Permian Basin pure-plays Laredo Petroleum Inc. and Centennial Resource Development Inc. each reported production impacts from the freezing weather wrought by Winter Storm Uri during February, but the storm also resulted in a sharp uptick in revenue from selling more oil and gas. 

Tulsa,OK-based Laredo reported Permian volumes were down year/year at 78,989 boe/d from 86,532 boe/d, in part because of the freeze that slammed Texas during February. 

The executive team held firm, though, on keeping costs down and efficiencies up, Laredo CEO Jason Pigott said during the quarterly conference call.

“We maintained a disciplined approach to personnel expenses, continued to drive well costs lower, substantially outperformed our assumptions for lease operating expenses and quickly and...