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    <link:label id="lab_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF_terseLabel_en-US" xlink:label="lab_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employment Termination [Axis]</link:label>
    <link:label id="lab_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF_label_en-US" xlink:label="lab_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employment Termination [Axis]</link:label>
    <link:label id="lab_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF_documentation_en-US" xlink:label="lab_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employment Termination [Axis]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_EmploymentTerminationAxis" xlink:label="loc_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF" xlink:to="lab_lpi_EmploymentTerminationAxis_17E057E832CCAF698BEDA282995E85EF" xlink:type="arc" />
    <link:label id="lab_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310_terseLabel_en-US" xlink:label="lab_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employment Termination [Domain]</link:label>
    <link:label id="lab_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310_label_en-US" xlink:label="lab_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employment Termination [Domain]</link:label>
    <link:label id="lab_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310_documentation_en-US" xlink:label="lab_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Domain] for Employment Termination [Axis]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_EmploymentTerminationDomain" xlink:label="loc_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310" xlink:to="lab_lpi_EmploymentTerminationDomain_F9C02DBDF8CAE7017A95A282995FA310" xlink:type="arc" />
    <link:label id="lab_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE_terseLabel_en-US" xlink:label="lab_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination Caused By Death</link:label>
    <link:label id="lab_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE_label_en-US" xlink:label="lab_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Termination Caused By Death [Member]</link:label>
    <link:label id="lab_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE_documentation_en-US" xlink:label="lab_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Termination Caused By Death [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_TerminationCausedByDeathMember" xlink:label="loc_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE" xlink:to="lab_lpi_TerminationCausedByDeathMember_E09D3FA83BBAD7DD739DA282995F1BEE" xlink:type="arc" />
    <link:label id="lab_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3_terseLabel_en-US" xlink:label="lab_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination Without Cause</link:label>
    <link:label id="lab_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3_label_en-US" xlink:label="lab_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Termination Without Cause [Member]</link:label>
    <link:label id="lab_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3_documentation_en-US" xlink:label="lab_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Termination Without Cause [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_TerminationWithoutCauseMember" xlink:label="loc_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3" xlink:to="lab_lpi_TerminationWithoutCauseMember_0E283A4E3DD9B745F858A282995F75A3" xlink:type="arc" />
    <link:label id="lab_us-gaap_VestingAxis_6C0138884AEF84D242D5A282995F3559_terseLabel_en-US" xlink:label="lab_us-gaap_VestingAxis_6C0138884AEF84D242D5A282995F3559" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:label id="lab_us-gaap_VestingAxis_6C0138884AEF84D242D5A282995F3559_label_en-US" xlink:label="lab_us-gaap_VestingAxis_6C0138884AEF84D242D5A282995F3559" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_VestingAxis" xlink:label="loc_us-gaap_VestingAxis_6C0138884AEF84D242D5A282995F3559" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingAxis_6C0138884AEF84D242D5A282995F3559" xlink:to="lab_us-gaap_VestingAxis_6C0138884AEF84D242D5A282995F3559" xlink:type="arc" />
    <link:label id="lab_us-gaap_VestingDomain_B50E0702A74A2C71D34EA282995FA3A5_terseLabel_en-US" xlink:label="lab_us-gaap_VestingDomain_B50E0702A74A2C71D34EA282995FA3A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:label id="lab_us-gaap_VestingDomain_B50E0702A74A2C71D34EA282995FA3A5_label_en-US" xlink:label="lab_us-gaap_VestingDomain_B50E0702A74A2C71D34EA282995FA3A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_VestingDomain" xlink:label="loc_us-gaap_VestingDomain_B50E0702A74A2C71D34EA282995FA3A5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingDomain_B50E0702A74A2C71D34EA282995FA3A5" xlink:to="lab_us-gaap_VestingDomain_B50E0702A74A2C71D34EA282995FA3A5" xlink:type="arc" />
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B_verboseLabel_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Less than one year of continuous employment</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B_label_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of Continuous Employment Less Than One Full Year [Member]</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B_documentation_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period of continuous employment or service less than one full year.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember" xlink:label="loc_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B" xlink:to="lab_lpi_PeriodOfContinuousEmploymentLessThanOneFullYearMember_3B64099EE79CE1843046A282995F727B" xlink:type="arc" />
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919_verboseLabel_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">One year of continuous employment</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919_label_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of Continuous Employment One Full Year [Member]</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919_documentation_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period of continuous employment or service for one full year.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PeriodOfContinuousEmploymentOneFullYearMember" xlink:label="loc_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919" xlink:to="lab_lpi_PeriodOfContinuousEmploymentOneFullYearMember_9D20DC9A71E78655B8CFA282995F1919" xlink:type="arc" />
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5_verboseLabel_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Two years of continuous employment</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5_label_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of Continuous Employment Two Full Year [Member]</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5_documentation_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period of continuous employment or service for two full years.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PeriodOfContinuousEmploymentTwoFullYearMember" xlink:label="loc_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5" xlink:to="lab_lpi_PeriodOfContinuousEmploymentTwoFullYearMember_30875850AACE8D4AD66CA282995F31E5" xlink:type="arc" />
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9_verboseLabel_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Three years of continuous employment</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9_label_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of Continuous Employment Three Full Year [Member]</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9_documentation_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period of continuous employment or service for three full years.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PeriodOfContinuousEmploymentThreeFullYearMember" xlink:label="loc_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9" xlink:to="lab_lpi_PeriodOfContinuousEmploymentThreeFullYearMember_88E3437542393EA98865A282995FE8F9" xlink:type="arc" />
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C_verboseLabel_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Four years of continuous employment</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C_label_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Period of Continuous Employment Four Full Year [Member]</link:label>
    <link:label id="lab_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C_documentation_en-US" xlink:label="lab_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the period of continuous employment or service for four full years.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PeriodOfContinuousEmploymentFourFullYearMember" xlink:label="loc_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C" xlink:to="lab_lpi_PeriodOfContinuousEmploymentFourFullYearMember_3EEF63A99B1D3F5787B7A282995FCA6C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_3ECFD1AD98C7B7DE1E30A282995FE0C2_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_3ECFD1AD98C7B7DE1E30A282995FE0C2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity and stock-based compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_3ECFD1AD98C7B7DE1E30A282995FE0C2_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_3ECFD1AD98C7B7DE1E30A282995FE0C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_3ECFD1AD98C7B7DE1E30A282995FE0C2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_3ECFD1AD98C7B7DE1E30A282995FE0C2" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_3ECFD1AD98C7B7DE1E30A282995FE0C2" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_78B9F5F8E80B891A6EE4A282995F954D_verboseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_78B9F5F8E80B891A6EE4A282995F954D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Incremental percentage of option exercisable</link:label>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_78B9F5F8E80B891A6EE4A282995F954D_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_78B9F5F8E80B891A6EE4A282995F954D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</link:label>
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    <link:label id="lab_us-gaap_OtherNoncashIncomeExpense_BB93D7DE8371CC447BA8C3E11C84D45C_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense_BB93D7DE8371CC447BA8C3E11C84D45C" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherNoncashIncomeExpense_BB93D7DE8371CC447BA8C3E11C84D45C_label_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense_BB93D7DE8371CC447BA8C3E11C84D45C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncash Income (Expense)</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_1A48406E4079323B52CDC3E11C84D2AF_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_1A48406E4079323B52CDC3E11C84D2AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_1A48406E4079323B52CDC3E11C84D2AF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_A2A860BA78B79D8F1CF1C3E11C85F698_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_A2A860BA78B79D8F1CF1C3E11C85F698" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Increase in other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_A2A860BA78B79D8F1CF1C3E11C85F698_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_A2A860BA78B79D8F1CF1C3E11C85F698" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_A2A860BA78B79D8F1CF1C3E11C85F698" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayable_C467C6627D31348E84A6C3E11C852413_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayable_C467C6627D31348E84A6C3E11C852413" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in accounts payable</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayable_C467C6627D31348E84A6C3E11C852413" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsPayable_C467C6627D31348E84A6C3E11C852413" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsPayable_C467C6627D31348E84A6C3E11C852413" xlink:type="arc" />
    <link:label id="lab_lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties_0E69519505F8EEB40BA5C3E11C858D09_terseLabel_en-US" xlink:label="lab_lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties_0E69519505F8EEB40BA5C3E11C858D09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in undistributed revenues and royalties</link:label>
    <link:label id="lab_lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties_0E69519505F8EEB40BA5C3E11C858D09_label_en-US" xlink:label="lab_lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties_0E69519505F8EEB40BA5C3E11C858D09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Undistributed Revenue and Accrued Royalties</link:label>
    <link:label id="lab_lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties_0E69519505F8EEB40BA5C3E11C858D09_documentation_en-US" xlink:label="lab_lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties_0E69519505F8EEB40BA5C3E11C858D09" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the obligations due for undistributed revenue and royalties during the reporting period. Royalty payments are also paid by the lease holders for oil, gas, and mineral extraction.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties" xlink:label="loc_lpi_IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties_0E69519505F8EEB40BA5C3E11C858D09" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_20CA015D352AE86FBB2EC3E11C85A2EA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_668397F12B2258E09AA4C3E11C85F18E_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_668397F12B2258E09AA4C3E11C85F18E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in other noncurrent liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_668397F12B2258E09AA4C3E11C85F18E_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_668397F12B2258E09AA4C3E11C85F18E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Noncurrent Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_668397F12B2258E09AA4C3E11C85F18E" xlink:type="locator" />
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    <link:label id="lab_lpi_IncreaseDecreaseInFairValueOfPerformanceUnitAwards_13B92B56689AF25D50D8C3E11C858ADD_terseLabel_en-US" xlink:label="lab_lpi_IncreaseDecreaseInFairValueOfPerformanceUnitAwards_13B92B56689AF25D50D8C3E11C858ADD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in fair value of performance unit awards</link:label>
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    <link:label id="lab_lpi_IncreaseDecreaseInFairValueOfPerformanceUnitAwards_13B92B56689AF25D50D8C3E11C858ADD_documentation_en-US" xlink:label="lab_lpi_IncreaseDecreaseInFairValueOfPerformanceUnitAwards_13B92B56689AF25D50D8C3E11C858ADD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Fair Value Of Performance Unit Awards</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_IncreaseDecreaseInFairValueOfPerformanceUnitAwards" xlink:label="loc_lpi_IncreaseDecreaseInFairValueOfPerformanceUnitAwards_13B92B56689AF25D50D8C3E11C858ADD" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_B240250185341116D0CEC3E11C854CAF_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_B240250185341116D0CEC3E11C854CAF" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_B240250185341116D0CEC3E11C854CAF_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_B240250185341116D0CEC3E11C854CAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_B240250185341116D0CEC3E11C854CAF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_7ECE131AD6C97A447429C3E11C856370_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_7ECE131AD6C97A447429C3E11C856370" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_7ECE131AD6C97A447429C3E11C856370_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_7ECE131AD6C97A447429C3E11C856370" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_7ECE131AD6C97A447429C3E11C856370" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssetsAbstract_761A4BC271C63D6DD6C2C3E11C852FA8_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssetsAbstract_761A4BC271C63D6DD6C2C3E11C852FA8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures:</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssetsAbstract_761A4BC271C63D6DD6C2C3E11C852FA8_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssetsAbstract_761A4BC271C63D6DD6C2C3E11C852FA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Productive Assets [Abstract]</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireMineralRights_9BDE29A490BF60D6DC6CC3E11C854F50_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireMineralRights_9BDE29A490BF60D6DC6CC3E11C854F50" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of mineral interests</link:label>
