$VTLE
Vital Energy, Inc.

2022 Q1 Form 10-Q Financial Statement

#000152812922000091 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $532.4M $250.2M
YoY Change 112.76% 22.07%
Cost Of Revenue $167.5M $95.10M
YoY Change 76.11% -24.1%
Gross Profit $364.9M $155.1M
YoY Change 135.27% 94.6%
Gross Profit Margin 68.54% 61.98%
Selling, General & Admin $21.94M $13.10M
YoY Change 67.51% 3.97%
% of Gross Profit 6.01% 8.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.49M $38.11M
YoY Change 92.85% -37.83%
% of Gross Profit 20.14% 24.57%
Operating Expenses $96.46M $52.30M
YoY Change 84.43% -30.27%
Operating Profit $268.5M $102.8M
YoY Change 161.14% -156.49%
Interest Expense $32.48M $25.95M
YoY Change 25.17% 3.91%
% of Operating Profit 12.1% 25.24%
Other Income/Expense, Net -$356.1M -$179.0M
YoY Change 98.94% -169.1%
Pretax Income -$87.66M -$76.20M
YoY Change 15.04% -198.88%
Income Tax -$877.0K -$762.0K
% Of Pretax Income
Net Earnings -$86.78M -$75.44M
YoY Change 15.03% -201.06%
Net Earnings / Revenue -16.3% -30.15%
Basic Earnings Per Share -$5.18 -$6.33
Diluted Earnings Per Share -$5.18 -$6.33
COMMON SHARES
Basic Shares Outstanding 16.77M shares 11.92M shares
Diluted Shares Outstanding 16.77M shares 11.92M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.14M $44.30M
YoY Change 47.04% -29.46%
Cash & Equivalents $65.14M $44.26M
Short-Term Investments
Other Short-Term Assets $17.77M $26.12M
YoY Change -31.99% 43.18%
Inventory
Prepaid Expenses
Receivables $213.5M $67.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $302.4M $138.1M
YoY Change 118.95% -67.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.348B $1.303B
YoY Change 80.12% -37.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.49M $18.49M
YoY Change 129.86% 43.63%
Total Long-Term Assets $2.424B $1.337B
YoY Change 81.33% -38.59%
TOTAL ASSETS
Total Short-Term Assets $302.4M $138.1M
Total Long-Term Assets $2.424B $1.337B
Total Assets $2.726B $1.475B
YoY Change 84.85% -43.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $73.23M $49.10M
YoY Change 49.14% -25.15%
Accrued Expenses $69.02M $39.20M
YoY Change 76.07% -40.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $775.5M $292.2M
YoY Change 165.36% 57.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.422B $1.145B
YoY Change 24.14% -8.91%
Other Long-Term Liabilities $18.09M $3.294M
YoY Change 449.24% -42.85%
Total Long-Term Liabilities $1.440B $1.149B
YoY Change 25.36% -9.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $775.5M $292.2M
Total Long-Term Liabilities $1.440B $1.149B
Total Liabilities $2.303B $1.543B
YoY Change 49.18% 1.25%
SHAREHOLDERS EQUITY
Retained Earnings -$2.362B -$2.495B
YoY Change -5.36% 90.38%
Common Stock $2.786B $2.427B
YoY Change 14.78% 1.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $423.8M -$68.57M
YoY Change
Total Liabilities & Shareholders Equity $2.726B $1.475B
YoY Change 84.85% -43.36%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$86.78M -$75.44M
YoY Change 15.03% -201.06%
Depreciation, Depletion And Amortization $73.49M $38.11M
YoY Change 92.85% -37.83%
Cash From Operating Activities $170.9M $71.15M
YoY Change 140.17% -35.07%
INVESTING ACTIVITIES
Capital Expenditures -$145.8M -$69.20M
YoY Change 110.76% -49.49%
Acquisitions
YoY Change
Other Investing Activities -$5.851M $200.0K
YoY Change -3025.5% -100.88%
Cash From Investing Activities -$151.7M -$69.02M
YoY Change 119.79% -56.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $26.87M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$10.85M -$6.626M
YoY Change 63.7% -109.19%
NET CHANGE
Cash From Operating Activities $170.9M $71.15M
Cash From Investing Activities -$151.7M -$69.02M
Cash From Financing Activities -$10.85M -$6.626M
Net Change In Cash $8.339M -$4.495M
YoY Change -285.52% -120.51%
FREE CASH FLOW
Cash From Operating Activities $170.9M $71.15M
Capital Expenditures -$145.8M -$69.20M
Free Cash Flow $316.7M $140.4M
YoY Change 125.67% -43.08%

