Friday, May 06, 2022 1:01:38 AM
interest debt in CC...
Besides increasing our borrowing
base to $1.25 billion and our elected
commitment to $1 billion, they built in
additional flexibility for us to determine
how we pay down debt. Through the
end of this year, as long as our net
debt-to-EBITDAX ratio is below 2.5
times, we have the flexibility to utilize
$250 million of our elected commitment
to purchase our call term debt.
CC transcript link...
https://www.fool.com/earnings/call-transcripts/2022/05/05/laredo-petroleum-lpi-q1-2022-earnings-call-transcr/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
And I did read the 10Q filing
this evening very closely...
https://www.otcmarkets.com/filing/html?id=15791953&guid=KtqwkpqXejruQOh
75,000 LPI shares were stated to
have been bot by LPI in 1st quarter
2022 on about page 40...
Oddly no real accounting elsewhere
pops out about it...They didn't say
they sold them in the same text...
No Treasury shares are on Balance
Sheet in the filing...
Is there a fund somewhere with
a lot more shares bot?...
Only a question, not an alarm...
https://www.otcmarkets.com/filing/html?id=15791953&guid=KtqwkpqXejruQOh
Over $6 million of higher interest
cost in 1st, quarter, 2022 versus
1st quarter, 2021...
Since company is on debt reduction
plans for 2022...
What did that ~ 6.5 million paid of
extra interest per quarter get?...
Oil Production up about 10,000
barrels per day is main answer...
+ 1,000,000 per day of revenue
at $100/bbl. oil price...
$30,000,000 per month...
$90,000,000 per quarter...
Almost a 14 fold increase of
revenue by using leverage...
On the increased and unhedged
oil production...
That is a good use of borrowing
that justifies the interest cost...
See, I'm not all Debbie Downer...
So we watch...LJ
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