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    <link:label id="lab_lpi_PaymentsToAcquirePipelineAndGatheringAssets_C981B49C1BFAB5C95E21C3E11C85681B_negatedLabel_en-US" xlink:label="lab_lpi_PaymentsToAcquirePipelineAndGatheringAssets_C981B49C1BFAB5C95E21C3E11C85681B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Midstream service assets</link:label>
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    <link:label id="lab_lpi_PaymentsToAcquirePipelineAndGatheringAssets_C981B49C1BFAB5C95E21C3E11C85681B_documentation_en-US" xlink:label="lab_lpi_PaymentsToAcquirePipelineAndGatheringAssets_C981B49C1BFAB5C95E21C3E11C85681B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash outflow associated with acquisition of or capital improvements on pipeline and gathering assets of the reporting entity during the reporting period.</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireOtherProductiveAssets_A14947A499A7ABF1C2DCC3E11C85920B_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireOtherProductiveAssets_A14947A499A7ABF1C2DCC3E11C85920B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other fixed assets</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_6F2331CB3B17D9A5369BC3E11C854A70_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_6F2331CB3B17D9A5369BC3E11C854A70" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment in equity method investee</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherProductiveAssets_93EBF56F20B131874966C3E11C855C8E_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherProductiveAssets_93EBF56F20B131874966C3E11C855C8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from dispositions of capital assets, net of costs</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_EB1465A72F3975A723E7C3E11C867C31_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_EB1465A72F3975A723E7C3E11C867C31" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in investing activities</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_B44C684A4AECA38879C8C3E11C868D4E_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_B44C684A4AECA38879C8C3E11C868D4E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings on Senior Secured Credit Facility</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:label="loc_us-gaap_ProceedsFromLongTermLinesOfCredit_B44C684A4AECA38879C8C3E11C868D4E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_6F3A30F1B0E3DB2990BAC3E11C86EF57_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_6F3A30F1B0E3DB2990BAC3E11C86EF57" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments on Senior Secured Credit Facility</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_6F3A30F1B0E3DB2990BAC3E11C86EF57_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermLinesOfCredit_6F3A30F1B0E3DB2990BAC3E11C86EF57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Long-term Lines of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" xlink:label="loc_us-gaap_RepaymentsOfLongTermLinesOfCredit_6F3A30F1B0E3DB2990BAC3E11C86EF57" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_C66ED99E8E258E922979C3E11C866C4F_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_C66ED99E8E258E922979C3E11C866C4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of January 2022 Notes</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_C66ED99E8E258E922979C3E11C866C4F_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_C66ED99E8E258E922979C3E11C866C4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Senior Long-term Debt</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_2820E0EB06DB09CCA097C3E11C865A2E_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_2820E0EB06DB09CCA097C3E11C865A2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Long-term Debt</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_1B8EEF96B14951CD06FBC3E11C86085E_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_1B8EEF96B14951CD06FBC3E11C86085E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of common stock, net of offering costs</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_TradeAccountsReceivableMember" xlink:label="loc_us-gaap_TradeAccountsReceivableMember_58D8806187E6F65E86AEBBE85FB96A10" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradeAccountsReceivableMember_58D8806187E6F65E86AEBBE85FB96A10" xlink:to="lab_us-gaap_TradeAccountsReceivableMember_58D8806187E6F65E86AEBBE85FB96A10" xlink:type="arc" />
    <link:label id="lab_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35_terseLabel_en-US" xlink:label="lab_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint operations accounts receivable</link:label>
    <link:label id="lab_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35_label_en-US" xlink:label="lab_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable Oil and Gas Joint Interest Billing Receivables [Member]</link:label>
    <link:label id="lab_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35_documentation_en-US" xlink:label="lab_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current portion of accounts receivable attributable to joint interest partners in oil and gas properties. These are billings to the non-operators associated with the operation of wells and are based on those owners' working interests in the wells.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember" xlink:label="loc_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35" xlink:to="lab_lpi_AccountsReceivableOilAndGasJointInterestBillingReceivablesMember_CBAAEED3F9342DACBE4BBBE85FB98B35" xlink:type="arc" />
    <link:label id="lab_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C_terseLabel_en-US" xlink:label="lab_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchased Oil Sales</link:label>
    <link:label id="lab_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C_label_en-US" xlink:label="lab_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchased Oil Sales [Member]</link:label>
    <link:label id="lab_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C_documentation_en-US" xlink:label="lab_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchased Oil Sales [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PurchasedOilSalesMember" xlink:label="loc_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C" xlink:to="lab_lpi_PurchasedOilSalesMember_B61A4FDC57492EAB4F84BBE85FB99F6C" xlink:type="arc" />
    <link:label id="lab_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1_terseLabel_en-US" xlink:label="lab_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchased Oil and Other Products Sales</link:label>
    <link:label id="lab_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1_label_en-US" xlink:label="lab_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchased Oil and Other Products Sales [Member]</link:label>
    <link:label id="lab_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1_documentation_en-US" xlink:label="lab_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchased Oil and Other Products Sales [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PurchasedOilandOtherProductsSalesMember" xlink:label="loc_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1" xlink:to="lab_lpi_PurchasedOilandOtherProductsSalesMember_1B2C639A09EA564C4AD7BBE85FB989E1" xlink:type="arc" />
    <link:label id="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_9AF2E6AE6192261E7655BBE85FB94FB8_terseLabel_en-US" xlink:label="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_9AF2E6AE6192261E7655BBE85FB94FB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner Type [Axis]</link:label>
    <link:label id="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_9AF2E6AE6192261E7655BBE85FB94FB8_label_en-US" xlink:label="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_9AF2E6AE6192261E7655BBE85FB94FB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PartnerTypeOfPartnersCapitalAccountAxis" xlink:label="loc_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_9AF2E6AE6192261E7655BBE85FB94FB8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_9AF2E6AE6192261E7655BBE85FB94FB8" xlink:to="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_9AF2E6AE6192261E7655BBE85FB94FB8" xlink:type="arc" />
    <link:label id="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_47192F6AD8C3D62D8143BBE85FB9B2AE_label_en-US" xlink:label="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_47192F6AD8C3D62D8143BBE85FB9B2AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Type of Partners' Capital Account, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain" xlink:label="loc_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_47192F6AD8C3D62D8143BBE85FB9B2AE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_47192F6AD8C3D62D8143BBE85FB9B2AE" xlink:to="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_47192F6AD8C3D62D8143BBE85FB9B2AE" xlink:type="arc" />
    <link:label id="lab_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3_terseLabel_en-US" xlink:label="lab_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner One</link:label>
    <link:label id="lab_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3_label_en-US" xlink:label="lab_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner One [Member]</link:label>
    <link:label id="lab_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3_documentation_en-US" xlink:label="lab_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to joint interest partner one.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PartnerOneMember" xlink:label="loc_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3" xlink:to="lab_lpi_PartnerOneMember_47F7DE5545C41C6DD8ABBBE85FB9E8C3" xlink:type="arc" />
    <link:label id="lab_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38_terseLabel_en-US" xlink:label="lab_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner Two</link:label>
    <link:label id="lab_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38_label_en-US" xlink:label="lab_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Two [Member]</link:label>
    <link:label id="lab_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38_documentation_en-US" xlink:label="lab_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to joint interest partner two.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PartnerTwoMember" xlink:label="loc_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38" xlink:to="lab_lpi_PartnerTwoMember_8A7D9BECAD5A257A3394BBE85FB90F38" xlink:type="arc" />
    <link:label id="lab_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739_terseLabel_en-US" xlink:label="lab_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner Three</link:label>
    <link:label id="lab_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739_label_en-US" xlink:label="lab_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Three [Member]</link:label>
    <link:label id="lab_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739_documentation_en-US" xlink:label="lab_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to joint interest partner three.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PartnerThreeMember" xlink:label="loc_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739" xlink:to="lab_lpi_PartnerThreeMember_0D7A959DFE3676F2A1B7BBE85FB9E739" xlink:type="arc" />
    <link:label id="lab_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3_terseLabel_en-US" xlink:label="lab_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partner Four</link:label>
    <link:label id="lab_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3_label_en-US" xlink:label="lab_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partner Four [Member]</link:label>
    <link:label id="lab_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3_documentation_en-US" xlink:label="lab_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to joint interest partner four</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PartnerFourMember" xlink:label="loc_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3" xlink:to="lab_lpi_PartnerFourMember_F0B745BE1B4C5573B780BBE85FB9CEF3" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7716E93943547A033A9BBE85FB906EF_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7716E93943547A033A9BBE85FB906EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7716E93943547A033A9BBE85FB906EF_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7716E93943547A033A9BBE85FB906EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7716E93943547A033A9BBE85FB906EF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7716E93943547A033A9BBE85FB906EF" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7716E93943547A033A9BBE85FB906EF" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyDomain_214D654A436928C418BBBBE85FB9FA35_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_214D654A436928C418BBBBE85FB9FA35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_214D654A436928C418BBBBE85FB9FA35_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_214D654A436928C418BBBBE85FB9FA35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_214D654A436928C418BBBBE85FB9FA35" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain_214D654A436928C418BBBBE85FB9FA35" xlink:to="lab_us-gaap_RelatedPartyDomain_214D654A436928C418BBBBE85FB9FA35" xlink:type="arc" />
    <link:label id="lab_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA_terseLabel_en-US" xlink:label="lab_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliates of Taga Resources</link:label>
    <link:label id="lab_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA_label_en-US" xlink:label="lab_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AffiliatesOfTargaResouces [Member]</link:label>
    <link:label id="lab_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA_documentation_en-US" xlink:label="lab_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Affiliates of Targa Resources, Inc. ("Targa")</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_AffiliatesOfTargaResoucesMember" xlink:label="loc_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA" xlink:to="lab_lpi_AffiliatesOfTargaResoucesMember_02D19D6CED704F806424BBE85FB933DA" xlink:type="arc" />
    <link:label id="lab_us-gaap_MajorCustomersAxis_449CBC509F797F673E5DBBE85FB9E4FA_terseLabel_en-US" xlink:label="lab_us-gaap_MajorCustomersAxis_449CBC509F797F673E5DBBE85FB9E4FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major Customers [Axis]</link:label>
    <link:label id="lab_us-gaap_MajorCustomersAxis_449CBC509F797F673E5DBBE85FB9E4FA_label_en-US" xlink:label="lab_us-gaap_MajorCustomersAxis_449CBC509F797F673E5DBBE85FB9E4FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MajorCustomersAxis" xlink:label="loc_us-gaap_MajorCustomersAxis_449CBC509F797F673E5DBBE85FB9E4FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MajorCustomersAxis_449CBC509F797F673E5DBBE85FB9E4FA" xlink:to="lab_us-gaap_MajorCustomersAxis_449CBC509F797F673E5DBBE85FB9E4FA" xlink:type="arc" />
    <link:label id="lab_us-gaap_NameOfMajorCustomerDomain_792DA831BC39A3A670E9BBE85FB96A21_terseLabel_en-US" xlink:label="lab_us-gaap_NameOfMajorCustomerDomain_792DA831BC39A3A670E9BBE85FB96A21" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Major Customer [Domain]</link:label>
    <link:label id="lab_us-gaap_NameOfMajorCustomerDomain_792DA831BC39A3A670E9BBE85FB96A21_label_en-US" xlink:label="lab_us-gaap_NameOfMajorCustomerDomain_792DA831BC39A3A670E9BBE85FB96A21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NameOfMajorCustomerDomain" xlink:label="loc_us-gaap_NameOfMajorCustomerDomain_792DA831BC39A3A670E9BBE85FB96A21" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NameOfMajorCustomerDomain_792DA831BC39A3A670E9BBE85FB96A21" xlink:to="lab_us-gaap_NameOfMajorCustomerDomain_792DA831BC39A3A670E9BBE85FB96A21" xlink:type="arc" />
