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Laredo Petroleum, Inc. (NYSE:LPI ) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Jason Pigott – President and Chief Executive Officer Ronald Hagood – Vice President, Investor Relations Karen Chandler – Senior Vice President and Chief Operations Officer Bryan Lemmerman – Senior Vice President and Chief Financial Officer David Ferris – Vice President and Chief Sustainability Officer Conference Call Participants Derrick Whitfield – Stifel John Daniel – Daniel Energy Partner Jordan Stuart – GoldenTree Joseph Mackay – Wells Fargo Nicholas Pope – Seaport Research Operator Good day, ladies and gentlemen, and welcome to the Laredo Petroleum Incorporated, First Quarter 2022, Earnings Conference Call. My name is Amanda and I will be your operator for today.

Drilling prospects have increased on the acquired acreage. This points to a reason why reserve reports often increase even though oil is produced every year.

Laredo is projected to generate $365 million in positive cash flow in 2022. It may be able to generate $600+ million in positive cash flow in 2023 at current strip due to reduced hedges.