Laredo Petroleum | 2011 Annual Report Corporate Profile

t r po e l r a u n n 1 a 1 | 20 m u e ol r t e P o d e r a L Laredo Petroleum | 2011 annual report Corporate Profile Laredo Petroleum is an independent energy company with headquarters in Tulsa, Oklahoma. Laredo’s business strategy is focused on the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Areas of Operation Our activities are primarily focused in the Wolfberry and deeper horizons of the Permian Basin in West Texas and the Anadarko Granite Wash in the Texas Panhandle and Western Oklahoma. These plays are characterized by high oil and liquids-rich natural gas content, multiple target horizons, extensive production histories, long-lived reserves, high drilling success rates and significant initial production rates. ANADARKO (Granite Wash) ★ Tulsa Headquarters Oklahoma Midland Dallas Office Office Texas PERMIAN BASIN ( Wol f ber r y, Cline, Wolfcamp) 4/5/12 4:09 PM Financial Highlights For the years ending December 31, 2011 2010 2009 2008 Total Production (Mboe) 8,654 5,212 3,563 1,546 Avg. Daily Production (Boe/D) 23,709 14,278 9,762 4,226 Proved Reserves (Mboe) 156,453 136,560 52,519 44,183 PDP Reserves (Mboe) 59,631 39,300 23,333 16,336 Revenue ($ in thousands) 510,270 242,000 96,574 74,187 Dear Stockholders: Laredo is a growing company within an industry that is currently supplying more domestically-sourced hydrocarbons to U.S. consumers than in the 1970s. U.S. independent exploration and production companies are an important contributor to the American standard of living and economy, in terms of the available energy they find, the jobs they create and the value of the technology and energy they produce. We are driving to deploy capital in a way that creates real value. We have sought to participate in the movement to expand America’s independence from foreign energy sources, many of whom are not allies. We have been p articularly focused on employing science and technology to limit risks and reveal the best exploration opportunities. Integrity has always been a big part of Laredo’s business. Previously, as a private company, time was on our side, since our investors were willing and able to get their returns when the drill bit delivered them. Being a public company amplifies Laredo’s relevance to a host of new constituents. Our company is now a client of public shareholders, a participant in the capital markets, of interest to industry media, an information source for competitors and analysts in our plays, and to some, we might even be a faceless publicly traded stock. These competing constituents sometimes have goals and agendas that are not always aligned with Laredo’s aim to create real value, perform our work and strengthen America’s energy sector. I don’t mean to say that these competing goals and agendas are wrong; they just aren’t necessarily Laredo’s. They might, for example, support a trader’s goal to make the fastest returns through transacting in our stock, or someone possibly dismissing the importance of our domestic production. Ultimately, we want the expectations of our company’s constituents to track as closely as possible with the real decisions and outcomes of the company’s board of directors, management and technical team. Do Laredo’s conservative operational and financial risk practices correlate well to those which everyday investors in our stock perceive they are taking? How aligned are the fundamentals and long-term goals of our company with the stock performance, media reports, financial analyst views and so on? Are we making our case, through industry organizations, that our safe oil and gas exploration and drilling today will make an impact on America’s long-term energy security? In the public markets, returns can be made on many sides of a trade. The success of the company isn’t always the outcome a trader desires, especially when he may short our stock or buy options to sell. Volatility is often a more attractive quality to short-term investors. And increasingly, fund managers are evaluated on shorter time horizons for delivering returns than our normal industry exploration-to-production-to-revenue recognition cycle allows; the 30144cx.indd 2 Total Production (Mboe) Proved Reserves (Mboe) Revenue ($ in thousands) 10,000 200,000 600,000 8,000 500,000 150,000 400,000 6,000 100,000 300,000 4,000 200,000 50,000 2,000 100,000 ’08 ’09 ’10 ’11 ’08 ’09 ’10 ’11 ’08 ’09 ’10 ’11 market has moved from annual return comparisons to monthly and sometimes even daily. The momentum and the faster trading required to produce these short-term returns are often accomplished through advanced algorithms and program orders. Does a black box really care about competency, integrity and the creation of value over the long term? We rely on the media to bring forth the domestic energy message. The short-term nature of instant headlines, the demise of in-depth, debate- based reporting, as well as the rise of social media inhibit the complexi- ties of energy issues from being fully discussed and understood in our culture. Democracy is dependent on education and the quest for truth. We will continue to be active in organizations like the Independent Petroleum Association of America and America’s Natural Gas Alliance, to educate and promote the domestic energy message, within whatever context or backdrop we operate. At Laredo, we stand firm. Our transition from a private to a public company has been a natural one, since our goals remain the same. We are focused on what we believe is a huge opportunity set, with significant potential value which we look to convert to realized value through the drill bit. Over time, we aim to bring forward future value to our shareholders through sound financial management (which includes Randy A. Foutch prudently managing risk and raising and deploying capital) and by Chairman & optimizing operational efficiencies. We know our work is important to Chief Executive Officer the domestic energy picture and we will continue to explore and utilize the best technology available. In our clear agenda, we’re happy to have your support. Randy A. Foutch Chairman & Chief Executive Officer Form 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ፤ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2011 or អ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35380 Laredo Petroleum Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3007926 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 15 W. Sixth Street, Suite 1800 Tulsa, Oklahoma 74119 (Address of principal executive offices) (Zip code) (918) 513-4570 (Registrant’s telephone number, including area code) Securities Registered Pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange On Which Registered Common Stock, $0.01 par value per share New York Stock Exchange Securities Registered Pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes អ No ፤ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes អ No ፤ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ፤ No អ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes អ No ፤ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ፤ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer’’ and ‘‘smaller reporting company’’ in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer អ Accelerated filer អ Non-accelerated filer ፤ Smaller reporting company អ (Do not check if a smaller reporting company) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes អ No ፤ The registrant was not a public company as of June 30, 2011, the last business day of the registrant’s most recently completed second fiscal quarter, and therefore cannot calculate the aggregate market value of its common stock held by non-affiliates as of such date. Number of shares of registrant’s common stock outstanding as of March 19, 2012: 128,160,646 Documents Incorporated by Reference: Portions of the registrant’s definitive proxy statement for its 2012 Annual Meeting of Stockholders, which will be filed with the Securities and Exchange Commission within 120 days of December 31, 2011, are incorporated by reference into Part III of this report for the year ended December 31, 2011.

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