    <link:label id="lab_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575_terseLabel_en-US" xlink:label="lab_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer one</link:label>
    <link:label id="lab_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575_label_en-US" xlink:label="lab_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer One [Member]</link:label>
    <link:label id="lab_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575_documentation_en-US" xlink:label="lab_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to customer one.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CustomerOneMember" xlink:label="loc_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575" xlink:to="lab_lpi_CustomerOneMember_C110DC500371ABDCFFC7BBE85FB99575" xlink:type="arc" />
    <link:label id="lab_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A_terseLabel_en-US" xlink:label="lab_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer two</link:label>
    <link:label id="lab_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A_label_en-US" xlink:label="lab_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Two [Member]</link:label>
    <link:label id="lab_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A_documentation_en-US" xlink:label="lab_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to customer two.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CustomerTwoMember" xlink:label="loc_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A" xlink:to="lab_lpi_CustomerTwoMember_17F70117AA5F2B46D42EBBE85FB9FF9A" xlink:type="arc" />
    <link:label id="lab_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2_terseLabel_en-US" xlink:label="lab_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer three</link:label>
    <link:label id="lab_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2_label_en-US" xlink:label="lab_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Three [Member]</link:label>
    <link:label id="lab_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2_documentation_en-US" xlink:label="lab_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to customer three.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CustomerThreeMember" xlink:label="loc_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2" xlink:to="lab_lpi_CustomerThreeMember_F08BFD0BC1C91AEEEAC7BBE85FB993B2" xlink:type="arc" />
    <link:label id="lab_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875_terseLabel_en-US" xlink:label="lab_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer four</link:label>
    <link:label id="lab_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875_label_en-US" xlink:label="lab_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Four [Member]</link:label>
    <link:label id="lab_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875_documentation_en-US" xlink:label="lab_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to customer four.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CustomerFourMember" xlink:label="loc_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875" xlink:to="lab_lpi_CustomerFourMember_8B374CCD417C9DBD046DBBE85FB99875" xlink:type="arc" />
    <link:label id="lab_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512_terseLabel_en-US" xlink:label="lab_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Customer five</link:label>
    <link:label id="lab_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512_label_en-US" xlink:label="lab_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer five [Member]</link:label>
    <link:label id="lab_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512_documentation_en-US" xlink:label="lab_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Customer Five</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CustomerfiveMember" xlink:label="loc_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512" xlink:to="lab_lpi_CustomerfiveMember_75ED833AD66F92790FA9BBE85FB90512" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConcentrationRiskLineItems_CD4D72A368ECA972A3B7BBE85FB9926B_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskLineItems_CD4D72A368ECA972A3B7BBE85FB9926B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit risk</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskLineItems_CD4D72A368ECA972A3B7BBE85FB9926B_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskLineItems_CD4D72A368ECA972A3B7BBE85FB9926B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ConcentrationRiskLineItems" xlink:label="loc_us-gaap_ConcentrationRiskLineItems_CD4D72A368ECA972A3B7BBE85FB9926B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskLineItems_CD4D72A368ECA972A3B7BBE85FB9926B" xlink:to="lab_us-gaap_ConcentrationRiskLineItems_CD4D72A368ECA972A3B7BBE85FB9926B" xlink:type="arc" />
    <link:label id="lab_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639_terseLabel_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of major customers</link:label>
    <link:label id="lab_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639_label_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Number of Major Customers</link:label>
    <link:label id="lab_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639_documentation_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the number of major customers who are responsible for concentration of risk.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_ConcentrationRiskNumberOfMajorCustomers" xlink:label="loc_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639" xlink:to="lab_lpi_ConcentrationRiskNumberOfMajorCustomers_70E2DF0C5E088BE3D6EFBBE85FB9C639" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_6799C43F26D1F6DFB3DFBBE85FB94525_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1_6799C43F26D1F6DFB3DFBBE85FB94525" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration risk (as a percent)</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_6799C43F26D1F6DFB3DFBBE85FB94525_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1_6799C43F26D1F6DFB3DFBBE85FB94525" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1_6799C43F26D1F6DFB3DFBBE85FB94525" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskPercentage1_6799C43F26D1F6DFB3DFBBE85FB94525" xlink:to="lab_us-gaap_ConcentrationRiskPercentage1_6799C43F26D1F6DFB3DFBBE85FB94525" xlink:type="arc" />
    <link:label id="lab_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167_terseLabel_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk, Number of Additional Major Customers Over Sales Concentration</link:label>
    <link:label id="lab_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167_label_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Number of Additional Major Customers Over Sales Concentration</link:label>
    <link:label id="lab_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167_documentation_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of additional major customers included in this disclosure of concentration risk, not included in the disclosure of customer concentration risk for total sales.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration" xlink:label="loc_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167" xlink:to="lab_lpi_ConcentrationRiskNumberofAdditionalMajorCustomersOverSalesConcentration_BE1B35724644F73105DFBC24876BE167" xlink:type="arc" />
    <link:label id="lab_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C_terseLabel_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk, Number of Joint Interest Partners</link:label>
    <link:label id="lab_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C_label_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Number of Joint Interest Partners</link:label>
    <link:label id="lab_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C_documentation_en-US" xlink:label="lab_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of joint interest partners for which concentration risk is disclosed</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_ConcentrationRiskNumberofJointInterestPartners" xlink:label="loc_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C" xlink:to="lab_lpi_ConcentrationRiskNumberofJointInterestPartners_B893A18519E2317BB0F9BBE85FB9057C" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashUninsuredAmount_F53E4B50877113D21D06BBE85FB95C49_terseLabel_en-US" xlink:label="lab_us-gaap_CashUninsuredAmount_F53E4B50877113D21D06BBE85FB95C49" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash balances exceeded by balance insured by FDIC</link:label>
    <link:label id="lab_us-gaap_CashUninsuredAmount_F53E4B50877113D21D06BBE85FB95C49_label_en-US" xlink:label="lab_us-gaap_CashUninsuredAmount_F53E4B50877113D21D06BBE85FB95C49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Uninsured Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CashUninsuredAmount" xlink:label="loc_us-gaap_CashUninsuredAmount_F53E4B50877113D21D06BBE85FB95C49" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashUninsuredAmount_F53E4B50877113D21D06BBE85FB95C49" xlink:to="lab_us-gaap_CashUninsuredAmount_F53E4B50877113D21D06BBE85FB95C49" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_C6196AF5E1584913645DBBE85FB93FDA_verboseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract_C6196AF5E1584913645DBBE85FB93FDA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_C6196AF5E1584913645DBBE85FB93FDA_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract_C6196AF5E1584913645DBBE85FB93FDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_C6196AF5E1584913645DBBE85FB93FDA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_C6196AF5E1584913645DBBE85FB93FDA" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract_C6196AF5E1584913645DBBE85FB93FDA" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueFromRelatedParties_95300D4E75BDEE313395BBE85FB9D3B3_verboseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromRelatedParties_95300D4E75BDEE313395BBE85FB9D3B3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net oil and natural gas sales</link:label>
    <link:label id="lab_us-gaap_RevenueFromRelatedParties_95300D4E75BDEE313395BBE85FB9D3B3_label_en-US" xlink:label="lab_us-gaap_RevenueFromRelatedParties_95300D4E75BDEE313395BBE85FB9D3B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Related Parties</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="loc_us-gaap_RevenueFromRelatedParties_95300D4E75BDEE313395BBE85FB9D3B3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromRelatedParties_95300D4E75BDEE313395BBE85FB9D3B3" xlink:to="lab_us-gaap_RevenueFromRelatedParties_95300D4E75BDEE313395BBE85FB9D3B3" xlink:type="arc" />
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    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_DCF6F34E2E4A19D5EE7DC25DC88D645A_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract_DCF6F34E2E4A19D5EE7DC25DC88D645A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_DCF6F34E2E4A19D5EE7DC25DC88D645A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_DCF6F34E2E4A19D5EE7DC25DC88D645A" xlink:to="lab_us-gaap_AccountingPoliciesAbstract_DCF6F34E2E4A19D5EE7DC25DC88D645A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ReceivablesNetCurrentAbstract_0D5C4DC47DF4922FBB72C25DC88DFEDC_verboseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesNetCurrentAbstract_0D5C4DC47DF4922FBB72C25DC88DFEDC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable</link:label>
    <link:label id="lab_us-gaap_ReceivablesNetCurrentAbstract_0D5C4DC47DF4922FBB72C25DC88DFEDC_label_en-US" xlink:label="lab_us-gaap_ReceivablesNetCurrentAbstract_0D5C4DC47DF4922FBB72C25DC88DFEDC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables, Net, Current [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ReceivablesNetCurrentAbstract" xlink:label="loc_us-gaap_ReceivablesNetCurrentAbstract_0D5C4DC47DF4922FBB72C25DC88DFEDC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesNetCurrentAbstract_0D5C4DC47DF4922FBB72C25DC88DFEDC" xlink:to="lab_us-gaap_ReceivablesNetCurrentAbstract_0D5C4DC47DF4922FBB72C25DC88DFEDC" xlink:type="arc" />
    <link:label id="lab_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8_terseLabel_en-US" xlink:label="lab_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term of accounts receivable to be considered as past due (in days)</link:label>
    <link:label id="lab_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8_label_en-US" xlink:label="lab_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Threshold Period Past Due for Accounts Receivable</link:label>
    <link:label id="lab_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8_documentation_en-US" xlink:label="lab_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Threshold Period Past Due for Accounts Receivable</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_ThresholdPeriodPastDueforAccountsReceivable" xlink:label="loc_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8" xlink:to="lab_lpi_ThresholdPeriodPastDueforAccountsReceivable_B6C2C43655313DF675D3C25DC88D17E8" xlink:type="arc" />
    <link:label id="lab_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E_terseLabel_en-US" xlink:label="lab_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term of past due balances to be reviewed individually for collectability (in days)</link:label>
    <link:label id="lab_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E_label_en-US" xlink:label="lab_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Threshold Period Past Due for Review of Accounts Receivable</link:label>
    <link:label id="lab_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E_documentation_en-US" xlink:label="lab_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Threshold Period Past Due for Review of Accounts Receivable</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable" xlink:label="loc_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E" xlink:to="lab_lpi_ThresholdPeriodPastDueforReviewofAccountsReceivable_CF83C55573185F09F4FBC25DC88DC70E" xlink:type="arc" />
    <link:label id="lab_lpi_AccountsReceivableOilAndGasSalesNetCurrent_A532BAD098A765E440EFC25DC88DF5A6_terseLabel_en-US" xlink:label="lab_lpi_AccountsReceivableOilAndGasSalesNetCurrent_A532BAD098A765E440EFC25DC88DF5A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Oil and natural gas sales</link:label>
    <link:label id="lab_lpi_AccountsReceivableOilAndGasSalesNetCurrent_A532BAD098A765E440EFC25DC88DF5A6_label_en-US" xlink:label="lab_lpi_AccountsReceivableOilAndGasSalesNetCurrent_A532BAD098A765E440EFC25DC88DF5A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable Oil and Gas Sales Net Current</link:label>
    <link:label id="lab_lpi_AccountsReceivableOilAndGasSalesNetCurrent_A532BAD098A765E440EFC25DC88DF5A6_documentation_en-US" xlink:label="lab_lpi_AccountsReceivableOilAndGasSalesNetCurrent_A532BAD098A765E440EFC25DC88DF5A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for oil and gas sales receivable that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_AccountsReceivableOilAndGasSalesNetCurrent" xlink:label="loc_lpi_AccountsReceivableOilAndGasSalesNetCurrent_A532BAD098A765E440EFC25DC88DF5A6" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OilAndGasJointInterestBillingReceivablesCurrent_D3BD0E535A5644D2C264C25DC88DAC00_terseLabel_en-US" xlink:label="lab_us-gaap_OilAndGasJointInterestBillingReceivablesCurrent_D3BD0E535A5644D2C264C25DC88DAC00" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint operations, net</link:label>
    <link:label id="lab_us-gaap_OilAndGasJointInterestBillingReceivablesCurrent_D3BD0E535A5644D2C264C25DC88DAC00_label_en-US" xlink:label="lab_us-gaap_OilAndGasJointInterestBillingReceivablesCurrent_D3BD0E535A5644D2C264C25DC88DAC00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Oil and Gas Joint Interest Billing Receivables, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OilAndGasJointInterestBillingReceivablesCurrent" xlink:label="loc_us-gaap_OilAndGasJointInterestBillingReceivablesCurrent_D3BD0E535A5644D2C264C25DC88DAC00" xlink:type="locator" />
