Laredo Petroleum, Inc. reported preliminary production results for the third quarter of 2022. The Company's third-quarter 2022 total production averaged ~79,500 barrels of oil equivalent per day ("MBOEPD"), within guidance of 78.5 - 81.5 MBOEPD. Oil production for the quarter averaged ~35,000 barrels of oil per day ("MBOPD"), below guidance of 35.5 - 37.5 MBOPD.

Oil production was negatively impacted as offset operator completions in Howard County affected more Laredo wells than expected. Of the impacted wells, newer, higher-production packages have returned to previous production expectations while older packages are taking longer than anticipated to return to expected production levels.