Long Position on LPI @ $29.20 on 7/22/2014 (Momentum)

Laredo Petroleum (LPI) operates as an independent energy company in the United States.

It focuses on the exploration, development, and acquisition of oil and natural gas properties primarily in the Permian region, west Texas. The Permian Basin, located in west Texas and southeastern New Mexico, is the prolific onshore oil and natural gas producing regions in the United States. Its Permian activities are centered on the eastern side of the basin approximately 35 miles east of Midland, Texas in Glasscock, Howard, Reagan and Sterling Counties. As of December 31, 2013, it held 143,212 net acres in more than 300 sections in the Permian-Garden City area with an average working interest of 96% in all Laredo-operated producing wells.

As of December 31, 2013, it had interests in the 202,084 net acres in the Permian Basin, and 50,000 net acres in the Dalhart Basin, Texas Panhandle, as well as had a total proved reserves of 203,615 thousand barrels of oil equivalent.

Shares are heading higher in an upward trading channel. Higher share prices are expected for this stock. The company is expected to report its quarterly results on August 7th.

52-Week Trading Range: $20.11 - $34.60

Entry Point: $29.20

Stop Loss: $27.74

Target Price: $32.15

Updates

7/31/2014 12:37:44 PM

LPI fell below our stop loss. Closed at $27.56

Position closed on 7/31/2014 at price of $27.56 with a -5.62% loss in 9 days.

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