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    <link:label id="lab_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA_terseLabel_en-US" xlink:label="lab_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchased oil and other product sales</link:label>
    <link:label id="lab_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA_label_en-US" xlink:label="lab_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Purchased Oil and Other Product Sales, Current</link:label>
    <link:label id="lab_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA_documentation_en-US" xlink:label="lab_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for purchased oil and other products that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent" xlink:label="loc_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA" xlink:to="lab_lpi_AccountsReceivablePurchasedOilandOtherProductSalesCurrent_08BED9C48EEF81BCCD14C25DC88D1EDA" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherReceivablesNetCurrent_9369FD57C87B7BE6BD09C25DC88D448C_terseLabel_en-US" xlink:label="lab_us-gaap_OtherReceivablesNetCurrent_9369FD57C87B7BE6BD09C25DC88D448C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherReceivablesNetCurrent_9369FD57C87B7BE6BD09C25DC88D448C_label_en-US" xlink:label="lab_us-gaap_OtherReceivablesNetCurrent_9369FD57C87B7BE6BD09C25DC88D448C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Receivables, Net, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherReceivablesNetCurrent" xlink:label="loc_us-gaap_OtherReceivablesNetCurrent_9369FD57C87B7BE6BD09C25DC88D448C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherReceivablesNetCurrent_9369FD57C87B7BE6BD09C25DC88D448C" xlink:to="lab_us-gaap_OtherReceivablesNetCurrent_9369FD57C87B7BE6BD09C25DC88D448C" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsReceivableNetCurrent_C550DFA8976923CBC6D9C25DC88D007C_totalLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableNetCurrent_C550DFA8976923CBC6D9C25DC88D007C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_C550DFA8976923CBC6D9C25DC88D007C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableNetCurrent_C550DFA8976923CBC6D9C25DC88D007C" xlink:to="lab_us-gaap_AccountsReceivableNetCurrent_C550DFA8976923CBC6D9C25DC88D007C" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_BD960B1C909AA591577DC25DC88DBAD5_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_BD960B1C909AA591577DC25DC88DBAD5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for doubtful accounts of accounts receivable for joint operations</link:label>
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_BD960B1C909AA591577DC25DC88DBAD5_label_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_BD960B1C909AA591577DC25DC88DBAD5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_BD960B1C909AA591577DC25DC88DBAD5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_BD960B1C909AA591577DC25DC88DBAD5" xlink:to="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_BD960B1C909AA591577DC25DC88DBAD5" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherLiabilitiesCurrentAbstract_09C0595F1026B1ED56A0C25DC88DD79A_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesCurrentAbstract_09C0595F1026B1ED56A0C25DC88DD79A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesCurrentAbstract_09C0595F1026B1ED56A0C25DC88DD79A_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesCurrentAbstract_09C0595F1026B1ED56A0C25DC88DD79A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities, Current [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherLiabilitiesCurrentAbstract" xlink:label="loc_us-gaap_OtherLiabilitiesCurrentAbstract_09C0595F1026B1ED56A0C25DC88DD79A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesCurrentAbstract_09C0595F1026B1ED56A0C25DC88DD79A" xlink:to="lab_us-gaap_OtherLiabilitiesCurrentAbstract_09C0595F1026B1ED56A0C25DC88DD79A" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestPayableCurrent_27F84DF17F271117B1A9C25DC88E9199_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrent_27F84DF17F271117B1A9C25DC88E9199" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_InterestPayableCurrent_27F84DF17F271117B1A9C25DC88E9199_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrent_27F84DF17F271117B1A9C25DC88E9199" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Payable, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestPayableCurrent" xlink:label="loc_us-gaap_InterestPayableCurrent_27F84DF17F271117B1A9C25DC88E9199" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrent_27F84DF17F271117B1A9C25DC88E9199" xlink:to="lab_us-gaap_InterestPayableCurrent_27F84DF17F271117B1A9C25DC88E9199" xlink:type="arc" />
    <link:label id="lab_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678_terseLabel_en-US" xlink:label="lab_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease operating expense payable</link:label>
    <link:label id="lab_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678_label_en-US" xlink:label="lab_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Operating Expense Accrual</link:label>
    <link:label id="lab_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678_documentation_en-US" xlink:label="lab_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the carrying value as of the balance sheet date of the obligations incurred through that date and payable for operating lease expense related to property used in oil and gas production.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_LeaseOperatingExpenseAccrual" xlink:label="loc_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678" xlink:to="lab_lpi_LeaseOperatingExpenseAccrual_82EB80B19EB1F552E96FC25DC88E4678" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredCompensationLiabilityCurrent_4D32D37CF8A8C72960C1C25DC88E8062_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationLiabilityCurrent_4D32D37CF8A8C72960C1C25DC88E8062" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued compensation and benefits</link:label>
    <link:label id="lab_us-gaap_DeferredCompensationLiabilityCurrent_4D32D37CF8A8C72960C1C25DC88E8062_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationLiabilityCurrent_4D32D37CF8A8C72960C1C25DC88E8062" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Compensation Liability, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DeferredCompensationLiabilityCurrent" xlink:label="loc_us-gaap_DeferredCompensationLiabilityCurrent_4D32D37CF8A8C72960C1C25DC88E8062" xlink:type="locator" />
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    <link:label id="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_18B04617EDD67533F1BEA28298E4D7E0_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_18B04617EDD67533F1BEA28298E4D7E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation by Category of Item Purchased [Axis]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis" xlink:label="loc_us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis_18B04617EDD67533F1BEA28298E4D7E0" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain" xlink:label="loc_us-gaap_UnconditionalPurchaseObligationCategoryOfGoodsOrServicesAcquiredDomain_6FFB7925527AEEB8ED48A28298E41243" xlink:type="locator" />
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    <link:label id="lab_lpi_DrillingContractsMember_38B982B09B60F333F9E9A28298E42CE1_terseLabel_en-US" xlink:label="lab_lpi_DrillingContractsMember_38B982B09B60F333F9E9A28298E42CE1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Drilling Contracts</link:label>
    <link:label id="lab_lpi_DrillingContractsMember_38B982B09B60F333F9E9A28298E42CE1_label_en-US" xlink:label="lab_lpi_DrillingContractsMember_38B982B09B60F333F9E9A28298E42CE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Drilling Contracts [Member]</link:label>
    <link:label id="lab_lpi_DrillingContractsMember_38B982B09B60F333F9E9A28298E42CE1_documentation_en-US" xlink:label="lab_lpi_DrillingContractsMember_38B982B09B60F333F9E9A28298E42CE1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the commitments under drilling contracts.</link:label>
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    <link:label id="lab_us-gaap_OtherCommitmentsLineItems_E7854B8DB84218466C43A28298E435E9_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsLineItems_E7854B8DB84218466C43A28298E435E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Commitments [Line Items]</link:label>
    <link:label id="lab_us-gaap_OtherCommitmentsLineItems_E7854B8DB84218466C43A28298E435E9_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsLineItems_E7854B8DB84218466C43A28298E435E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitments [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherCommitmentsLineItems" xlink:label="loc_us-gaap_OtherCommitmentsLineItems_E7854B8DB84218466C43A28298E435E9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_WellServiceExpense_FC0006C3CCABD04828E3A28298E458CA_terseLabel_en-US" xlink:label="lab_us-gaap_WellServiceExpense_FC0006C3CCABD04828E3A28298E458CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Drilling rig fees</link:label>
    <link:label id="lab_us-gaap_WellServiceExpense_FC0006C3CCABD04828E3A28298E458CA_label_en-US" xlink:label="lab_us-gaap_WellServiceExpense_FC0006C3CCABD04828E3A28298E458CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Well Service Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_WellServiceExpense" xlink:label="loc_us-gaap_WellServiceExpense_FC0006C3CCABD04828E3A28298E458CA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted_1E27BAE9BB06AB6CB9D3A28298E4AC07_terseLabel_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted_1E27BAE9BB06AB6CB9D3A28298E4AC07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future commitments</link:label>
    <link:label id="lab_us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted_1E27BAE9BB06AB6CB9D3A28298E4AC07_label_en-US" xlink:label="lab_us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted_1E27BAE9BB06AB6CB9D3A28298E4AC07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase Commitment, Remaining Minimum Amount Committed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted" xlink:label="loc_us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted_1E27BAE9BB06AB6CB9D3A28298E4AC07" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_E296BA6487BDB93C7C5CA28298E5EDA2_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_E296BA6487BDB93C7C5CA28298E5EDA2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease commitments</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_E296BA6487BDB93C7C5CA28298E5EDA2_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_E296BA6487BDB93C7C5CA28298E5EDA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_E296BA6487BDB93C7C5CA28298E5EDA2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_E296BA6487BDB93C7C5CA28298E5EDA2" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_E296BA6487BDB93C7C5CA28298E5EDA2" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_22007AD34C2245472951A28298E5AFD8_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_22007AD34C2245472951A28298E5AFD8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2015</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_22007AD34C2245472951A28298E5AFD8_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_22007AD34C2245472951A28298E5AFD8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2C597A25E9E39EE7A9CBA28298E5E224_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2C597A25E9E39EE7A9CBA28298E5E224" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2016</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_2C597A25E9E39EE7A9CBA28298E5E224" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1E1B1E05E2D1B75F3EBFA28298E5EF67_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1E1B1E05E2D1B75F3EBFA28298E5EF67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2017</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1E1B1E05E2D1B75F3EBFA28298E5EF67" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1E1B1E05E2D1B75F3EBFA28298E5EF67" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1E1B1E05E2D1B75F3EBFA28298E5EF67" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_0B518966727090F50BB9A28298E525F5_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_0B518966727090F50BB9A28298E525F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_0B518966727090F50BB9A28298E525F5" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_15C2FCF318E58BB5413AA28298E51E7E_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_15C2FCF318E58BB5413AA28298E51E7E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_15C2FCF318E58BB5413AA28298E51E7E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_FFE2D0BFFF196D632981A28298E52D07_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_FFE2D0BFFF196D632981A28298E52D07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due Thereafter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_FFE2D0BFFF196D632981A28298E52D07" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_FFE2D0BFFF196D632981A28298E52D07" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_FFE2D0BFFF196D632981A28298E52D07" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_45FF64F61B21C17078DEA28298E596AC_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_45FF64F61B21C17078DEA28298E596AC" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_45FF64F61B21C17078DEA28298E596AC_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_45FF64F61B21C17078DEA28298E596AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_45FF64F61B21C17078DEA28298E596AC" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseAbstract_A61380F2C1AB720439C8A28298E559AB_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseAbstract_A61380F2C1AB720439C8A28298E559AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rent expense</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseAbstract_A61380F2C1AB720439C8A28298E559AB_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseAbstract_A61380F2C1AB720439C8A28298E559AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense, Net [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesRentExpenseAbstract" xlink:label="loc_us-gaap_OperatingLeasesRentExpenseAbstract_A61380F2C1AB720439C8A28298E559AB" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseNet_3F84442B6EBE40ECB20BA28298E54F89_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseNet_3F84442B6EBE40ECB20BA28298E54F89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rent expense</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseNet_3F84442B6EBE40ECB20BA28298E54F89_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseNet_3F84442B6EBE40ECB20BA28298E54F89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="loc_us-gaap_OperatingLeasesRentExpenseNet_3F84442B6EBE40ECB20BA28298E54F89" xlink:type="locator" />
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    <link:label id="lab_lpi_VariableInterestEntityAbstract_790B44437ADA7CC63EEAA28298CE6D3C_label_en-US" xlink:label="lab_lpi_VariableInterestEntityAbstract_790B44437ADA7CC63EEAA28298CE6D3C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Abstract]</link:label>
    <link:label id="lab_lpi_VariableInterestEntityAbstract_790B44437ADA7CC63EEAA28298CE6D3C_documentation_en-US" xlink:label="lab_lpi_VariableInterestEntityAbstract_790B44437ADA7CC63EEAA28298CE6D3C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Abstract]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VariableInterestEntityAbstract" xlink:label="loc_lpi_VariableInterestEntityAbstract_790B44437ADA7CC63EEAA28298CE6D3C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VariableInterestEntityAbstract_790B44437ADA7CC63EEAA28298CE6D3C" xlink:to="lab_lpi_VariableInterestEntityAbstract_790B44437ADA7CC63EEAA28298CE6D3C" xlink:type="arc" />
    <link:label id="lab_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15_terseLabel_en-US" xlink:label="lab_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity</link:label>
