Laredo CEO on Harvey Impact, Drilling and Growth Strategy

The transcript covers the impact of Hurricane Harvey on operations, quarterly performance with a focus on gas to oil ratio, strategies to handle completion delays, and the role of midstream assets in expansion. It also discusses land acquisition strategies and potential exit strategies, emphasizing the importance of shareholder value and capital efficiency.

How did the company manage to avoid major disruptions during Hurricane Harvey?

• By increasing production in unaffected areas

• By relocating their headquarters

• By having multiple places to take crude and wet gas

• By halting all operations temporarily

What was the Wall Street's response to the company's quarterly performance?

• They were impressed by the high oil production

• They were focused on the company's new acquisitions

• They were concerned about the lower than expected oil production

• They were indifferent to the production figures

What is a major concern for companies regarding completion delays?

• High cost of drilling equipment

• Lack of skilled labor

• Environmental regulations

• Over drilling and making mistakes

How does the company ensure they do not outrun their data?

• By focusing solely on financial metrics

• By outsourcing data analysis

• By maintaining a proper cadence and not rushing drilling operations

• By drilling as many wells as possible

What is the company's approach to land acquisition?

• Buying land at any cost

• Acquiring land only if it is as good or better than current holdings

• Avoiding land purchases altogether

• Focusing on international land acquisitions

What is the company's stance on selling the business?

• They are actively looking to sell

• They are not interested in selling at all

• They are open to selling if it benefits shareholders

• They plan to sell within the next year

What would make the company consider an exit strategy?

• A significant drop in oil prices

• A better opportunity for shareholder value

• A change in management

• A new government regulation