LPI - Laredo Petroleum: Reserve Report Implications

• 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.
• As long as technology in the industry advances, then reserve reports for acreage are likely to increase long term for the foreseeable future.
• Reserve reports only cover the oil that can be recovered. Those reports usually do not show all the oil in place. That is usually a far greater amount.
• There is still a fair number of oil containing formations that we still do not know how to produce.

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