    <link:label id="lab_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15_label_en-US" xlink:label="lab_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Text Block]</link:label>
    <link:label id="lab_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15_documentation_en-US" xlink:label="lab_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Text Block]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VariableInterestEntityTextBlock" xlink:label="loc_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15" xlink:to="lab_lpi_VariableInterestEntityTextBlock_DCA3F2AF52C089309ADFA28298CE7A15" xlink:type="arc" />
    <link:label id="lab_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2_verboseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Reorganization Grant Date</link:label>
    <link:label id="lab_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2_label_en-US" xlink:label="lab_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative One, Reorganization Grant Date [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative One, Reorganization Grant Date [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeOneReorganizationGrantDateMember" xlink:label="loc_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2" xlink:to="lab_lpi_VestingAlternativeOneReorganizationGrantDateMember_0443EA6D7C33DEB66A80A2829977BDD2" xlink:type="arc" />
    <link:label id="lab_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annually After Reorganization Grant Date</link:label>
    <link:label id="lab_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF_label_en-US" xlink:label="lab_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative One, Annually After Reorganization Grant Date [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative One, Annually After Reorganization Grant Date [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember" xlink:label="loc_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF" xlink:to="lab_lpi_VestingAlternativeOneAnnuallyAfterReorganizationGrantDateMember_3A991E35EF7A8D88B41FA28299771EAF" xlink:type="arc" />
    <link:label id="lab_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">One Year From Grant Date</link:label>
    <link:label id="lab_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4_label_en-US" xlink:label="lab_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative Two, One Year From Grant Date [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative Two, One Year From Grant Date [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeTwoOneYearFromGrantDateMember" xlink:label="loc_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4" xlink:to="lab_lpi_VestingAlternativeTwoOneYearFromGrantDateMember_0CBB6654319CFE7EFB78A2829977BCF4" xlink:type="arc" />
    <link:label id="lab_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Two Years from Grant Date</link:label>
    <link:label id="lab_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850_label_en-US" xlink:label="lab_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative Two, Two Years From Grant Date [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative Two, Two Years From Grant Date [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember" xlink:label="loc_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850" xlink:to="lab_lpi_VestingAlternativeTwoTwoYearsFromGrantDateMember_B69268BDE93A4F7616ACA28299770850" xlink:type="arc" />
    <link:label id="lab_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Three Years from Grant Date</link:label>
    <link:label id="lab_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131_label_en-US" xlink:label="lab_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative Two, Three Years From Grant Date [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative Two, Three Years From Grant Date [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember" xlink:label="loc_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131" xlink:to="lab_lpi_VestingAlternativeTwoThreeYearsFromGrantDateMember_2E59F7E54503FCC90297A28299773131" xlink:type="arc" />
    <link:label id="lab_lpi_VestingAlternativeThreeVestingInTwoYearsMember_31865079D8A3FEA05018A282997757B0_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeThreeVestingInTwoYearsMember_31865079D8A3FEA05018A282997757B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting in two years</link:label>
    <link:label id="lab_lpi_VestingAlternativeThreeVestingInTwoYearsMember_31865079D8A3FEA05018A282997757B0_label_en-US" xlink:label="lab_lpi_VestingAlternativeThreeVestingInTwoYearsMember_31865079D8A3FEA05018A282997757B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative Three, Vesting In Two Years [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeThreeVestingInTwoYearsMember_31865079D8A3FEA05018A282997757B0_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeThreeVestingInTwoYearsMember_31865079D8A3FEA05018A282997757B0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative Three, Vesting In Two Years [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeThreeVestingInTwoYearsMember" xlink:label="loc_lpi_VestingAlternativeThreeVestingInTwoYearsMember_31865079D8A3FEA05018A282997757B0" xlink:type="locator" />
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    <link:label id="lab_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting in three years</link:label>
    <link:label id="lab_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703_label_en-US" xlink:label="lab_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative Three, Vesting In Three Years [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative Three, Vesting In Three Years [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeThreeVestingInThreeYearsMember" xlink:label="loc_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703" xlink:to="lab_lpi_VestingAlternativeThreeVestingInThreeYearsMember_295339F2A0F1B32FDCEEA2829977F703" xlink:type="arc" />
    <link:label id="lab_lpi_VestingAlternativeFourOneYearFromGrantDateMember_756258FC9D946BB66FA4A28299789162_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeFourOneYearFromGrantDateMember_756258FC9D946BB66FA4A28299789162" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting one year from grant date</link:label>
    <link:label id="lab_lpi_VestingAlternativeFourOneYearFromGrantDateMember_756258FC9D946BB66FA4A28299789162_label_en-US" xlink:label="lab_lpi_VestingAlternativeFourOneYearFromGrantDateMember_756258FC9D946BB66FA4A28299789162" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative Four, One Year From Grant Date [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeFourOneYearFromGrantDateMember_756258FC9D946BB66FA4A28299789162_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeFourOneYearFromGrantDateMember_756258FC9D946BB66FA4A28299789162" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative Four, One Year From Grant Date [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeFourOneYearFromGrantDateMember" xlink:label="loc_lpi_VestingAlternativeFourOneYearFromGrantDateMember_756258FC9D946BB66FA4A28299789162" xlink:type="locator" />
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    <link:label id="lab_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD_terseLabel_en-US" xlink:label="lab_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting three years from grant date</link:label>
    <link:label id="lab_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD_label_en-US" xlink:label="lab_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Alternative Five, 3 Years From Grant Date [Member]</link:label>
    <link:label id="lab_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD_documentation_en-US" xlink:label="lab_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vesting Alternative Five, 3 Years From Grant Date [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_VestingAlternativeFive3YearsFromGrantDateMember" xlink:label="loc_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD" xlink:to="lab_lpi_VestingAlternativeFive3YearsFromGrantDateMember_7FC23DB9B2C53C615FDCA2829978F3FD" xlink:type="arc" />
    <link:label id="lab_us-gaap_PlanNameAxis_958874EA35B135783F32A28299781A1A_terseLabel_en-US" xlink:label="lab_us-gaap_PlanNameAxis_958874EA35B135783F32A28299781A1A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:label id="lab_us-gaap_PlanNameAxis_958874EA35B135783F32A28299781A1A_label_en-US" xlink:label="lab_us-gaap_PlanNameAxis_958874EA35B135783F32A28299781A1A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="loc_us-gaap_PlanNameAxis_958874EA35B135783F32A28299781A1A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PlanNameAxis_958874EA35B135783F32A28299781A1A" xlink:to="lab_us-gaap_PlanNameAxis_958874EA35B135783F32A28299781A1A" xlink:type="arc" />
    <link:label id="lab_us-gaap_PlanNameDomain_BC1DAF3E1357F8AB6577A2829978BD4F_terseLabel_en-US" xlink:label="lab_us-gaap_PlanNameDomain_BC1DAF3E1357F8AB6577A2829978BD4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan Name [Domain]</link:label>
    <link:label id="lab_us-gaap_PlanNameDomain_BC1DAF3E1357F8AB6577A2829978BD4F_label_en-US" xlink:label="lab_us-gaap_PlanNameDomain_BC1DAF3E1357F8AB6577A2829978BD4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="loc_us-gaap_PlanNameDomain_BC1DAF3E1357F8AB6577A2829978BD4F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PlanNameDomain_BC1DAF3E1357F8AB6577A2829978BD4F" xlink:to="lab_us-gaap_PlanNameDomain_BC1DAF3E1357F8AB6577A2829978BD4F" xlink:type="arc" />
    <link:label id="lab_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A_terseLabel_en-US" xlink:label="lab_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long Term Incentive Plan</link:label>
    <link:label id="lab_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A_label_en-US" xlink:label="lab_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Incentive Plan [Member]</link:label>
    <link:label id="lab_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A_documentation_en-US" xlink:label="lab_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Long-Term Incentive Plan (the LTIP), of the entity.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_LongTermIncentivePlanMember" xlink:label="loc_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A" xlink:to="lab_lpi_LongTermIncentivePlanMember_9923F4D60AD4DD0BB1EDA2829978538A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_BAAEEB48DFABD6DD0EE9A2829978E582_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_BAAEEB48DFABD6DD0EE9A2829978E582" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Requisite service period</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_BAAEEB48DFABD6DD0EE9A2829978E582_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_BAAEEB48DFABD6DD0EE9A2829978E582" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_BAAEEB48DFABD6DD0EE9A2829978E582" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_BAAEEB48DFABD6DD0EE9A2829978E582" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_BAAEEB48DFABD6DD0EE9A2829978E582" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_757BAA8B55D665580851A282997842C8_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_757BAA8B55D665580851A282997842C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation arrangement by share-based payment award, number of shares authorized</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_757BAA8B55D665580851A282997842C8_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_757BAA8B55D665580851A282997842C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_757BAA8B55D665580851A282997842C8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_757BAA8B55D665580851A282997842C8" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_757BAA8B55D665580851A282997842C8" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_F995B47D5C95401E46B6A2829978F814_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_F995B47D5C95401E46B6A2829978F814" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting rights, percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_F995B47D5C95401E46B6A2829978F814" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_F995B47D5C95401E46B6A2829978F814" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_F995B47D5C95401E46B6A2829978F814" xlink:type="arc" />
    <link:label id="lab_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F_terseLabel_en-US" xlink:label="lab_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Officers Affected by plan modification</link:label>
    <link:label id="lab_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F_label_en-US" xlink:label="lab_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number of Officers Affected</link:label>
    <link:label id="lab_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F_documentation_en-US" xlink:label="lab_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number of Officers Affected</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected" xlink:label="loc_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F" xlink:to="lab_lpi_SharebasedCompensationArrangementbySharebasedPaymentAwardPlanModificationNumberofOfficersAffected_9BB213B728F41C7C337CA2829978DE2F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected_30901F2DB2A560BE4DA6A2829978362C_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected_30901F2DB2A560BE4DA6A2829978362C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Employees Affected by plan modification</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected_30901F2DB2A560BE4DA6A2829978362C_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected_30901F2DB2A560BE4DA6A2829978362C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number of Employees Affected</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected_30901F2DB2A560BE4DA6A2829978362C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected_30901F2DB2A560BE4DA6A2829978362C" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected_30901F2DB2A560BE4DA6A2829978362C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_A92821BCFFDFF3DCECCFA28299792A4B_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_A92821BCFFDFF3DCECCFA28299792A4B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incremental Compensation Cost due to plan modification</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_A92821BCFFDFF3DCECCFA28299792A4B_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_A92821BCFFDFF3DCECCFA28299792A4B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_A92821BCFFDFF3DCECCFA28299792A4B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_12239DCF94C632335AA6A28299793289_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_12239DCF94C632335AA6A28299793289" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_12239DCF94C632335AA6A28299793289" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodTwoMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_16281D39012F9CAFCF63A8AB9BE78C5E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_16281D39012F9CAFCF63A8AB9BE78C5E" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodTwoMember_16281D39012F9CAFCF63A8AB9BE78C5E" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_C154D136AA7532249694A8AB9BE7849E_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_C154D136AA7532249694A8AB9BE7849E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period 3</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_C154D136AA7532249694A8AB9BE7849E_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_C154D136AA7532249694A8AB9BE7849E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period Three [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodThreeMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_C154D136AA7532249694A8AB9BE7849E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_C154D136AA7532249694A8AB9BE7849E" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodThreeMember_C154D136AA7532249694A8AB9BE7849E" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_EBD0202A24A9273E6554A8AB9BE7D708_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_EBD0202A24A9273E6554A8AB9BE7D708" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period 