TULSA â Laredo Petroleum Inc. announced its first-quarter financial and operating results. Highlights included: ⢠Generated $71 million of cash flows from operating activities and $22 million of Free Cash Flow. ⢠Sold 723,579 shares at an average price of $38.75 for net proceeds of $26.9 million through the company's at-the-market equity program. ⢠Reduced net debt by $30 million during the quarter. ⢠Produced an average of 24,261 barrels of oil per day, an increase of 11% from the fourth quarter. ⢠Produced an average of 78,989 barrels of oil equivalent per day, a decrease of 4% from the fourth quarter. ⢠Reduced drilling, completions and equipment costs for a 10,000-foot well to $525 per foot and held costs incurred during the first quarter to $70 million.