Line Of Credit Arrangements Net
DebtIssuanceCostsIncludingLineOfCreditArrangementsNet
17000000.0 USD
CY2021Q1 us-gaap Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
23100000 USD
CY2020Q4 us-gaap Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
22100000 USD
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1158957000 USD
CY2021Q1 us-gaap Deferred Finance Costs Net
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13583000 USD
CY2021Q1 us-gaap Long Term Debt
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CY2020Q4 us-gaap Debt Instrument Carrying Amount
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1193957000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
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14691000 USD
CY2020Q4 us-gaap Long Term Debt
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CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q2 us-gaap Common Stock Shares Authorized
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450000000 shares
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
22500000 shares
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q2 lpi Stock Shares Authorized
StockSharesAuthorized
72500000 shares
CY2021Q1 us-gaap Share Price
SharePrice
34.24
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3196000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2415000 USD
CY2021Q1 lpi Derivative Number Of Types Of Instruments Held
DerivativeNumberOfTypesOfInstrumentsHeld
3 derivative
CY2021Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-154365000 USD
CY2020Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
297836000 USD
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2021Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2020Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2020Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-35984000 USD
CY2021Q1 us-gaap Net Income Loss
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-75439000 USD
CY2020Q1 us-gaap Net Income Loss
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74646000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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11918000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11618000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11918000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11673000 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.33
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.43
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.33
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.39
CY2021Q1 lpi Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
1600000 USD
CY2020Q1 lpi Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
0 USD
CY2021Q1 lpi Minimum Volume Commitments Deficiency Payments Liability
MinimumVolumeCommitmentsDeficiencyPaymentsLiability
4400000 USD
CY2021Q1 us-gaap Accrual For Environmental Loss Contingencies
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0 USD
CY2020Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
0 USD
CY2021Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
449000 USD
CY2020Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1181000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
48030000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
23697000 USD
CY2021Q1 lpi Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
-351000 USD
CY2020Q1 lpi Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
16272000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
670000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
965000 USD
CY2021Q1 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
397000 USD
CY2020Q1 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
886000 USD
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
68326000 USD
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
62718000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
397000 USD
CY2020Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
886000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1143000 USD
CY2020Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1106000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
57000 USD
CY2020Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
497000 USD
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
69809000 USD
CY2020Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
64213000 USD
CY2021Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
505100000 USD

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