4</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_EBD0202A24A9273E6554A8AB9BE7D708_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_EBD0202A24A9273E6554A8AB9BE7D708" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period Four [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodFourMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodFourMember_EBD0202A24A9273E6554A8AB9BE7D708" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodFourMember_EBD0202A24A9273E6554A8AB9BE7D708" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodFourMember_EBD0202A24A9273E6554A8AB9BE7D708" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_5E0FDC1A76E6289D5390A8AB9BE7CEAE_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_5E0FDC1A76E6289D5390A8AB9BE7CEAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period 5</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_5E0FDC1A76E6289D5390A8AB9BE7CEAE_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_5E0FDC1A76E6289D5390A8AB9BE7CEAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Period Five [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodFiveMember" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_5E0FDC1A76E6289D5390A8AB9BE7CEAE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_5E0FDC1A76E6289D5390A8AB9BE7CEAE" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodFiveMember_5E0FDC1A76E6289D5390A8AB9BE7CEAE" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentAxis_86C63BB18FA3867AC68FA8AB9BE7BA0A_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_86C63BB18FA3867AC68FA8AB9BE7BA0A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_86C63BB18FA3867AC68FA8AB9BE7BA0A_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_86C63BB18FA3867AC68FA8AB9BE7BA0A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_86C63BB18FA3867AC68FA8AB9BE7BA0A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis_86C63BB18FA3867AC68FA8AB9BE7BA0A" xlink:to="lab_us-gaap_DebtInstrumentAxis_86C63BB18FA3867AC68FA8AB9BE7BA0A" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_806125CE0A2D1FD5B3C7A8AB9BE73588_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_806125CE0A2D1FD5B3C7A8AB9BE73588" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_806125CE0A2D1FD5B3C7A8AB9BE73588_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_806125CE0A2D1FD5B3C7A8AB9BE73588" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_806125CE0A2D1FD5B3C7A8AB9BE73588" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_806125CE0A2D1FD5B3C7A8AB9BE73588" xlink:to="lab_us-gaap_DebtInstrumentNameDomain_806125CE0A2D1FD5B3C7A8AB9BE73588" xlink:type="arc" />
    <link:label id="lab_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F_terseLabel_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">January 2011</link:label>
    <link:label id="lab_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F_label_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes 9.5 Percent Issued January 2011 [Member]</link:label>
    <link:label id="lab_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F_documentation_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to the Senior Notes which were issued in January 2011.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SeniorNotes9.5PercentIssuedJanuary2011Member" xlink:label="loc_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F" xlink:to="lab_lpi_SeniorNotes9.5PercentIssuedJanuary2011Member_A79B921610E4BD9DFBB4A8AB9BE8868F" xlink:type="arc" />
    <link:label id="lab_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8_terseLabel_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">October 2011</link:label>
    <link:label id="lab_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8_label_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes 9.5 Percent Issued October 2011 [Member]</link:label>
    <link:label id="lab_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8_documentation_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to the Senior Notes which were issued in October 2011.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SeniorNotes9.5PercentIssuedOctober2011Member" xlink:label="loc_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8" xlink:to="lab_lpi_SeniorNotes9.5PercentIssuedOctober2011Member_5C438F32C7CCA07C7C2CA8AB9BE860E8" xlink:type="arc" />
    <link:label id="lab_lpi_SeniorNotes9.5PercentDue2019Member_3BEF4DAF66C544A0855BA8AB9BE8A615_terseLabel_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentDue2019Member_3BEF4DAF66C544A0855BA8AB9BE8A615" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019 Notes</link:label>
    <link:label id="lab_lpi_SeniorNotes9.5PercentDue2019Member_3BEF4DAF66C544A0855BA8AB9BE8A615_label_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentDue2019Member_3BEF4DAF66C544A0855BA8AB9BE8A615" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes 9.5 Percent Due 2019 [Member]</link:label>
    <link:label id="lab_lpi_SeniorNotes9.5PercentDue2019Member_3BEF4DAF66C544A0855BA8AB9BE8A615_documentation_en-US" xlink:label="lab_lpi_SeniorNotes9.5PercentDue2019Member_3BEF4DAF66C544A0855BA8AB9BE8A615" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Notes 9.5 Percent Due 2019 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SeniorNotes9.5PercentDue2019Member" xlink:label="loc_lpi_SeniorNotes9.5PercentDue2019Member_3BEF4DAF66C544A0855BA8AB9BE8A615" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LetterOfCreditMember_4D5130749C6D0214F09FA8AB9BE89356_terseLabel_en-US" xlink:label="lab_us-gaap_LetterOfCreditMember_4D5130749C6D0214F09FA8AB9BE89356" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Letters of credit</link:label>
    <link:label id="lab_us-gaap_LetterOfCreditMember_4D5130749C6D0214F09FA8AB9BE89356_label_en-US" xlink:label="lab_us-gaap_LetterOfCreditMember_4D5130749C6D0214F09FA8AB9BE89356" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Letter of Credit [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LetterOfCreditMember" xlink:label="loc_us-gaap_LetterOfCreditMember_4D5130749C6D0214F09FA8AB9BE89356" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LetterOfCreditMember_4D5130749C6D0214F09FA8AB9BE89356" xlink:to="lab_us-gaap_LetterOfCreditMember_4D5130749C6D0214F09FA8AB9BE89356" xlink:type="arc" />
    <link:label id="lab_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444_terseLabel_en-US" xlink:label="lab_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">May 2022 Notes</link:label>
    <link:label id="lab_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444_label_en-US" xlink:label="lab_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes Seven Point Three Seven Five Percent Due Two Thousand Twenty Two [Member]</link:label>
    <link:label id="lab_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444_documentation_en-US" xlink:label="lab_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the senior notes with an interest rate of 7.375 percent, due in 2022.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember" xlink:label="loc_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444" xlink:to="lab_lpi_SeniorNotesSevenPointThreeSevenFivePercentDueTwoThousandTwentyTwoMember_66065AAEA3BC91F0540DA8AB9BE83444" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditMember_DE92A09511508B3CA446A8AB9BE804EA_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_DE92A09511508B3CA446A8AB9BE804EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_DE92A09511508B3CA446A8AB9BE804EA_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_DE92A09511508B3CA446A8AB9BE804EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_DE92A09511508B3CA446A8AB9BE804EA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditMember_DE92A09511508B3CA446A8AB9BE804EA" xlink:to="lab_us-gaap_LineOfCreditMember_DE92A09511508B3CA446A8AB9BE804EA" xlink:type="arc" />
    <link:label id="lab_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499_terseLabel_en-US" xlink:label="lab_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Secured Credit Facility</link:label>
    <link:label id="lab_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499_label_en-US" xlink:label="lab_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Credit Facility [Member]</link:label>
    <link:label id="lab_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499_documentation_en-US" xlink:label="lab_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Senior Secured Credit Facility entered into by the entity.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SeniorSecuredCreditFacilityMember" xlink:label="loc_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499" xlink:to="lab_lpi_SeniorSecuredCreditFacilityMember_89905EEDAD5CD7FB2521A8AB9BE80499" xlink:type="arc" />
    <link:label id="lab_lpi_FourthAmendedandRestatedCreditAgreementMember_9EDC8798F2A583E77881A8AB9BE8684E_terseLabel_en-US" xlink:label="lab_lpi_FourthAmendedandRestatedCreditAgreementMember_9EDC8798F2A583E77881A8AB9BE8684E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fourth Amended and Restated Credit Agreement</link:label>
    <link:label id="lab_lpi_FourthAmendedandRestatedCreditAgreementMember_9EDC8798F2A583E77881A8AB9BE8684E_label_en-US" xlink:label="lab_lpi_FourthAmendedandRestatedCreditAgreementMember_9EDC8798F2A583E77881A8AB9BE8684E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fourth Amended and Restated Credit Agreement [Member]</link:label>
    <link:label id="lab_lpi_FourthAmendedandRestatedCreditAgreementMember_9EDC8798F2A583E77881A8AB9BE8684E_documentation_en-US" xlink:label="lab_lpi_FourthAmendedandRestatedCreditAgreementMember_9EDC8798F2A583E77881A8AB9BE8684E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fourth Amended and Restated Credit Agreement [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_FourthAmendedandRestatedCreditAgreementMember" xlink:label="loc_lpi_FourthAmendedandRestatedCreditAgreementMember_9EDC8798F2A583E77881A8AB9BE8684E" xlink:type="locator" />
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    <link:label id="lab_lpi_SeniorNotes7.375PercentDue2022Member_5270697B45676403D237A8AB9BE8CD12_label_en-US" xlink:label="lab_lpi_SeniorNotes7.375PercentDue2022Member_5270697B45676403D237A8AB9BE8CD12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes 7.375 Percent Due 2022 [Member]</link:label>
    <link:label id="lab_lpi_SeniorNotes7.375PercentDue2022Member_5270697B45676403D237A8AB9BE8CD12_documentation_en-US" xlink:label="lab_lpi_SeniorNotes7.375PercentDue2022Member_5270697B45676403D237A8AB9BE8CD12" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the senior notes with an interest rate of 7.375 percent, due in 2022.</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentLineItems_E70B7B8BAE4EFEC1FD2EA8AB9BE8115B_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_E70B7B8BAE4EFEC1FD2EA8AB9BE8115B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_E70B7B8BAE4EFEC1FD2EA8AB9BE8115B_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_E70B7B8BAE4EFEC1FD2EA8AB9BE8115B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
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    <link:label id="lab_us-gaap_InterestExpenseDebt_EBECCFC42E62064CE668A8AB9BE955B6_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt_EBECCFC42E62064CE668A8AB9BE955B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash payments for interest</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebt_EBECCFC42E62064CE668A8AB9BE955B6_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt_EBECCFC42E62064CE668A8AB9BE955B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="loc_us-gaap_InterestExpenseDebt_EBECCFC42E62064CE668A8AB9BE955B6" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_5F56A0F8DA808B9C7498A8AB9BE980D1_verboseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts_5F56A0F8DA808B9C7498A8AB9BE980D1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization of debt issuance costs and other adjustments</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts_5F56A0F8DA808B9C7498A8AB9BE980D1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts_5F56A0F8DA808B9C7498A8AB9BE980D1" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts_5F56A0F8DA808B9C7498A8AB9BE980D1" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_73573EE3E41736BAA3CAA8AB9BE92CCC_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_73573EE3E41736BAA3CAA8AB9BE92CCC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in accrued interest</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_73573EE3E41736BAA3CAA8AB9BE92CCC_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_73573EE3E41736BAA3CAA8AB9BE92CCC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Interest Payable, Net</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestCostsIncurred" xlink:label="loc_us-gaap_InterestCostsIncurred_E6F6D1CDD3BBA436F04BA8AB9BE9A488" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InterestCostsCapitalized_6C7BC25605A3DEC9C9BAA8AB9BE9AE3D_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_InterestCostsCapitalized_6C7BC25605A3DEC9C9BAA8AB9BE9AE3D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less capitalized interest</link:label>
    <link:label id="lab_us-gaap_InterestCostsCapitalized_6C7BC25605A3DEC9C9BAA8AB9BE9AE3D_label_en-US" xlink:label="lab_us-gaap_InterestCostsCapitalized_6C7BC25605A3DEC9C9BAA8AB9BE9AE3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Costs Capitalized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="loc_us-gaap_InterestCostsCapitalized_6C7BC25605A3DEC9C9BAA8AB9BE9AE3D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InterestExpense_8B208BCEB8952E8963B5A8AB9BE9B8EC_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_8B208BCEB8952E8963B5A8AB9BE9B8EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_8B208BCEB8952E8963B5A8AB9BE9B8EC_label_en-US" xlink:label="lab_us-gaap_InterestExpense_8B208BCEB8952E8963B5A8AB9BE9B8EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_8B208BCEB8952E8963B5A8AB9BE9B8EC" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_349C4EC14953D682C396A8AB9BE92D7D_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_349C4EC14953D682C396A8AB9BE92D7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate (as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_349C4EC14953D682C396A8AB9BE92D7D_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_349C4EC14953D682C396A8AB9BE92D7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_349C4EC14953D682C396A8AB9BE92D7D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_ABF14A40CF282806F965A8E36F653000_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_ABF14A40CF282806F965A8E36F653000" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis spread on variable rate (percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_ABF14A40CF282806F965A8E36F653000_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_ABF14A40CF282806F965A8E36F653000" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_ABF14A40CF282806F965A8E36F653000" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_CE67248F6C7E993B67F8A8AB9BE96A0F_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_CE67248F6C7E993B67F8A8AB9BE96A0F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face amount of debt</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_CE67248F6C7E993B67F8A8AB9BE96A0F_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_CE67248F6C7E993B67F8A8AB9BE96A0F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_4200FCE01BC525B79C34A8AB9BE94C49_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_4200FCE01BC525B79C34A8AB9BE94C49" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds from offering</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromDebtNetOfIssuanceCosts" xlink:label="loc_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_4200FCE01BC525B79C34A8AB9BE94C49" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPricePercentage_A97436FD5F80C75CE0C5A8AB9BE9B817_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPricePercentage_A97436FD5F80C75CE0C5A8AB9BE9B817" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Redemption price of debt instrument (as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPricePercentage_A97436FD5F80C75CE0C5A8AB9BE9B817_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPricePercentage_A97436FD5F80C75CE0C5A8AB9BE9B817" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption Price, Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPricePercentage" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPricePercentage_A97436FD5F80C75CE0C5A8AB9BE9B817" xlink:type="locator" />