Facts In Submission

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CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
425000 USD
CY2021Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1491000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
61742000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3728000 USD
CY2022Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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CY2021Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
10264000 USD
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
15227000 USD
CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1636000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1842000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
9065000 USD
CY2022Q1 lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
44294000 USD
CY2021Q1 lpi Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
7290000 USD
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-1471000 USD
CY2021Q1 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
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CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
170882000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
71151000 USD
CY2022Q1 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
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CY2021Q1 us-gaap Payments To Acquire Oil And Gas Property
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CY2022Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
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CY2021Q1 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
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PaymentsToAcquireMidstreamServiceAssets
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CY2021Q1 lpi Payments To Acquire Midstream Service Assets
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CY2022Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
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CY2021Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
551000 USD
CY2022Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2019000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
189000 USD
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CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
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ProceedsFromLongTermLinesOfCredit
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CY2021Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
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CY2022Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
55000000 USD
CY2021Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
50000000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2022Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48757000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65137000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44262000 USD
CY2022Q1 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%">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%">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, 2021 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, 2022, results of operations for the three months ended March 31, 2022 and 2021 and cash flows for the three months ended March 31, 2022 and 2021.</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 2021 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%">Reclassifications</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 prior period amounts have been reclassified to conform to the current period financial statement presentation. There was no impact on previously reported total assets, total liabilities, net loss or stockholders' equity for the periods presented.</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%">There have been no material changes in the Company's significant accounting policies during the three months ended March 31, 2022. See Note 2 in the 2021 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 as of 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 in the 2021 Annual Report for further information regarding the use of estimates and assumptions.</span></div>
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 operating_segment
CY2022Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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%">Reclassifications</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 prior period amounts have been reclassified to conform to the current period financial statement presentation. There was no impact on previously reported total assets, total liabilities, net loss or stockholders' equity for the periods presented.</span></div>
CY2022Q1 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 as of 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 in the 2021 Annual Report for further information regarding the use of estimates and assumptions.</span></div>
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q1 us-gaap Capitalized Costs Proved Properties
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9149982000 USD
CY2021Q4 us-gaap Capitalized Costs Proved Properties
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8968668000 USD
CY2022Q1 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
7089265000 USD
CY2021Q4 us-gaap Capitalized Costs Accumulated Depreciation Depletion Amortization And Valuation Allowance For Relating To Oil And Gas Producing Activities
CapitalizedCostsAccumulatedDepreciationDepletionAmortizationAndValuationAllowanceForRelatingToOilAndGasProducingActivities
7019670000 USD
CY2022Q1 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
2060717000 USD
CY2021Q4 lpi Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
1948998000 USD
CY2022Q1 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
156899000 USD
CY2021Q4 us-gaap Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
170033000 USD
CY2022Q1 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
94632000 USD
CY2021Q4 lpi Midstream Service Assets Net
MidstreamServiceAssetsNet
96528000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2347622000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2250149000 USD
CY2022Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2021Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 USD
CY2022Q1 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
4780000 USD
CY2021Q1 us-gaap Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
0 USD
CY2022Q1 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
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3274000 USD
CY2021Q1 us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
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0 USD
CY2022Q1 us-gaap Costs Incurred Exploration Costs
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6753000 USD
CY2021Q1 us-gaap Costs Incurred Exploration Costs
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3957000 USD
CY2022Q1 us-gaap Costs Incurred Development Costs
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161615000 USD
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64492000 USD
CY2022Q1 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
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176422000 USD
CY2021Q1 us-gaap Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
68449000 USD
CY2022Q1 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
4343000 USD
CY2021Q1 lpi Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
4241000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
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1438957000 USD
CY2022Q1 us-gaap Deferred Finance Costs Net
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17136000 USD
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
1421821000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1443957000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
18099000 USD
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1425858000 USD
CY2022Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
CY2022Q1 lpi Debt Issuance Costs Including Line Of Credit Arrangements Net
DebtIssuanceCostsIncludingLineOfCreditArrangementsNet
24700000 USD
CY2021Q4 lpi Debt Issuance Costs Including Line Of Credit Arrangements Net
DebtIssuanceCostsIncludingLineOfCreditArrangementsNet
26200000 USD
CY2022Q1 us-gaap Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
28700000 USD
CY2021Q4 us-gaap Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
27200000 USD
CY2022Q1 lpi Derivative Number Of Types Of Instruments Held
DerivativeNumberOfTypesOfInstrumentsHeld
3 derivative
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5000 shares
CY2022Q1 us-gaap Share Price
SharePrice
76.60
CY2022Q1 us-gaap Share Price
SharePrice
83.00
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
39700000 USD
CY2022Q1 lpi Share Based Payment Arrangement Nonvested Award Excluding Option Cost Not Yet Recognized Amount Expected To Be Settled In Cash
ShareBasedPaymentArrangementNonvestedAwardExcludingOptionCostNotYetRecognizedAmountExpectedToBeSettledInCash
14000000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M10D
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8181000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3196000 USD
CY2022Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-325816000 USD
CY2021Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-154365000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-342945000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-342945000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-142500000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-142500000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-86781000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-75439000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16767000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11918000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16767000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11918000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.18
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.33
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.18
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.33
CY2022Q1 lpi Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
2100000 USD
CY2021Q1 lpi Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
1600000 USD
CY2022Q1 lpi Minimum Volume Commitments Deficiency Payments Liability
MinimumVolumeCommitmentsDeficiencyPaymentsLiability
5400000 USD
CY2022Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1463000 USD
CY2021Q1 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
449000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
63057000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
48030000 USD
CY2022Q1 lpi Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
18433000 USD
CY2021Q1 lpi Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
-351000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
583000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
670000 USD
CY2022Q1 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
181000 USD
CY2021Q1 lpi Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
397000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9949000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
72003000 USD
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
68326000 USD
CY2022Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
181000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
397000 USD
CY2022Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1019000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1143000 USD
CY2022Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
555000 USD
CY2021Q1 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
57000 USD
CY2022Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
72648000 USD
CY2021Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
69809000 USD
CY2022Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1200000 USD
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
455300000 USD
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.01

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