By Jack MoneyBusiness writer jmoney@oklahoman.comLaredo Petroleum took a non-cash impairment of about $406.5 million during the second quarter of 2020 on the way to posting a net loss of more than a half billion dollars for the period. In a report issued after markets closed Wednesday, Laredo reported it had posted a net loss of about $545 million, or $46.75 per share, on total revenues of about $110.6 million. During the second quarter of 2019, the company had posted a net income of about $173.4 million, or $14.99 per share, on total revenues of $216.6 million. "The macro environment during the second quarter of 2020 was unprecedented in its difficulties for the energy industry," Jason Pigott, Laredo’s CEO, stated as part of the earnings report.Read more on NewsOK.com
Laredo Petroleum Posts Net Loss Of About $545 Million For Second Quarter
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Thu, 08/06/2020 - 6:20pm
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