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    <link:label id="lab_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption Price, Percentage of Aggregate Principal Amount, That Can Be Redeemed By Equity Offering</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42_label_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption Price, Percentage of Aggregate Principal Amount, That Can Be Redeemed By Equity Offering</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of aggregate principal amount of debt that can be redeemed with the proceeds from one or more private or public equity offerings.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering" xlink:label="loc_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42" xlink:to="lab_lpi_DebtInstrumentRedemptionPricePercentageofAggregatePrincipalAmountThatCanBeRedeemedByEquityOffering_658CC6D447CFAE93944DA8AB9BE9FA42" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument redeemed by equity offering redemption price (percentage)</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F_label_en-US" xlink:label="lab_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redeemed By Equity Offering, Redemption Price, Percentage</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redeemed By Equity Offering, Redemption Price, Percentage</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage" xlink:label="loc_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F" xlink:to="lab_lpi_DebtInstrumentRedeemedByEquityOfferingRedemptionPricePercentage_F29AA253A0103B5D4752A8AB9BE9641F" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument redemption principal amount outstanding threshold (percentage)</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A_label_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Principal Amount Outstanding Threshold, Percentage</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of aggregate principal amount of debt that must remain outstanding immediately after the redemption of debt.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage" xlink:label="loc_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A" xlink:to="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdPercentage_F90B274933EF59B99DF8A8AB9BE9667A" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument redemption principal amount outstanding threshold (in days)</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988_label_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Principal Amount Outstanding Threshold, Days</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum period of time after an equity offering within which debt redemption must occur.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays" xlink:label="loc_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988" xlink:to="lab_lpi_DebtInstrumentRedemptionPrincipalAmountOutstandingThresholdDays_B829AA8C9623392B1566A8AB9BE9D988" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodStartDate_D228113D7FB1EF71E420A8AB9BE9A0B6_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodStartDate_D228113D7FB1EF71E420A8AB9BE9A0B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, redemption period start date</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodStartDate_D228113D7FB1EF71E420A8AB9BE9A0B6_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodStartDate_D228113D7FB1EF71E420A8AB9BE9A0B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption Period, Start Date</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodStartDate" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodStartDate_D228113D7FB1EF71E420A8AB9BE9A0B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodStartDate_D228113D7FB1EF71E420A8AB9BE9A0B6" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodStartDate_D228113D7FB1EF71E420A8AB9BE9A0B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodEndDate_B4691F32F5E5709F76C3A8AB9BE9E568_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodEndDate_B4691F32F5E5709F76C3A8AB9BE9E568" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, redemption period end date</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPeriodEndDate_B4691F32F5E5709F76C3A8AB9BE9E568_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPeriodEndDate_B4691F32F5E5709F76C3A8AB9BE9E568" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption Period, End Date</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPeriodEndDate" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPeriodEndDate_B4691F32F5E5709F76C3A8AB9BE9E568" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPeriodEndDate_B4691F32F5E5709F76C3A8AB9BE9E568" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPeriodEndDate_B4691F32F5E5709F76C3A8AB9BE9E568" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_EA05A1A000305C36BB42A8AB9BE97EFF_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_EA05A1A000305C36BB42A8AB9BE97EFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption price of debt instrument, percentage of principal amount redeemed</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_EA05A1A000305C36BB42A8AB9BE97EFF_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_EA05A1A000305C36BB42A8AB9BE97EFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed" xlink:label="loc_us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_EA05A1A000305C36BB42A8AB9BE97EFF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_EA05A1A000305C36BB42A8AB9BE97EFF" xlink:to="lab_us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_EA05A1A000305C36BB42A8AB9BE97EFF" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of principal amount of 2022 notes issued under the Indenture, which must remain outstanding immediately after redemption</link:label>
    <link:label id="lab_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99_label_en-US" xlink:label="lab_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Percentage of Original Principal Amount Outstanding after Redemption from Equity Offerings</link:label>
    <link:label id="lab_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the percentage of the original principal amount of the debt instrument that must remain outstanding after the entity has redeemed a portion of the debt instrument with net cash proceeds from equity offerings.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings" xlink:label="loc_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99" xlink:to="lab_lpi_DebtInstrumentPercentageOfOriginalPrincipalAmountOutstandingAfterRedemptionFromEquityOfferings_56BFA722CC97163CCE4EA8AB9BEA9C99" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption period of the Notes following the closing date of equity offering (in days)</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615_label_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Redemption Period Following Closing Date of Equity Offering</link:label>
    <link:label id="lab_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the redemption period of the debt instrument following the closing date of equity offering.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering" xlink:label="loc_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615" xlink:to="lab_lpi_DebtInstrumentRedemptionPeriodFollowingClosingDateOfEquityOffering_076C3A7980AE19F6A8BEA8AB9BEA0615" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_306762FA80400E86F085A8AB9BEFE4DE_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_306762FA80400E86F085A8AB9BEFE4DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_306762FA80400E86F085A8AB9BEFE4DE_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_306762FA80400E86F085A8AB9BEFE4DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_306762FA80400E86F085A8AB9BEFE4DE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_306762FA80400E86F085A8AB9BEFE4DE" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_306762FA80400E86F085A8AB9BEFE4DE" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_32A0DB2276FF88D75E21A8AB9BEF937C_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_32A0DB2276FF88D75E21A8AB9BEF937C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_32A0DB2276FF88D75E21A8AB9BEF937C_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_32A0DB2276FF88D75E21A8AB9BEF937C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Current Borrowing Capacity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_32A0DB2276FF88D75E21A8AB9BEF937C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_32A0DB2276FF88D75E21A8AB9BEF937C" xlink:to="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_32A0DB2276FF88D75E21A8AB9BEF937C" xlink:type="arc" />
    <link:label id="lab_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25_terseLabel_en-US" xlink:label="lab_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate elected commitment</link:label>
    <link:label id="lab_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25_label_en-US" xlink:label="lab_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Aggregate Elected Commitment</link:label>
    <link:label id="lab_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25_documentation_en-US" xlink:label="lab_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Aggregate Elected Commitment</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_LineofCreditFacilityAggregateElectedCommitment" xlink:label="loc_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25" xlink:to="lab_lpi_LineofCreditFacilityAggregateElectedCommitment_409F3A86C79E5842601CA8AB9BEFFC25" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_F1C476A0E2C25BDC0427A8AB9BEFE3EF_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_F1C476A0E2C25BDC0427A8AB9BEFE3EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitment fee on unused capacity (as a percent)</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_F1C476A0E2C25BDC0427A8AB9BEFE3EF_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_F1C476A0E2C25BDC0427A8AB9BEFE3EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_F1C476A0E2C25BDC0427A8AB9BEFE3EF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_F1C476A0E2C25BDC0427A8AB9BEFE3EF" xlink:to="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_F1C476A0E2C25BDC0427A8AB9BEFE3EF" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral as a percentage of present value of proved reserves</link:label>
    <link:label id="lab_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C_label_en-US" xlink:label="lab_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Percentage</link:label>
    <link:label id="lab_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Percentage</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentCollateralAmountPercentage" xlink:label="loc_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C" xlink:to="lab_lpi_DebtInstrumentCollateralAmountPercentage_86B3E1CDE949004E59A7A8AB9BEF985C" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current ratio requirement (as a percent)</link:label>
    <link:label id="lab_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94_label_en-US" xlink:label="lab_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Covenant Current Ratio</link:label>
    <link:label id="lab_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the ratio of current assets to current liabilities, which is necessary to be maintained under the terms of the senior credit facilities' covenants.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentCovenantCurrentRatio" xlink:label="loc_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94" xlink:to="lab_lpi_DebtInstrumentCovenantCurrentRatio_0A9D79BBB07535A90523A8AB9BEFCB94" xlink:type="arc" />
    <link:label id="lab_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B_terseLabel_en-US" xlink:label="lab_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument Covenant Consolidated Interest Coverage Ratio</link:label>
    <link:label id="lab_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B_label_en-US" xlink:label="lab_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Minimum Consolidated Interest Coverage Ratio</link:label>
    <link:label id="lab_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B_documentation_en-US" xlink:label="lab_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the ratio of consolidated adjusted earnings before interest, taxes, depreciation and amortization to interest expense, which is necessary to be maintained under the terms of the senior credit facilities' covenants.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio" xlink:label="loc_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B" xlink:to="lab_lpi_DebtInstrumentCovenantMinimumConsolidatedInterestCoverageRatio_36F96BBAE62FB8A80757A8AB9BF00E3B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_AE4F14376B69F1308A82A282994AFEC2_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_AE4F14376B69F1308A82A282994AFEC2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax-deferred contributions of eligible employees as a percentage of their annual compensation</link:label>
    <link:label id="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_AE4F14376B69F1308A82A282994AFEC2_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_AE4F14376B69F1308A82A282994AFEC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:label="loc_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_AE4F14376B69F1308A82A282994AFEC2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_AE4F14376B69F1308A82A282994AFEC2" xlink:to="lab_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_AE4F14376B69F1308A82A282994AFEC2" xlink:type="arc" />
    <link:label id="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_874613CD23216C7F88B7A282994A2257_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_874613CD23216C7F88B7A282994A2257" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employer matching contribution, percent</link:label>
    <link:label id="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_874613CD23216C7F88B7A282994A2257_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_874613CD23216C7F88B7A282994A2257" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:label="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_874613CD23216C7F88B7A282994A2257" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_874613CD23216C7F88B7A282994A2257" xlink:to="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_874613CD23216C7F88B7A282994A2257" xlink:type="arc" />
    <link:label id="lab_us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage_C0C1788E5D5674417A40A282994AAFCB_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage_C0C1788E5D5674417A40A282994AAFCB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of employer contributions vested upon receipt</link:label>
    <link:label id="lab_us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage_C0C1788E5D5674417A40A282994AAFCB_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage_C0C1788E5D5674417A40A282994AAFCB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage" xlink:label="loc_us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage_C0C1788E5D5674417A40A282994AAFCB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage_C0C1788E5D5674417A40A282994AAFCB" xlink:to="lab_us-gaap_DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage_C0C1788E5D5674417A40A282994AAFCB" xlink:type="arc" />
    <link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_61B22A7D1D4023D083C7A282994AF787_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized_61B22A7D1D4023D083C7A282994AF787" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions</link:label>
    <link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_61B22A7D1D4023D083C7A282994AF787_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized_61B22A7D1D4023D083C7A282994AF787" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Cost Recognized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DefinedContributionPlanCostRecognized" xlink:label="loc_us-gaap_DefinedContributionPlanCostRecognized_61B22A7D1D4023D083C7A282994AF787" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanCostRecognized_61B22A7D1D4023D083C7A282994AF787" xlink:to="lab_us-gaap_DefinedContributionPlanCostRecognized_61B22A7D1D4023D083C7A282994AF787" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueRecognitionAbstract_29BBE39EA4BBDEEB6EA6A28299BF24AF_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionAbstract_29BBE39EA4BBDEEB6EA6A28299BF24AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue recognition</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionAbstract_29BBE39EA4BBDEEB6EA6A28299BF24AF_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionAbstract_29BBE39EA4BBDEEB6EA6A28299BF24AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RevenueRecognitionAbstract" xlink:label="loc_us-gaap_RevenueRecognitionAbstract_29BBE39EA4BBDEEB6EA6A28299BF24AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionAbstract_29BBE39EA4BBDEEB6EA6A28299BF24AF" xlink:to="lab_us-gaap_RevenueRecognitionAbstract_29BBE39EA4BBDEEB6EA6A28299BF24AF" xlink:type="arc" />
    <link:label id="lab_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E_terseLabel_en-US" xlink:label="lab_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value of net underproduced (overproduced) positions arising during the period increasing (decreasing) oil and natural gas sales</link:label>
    <link:label id="lab_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E_label_en-US" xlink:label="lab_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gas Balancing Asset (Liability), Period Increase (Decrease), Net</link:label>
    <link:label id="lab_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E_documentation_en-US" xlink:label="lab_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gas Balancing Asset (Liability), Period Increase (Decrease), Net</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet" xlink:label="loc_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E" xlink:to="lab_lpi_GasBalancingAssetLiabilityPeriodIncreaseDecreaseNet_83D727F9EE759EA56C35A28299BFBC0E" xlink:type="arc" />
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpenseAbstract_253AA8A89D3D4CEE12A0A28299BF9DEE_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpenseAbstract_253AA8A89D3D4CEE12A0A28299BF9DEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expense</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpenseAbstract_253AA8A89D3D4CEE12A0A28299BF9DEE_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpenseAbstract_253AA8A89D3D4CEE12A0A28299BF9DEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_GeneralAndAdministrativeExpenseAbstract" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpenseAbstract_253AA8A89D3D4CEE12A0A28299BF9DEE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpenseAbstract_253AA8A89D3D4CEE12A0A28299BF9DEE" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpenseAbstract_253AA8A89D3D4CEE12A0A28299BF9DEE" xlink:type="arc" />
    <link:label id="lab_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C_terseLabel_en-US" xlink:label="lab_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fees received for the operation of jointly-owned oil and natural gas properties</link:label>
    <link:label id="lab_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C_label_en-US" xlink:label="lab_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Jointly Owned Oil and Natural Gas Property Fees Received for Operation</link:label>
    <link:label id="lab_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C_documentation_en-US" xlink:label="lab_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of fees received for the operation of jointly-owned oil and natural gas properties.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation" xlink:label="loc_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C" xlink:to="lab_lpi_JointlyOwnedOilAndNaturalGasPropertyFeesReceivedForOperation_932CAEE9AEAF725378F2A28299BF6F2C" xlink:type="arc" />
    <link:label id="lab_us-gaap_EnergyAxis_36E9377FCC255CD46895C2C9E99D508D_terseLabel_en-US" xlink:label="lab_us-gaap_EnergyAxis_36E9377FCC255CD46895C2C9E99D508D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Energy [Axis]</link:label>
    <link:label id="lab_us-gaap_EnergyAxis_36E9377FCC255CD46895C2C9E99D508D_label_en-US" xlink:label="lab_us-gaap_EnergyAxis_36E9377FCC255CD46895C2C9E99D508D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Energy [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EnergyAxis" xlink:label="loc_us-gaap_EnergyAxis_36E9377FCC255CD46895C2C9E99D508D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_EnergyDomain_0DDC27BF25B4C1DB9CB0C2C9E9A3E5C6_terseLabel_en-US" xlink:label="lab_us-gaap_EnergyDomain_0DDC27BF25B4C1DB9CB0C2C9E9A3E5C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Energy [Domain]</link:label>
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    <link:label id="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis_51F4D5026EB71A4B7736C2E8B249645B_label_en-US" xlink:label="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis_51F4D5026EB71A4B7736C2E8B249645B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cause Of Revision In Proved And Unproved Reserves [Axis]</link:label>
    <link:label id="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis_51F4D5026EB71A4B7736C2E8B249645B_documentation_en-US" xlink:label="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis_51F4D5026EB71A4B7736C2E8B249645B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cause Of Revision In Proved And Unproved Reserves [Axis]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis" xlink:label="loc_lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis_51F4D5026EB71A4B7736C2E8B249645B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis_51F4D5026EB71A4B7736C2E8B249645B" xlink:to="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesAxis_51F4D5026EB71A4B7736C2E8B249645B" xlink:type="arc" />
    <link:label id="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD_terseLabel_en-US" xlink:label="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cause Of Revision In Proved And Unproved Reserves [Domain]</link:label>
    <link:label id="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD_label_en-US" xlink:label="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cause Of Revision In Proved And Unproved Reserves [Domain]</link:label>
    <link:label id="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD_documentation_en-US" xlink:label="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Domain] for Cause Of Revision In Proved And Unproved Reserves [Axis]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain" xlink:label="loc_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD" xlink:to="lab_lpi_CauseOfRevisionInProvedAndUnprovedReservesDomain_CDA06A89F6D75DF923CDC2E8B2497ADD" xlink:type="arc" />
    <link:label id="lab_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2_terseLabel_en-US" xlink:label="lab_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance, Pricing and Other Changes</link:label>
    <link:label id="lab_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2_label_en-US" xlink:label="lab_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance, Pricing and Other Changes [Member]</link:label>
    <link:label id="lab_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2_documentation_en-US" xlink:label="lab_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performance, Pricing and Other Changes [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PerformancePricingAndOtherChangesMember" xlink:label="loc_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2" xlink:to="lab_lpi_PerformancePricingAndOtherChangesMember_7D76479B590DA88F09F3C2E8B249EAE2" xlink:type="arc" />
    <link:label id="lab_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF_terseLabel_en-US" xlink:label="lab_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Drilling of New Wells</link:label>
    <link:label id="lab_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF_label_en-US" xlink:label="lab_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Drilling of New Wells [Member]</link:label>
    <link:label id="lab_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF_documentation_en-US" xlink:label="lab_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Drilling of New Wells [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DrillingOfNewWellsMember" xlink:label="loc_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF" xlink:to="lab_lpi_DrillingOfNewWellsMember_0AFF4FA988AB56211A78C2E8B249B0EF" xlink:type="arc" />
    <link:label id="lab_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41_terseLabel_en-US" xlink:label="lab_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proved Undeveloped Properties</link:label>
    <link:label id="lab_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41_label_en-US" xlink:label="lab_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proved Undeveloped Properties [Member]</link:label>
    <link:label id="lab_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41_documentation_en-US" xlink:label="lab_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to undeveloped property that has been found to have proven oil and gas reserves.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_ProvedUndevelopedPropertiesMember" xlink:label="loc_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41" xlink:to="lab_lpi_ProvedUndevelopedPropertiesMember_0459DF4CB500870FB236C2E8B2492C41" xlink:type="arc" />
    <link:label id="lab_us-gaap_ReserveQuantitiesByTypeOfReserveAxis_6A3EBEC87169011F7738C2E8B249274B_terseLabel_en-US" xlink:label="lab_us-gaap_ReserveQuantitiesByTypeOfReserveAxis_6A3EBEC87169011F7738C2E8B249274B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Petroleum Reserves [Axis]</link:label>
    <link:label id="lab_us-gaap_ReserveQuantitiesByTypeOfReserveAxis_6A3EBEC87169011F7738C2E8B249274B_label_en-US" xlink:label="lab_us-gaap_ReserveQuantitiesByTypeOfReserveAxis_6A3EBEC87169011F7738C2E8B249274B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Petroleum Reserves [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ReserveQuantitiesByTypeOfReserveAxis" xlink:label="loc_us-gaap_ReserveQuantitiesByTypeOfReserveAxis_6A3EBEC87169011F7738C2E8B249274B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReserveQuantitiesByTypeOfReserveAxis_6A3EBEC87169011F7738C2E8B249274B" xlink:to="lab_us-gaap_ReserveQuantitiesByTypeOfReserveAxis_6A3EBEC87169011F7738C2E8B249274B" xlink:type="arc" />
    <link:label id="lab_us-gaap_TypeOfReserveDomain_88FF04CB31985DD8DCCFC2E8B24928FF_terseLabel_en-US" xlink:label="lab_us-gaap_TypeOfReserveDomain_88FF04CB31985DD8DCCFC2E8B24928FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Type of Reserve [Domain]</link:label>
    <link:label id="lab_us-gaap_TypeOfReserveDomain_88FF04CB31985DD8DCCFC2E8B24928FF_label_en-US" xlink:label="lab_us-gaap_TypeOfReserveDomain_88FF04CB31985DD8DCCFC2E8B24928FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Type of Reserve [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_TypeOfReserveDomain" xlink:label="loc_us-gaap_TypeOfReserveDomain_88FF04CB31985DD8DCCFC2E8B24928FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TypeOfReserveDomain_88FF04CB31985DD8DCCFC2E8B24928FF" xlink:to="lab_us-gaap_TypeOfReserveDomain_88FF04CB31985DD8DCCFC2E8B24928FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_OilReservesMember_BA9DD96D4A89CBF77164C2E8B2493D7C_terseLabel_en-US" xlink:label="lab_us-gaap_OilReservesMember_BA9DD96D4A89CBF77164C2E8B2493D7C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Oil (MBbls)</link:label>
    <link:label id="lab_us-gaap_OilReservesMember_BA9DD96D4A89CBF77164C2E8B2493D7C_label_en-US" xlink:label="lab_us-gaap_OilReservesMember_BA9DD96D4A89CBF77164C2E8B2493D7C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Oil [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OilReservesMember" xlink:label="loc_us-gaap_OilReservesMember_BA9DD96D4A89CBF77164C2E8B2493D7C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OilReservesMember_BA9DD96D4A89CBF77164C2E8B2493D7C" xlink:to="lab_us-gaap_OilReservesMember_BA9DD96D4A89CBF77164C2E8B2493D7C" xlink:type="arc" />
    <link:label id="lab_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56_terseLabel_en-US" xlink:label="lab_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Permian Basin And Granite Wash</link:label>
    <link:label id="lab_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56_label_en-US" xlink:label="lab_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Permian Basin And Granite Wash [Member]</link:label>
    <link:label id="lab_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56_documentation_en-US" xlink:label="lab_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Permian Basin And Granite Wash [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PermianBasinAndGraniteWashMember" xlink:label="loc_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56" xlink:to="lab_lpi_PermianBasinAndGraniteWashMember_937FD96500A95F6DBECDC2E8B24AFE56" xlink:type="arc" />
    <link:label id="lab_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7_terseLabel_en-US" xlink:label="lab_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Permian Basin play</link:label>
    <link:label id="lab_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7_label_en-US" xlink:label="lab_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Permian Basin Play [Member]</link:label>
    <link:label id="lab_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7_documentation_en-US" xlink:label="lab_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Permian Basin play acquisitions in producing properties.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PermianBasinPlayMember" xlink:label="loc_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7" xlink:to="lab_lpi_PermianBasinPlayMember_BA1053657A7929B8A5EDC2E8B24A5CF7" xlink:type="arc" />
    <link:label id="lab_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113_terseLabel_en-US" xlink:label="lab_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Anadarko Granite Wash play</link:label>
    <link:label id="lab_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113_label_en-US" xlink:label="lab_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anadarko Granite Wash Play [Member]</link:label>
    <link:label id="lab_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113_documentation_en-US" xlink:label="lab_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Anadarko Granite Wash play acquisitions in producing properties.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_AnadarkoGraniteWashPlayMember" xlink:label="loc_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113" xlink:to="lab_lpi_AnadarkoGraniteWashPlayMember_E3A26B55AEA77876ED02C2E8B24AD113" xlink:type="arc" />
    <link:label id="lab_us-gaap_ReserveQuantitiesLineItems_826819F23C1BCEFA501BC2E8B24A0691_terseLabel_en-US" xlink:label="lab_us-gaap_ReserveQuantitiesLineItems_826819F23C1BCEFA501BC2E8B24A0691" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proved oil and natural gas reserves</link:label>
    <link:label id="lab_us-gaap_ReserveQuantitiesLineItems_826819F23C1BCEFA501BC2E8B24A0691_label_en-US" xlink:label="lab_us-gaap_ReserveQuantitiesLineItems_826819F23C1BCEFA501BC2E8B24A0691" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve Quantities [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ReserveQuantitiesLineItems" xlink:label="loc_us-gaap_ReserveQuantitiesLineItems_826819F23C1BCEFA501BC2E8B24A0691" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReserveQuantitiesLineItems_826819F23C1BCEFA501BC2E8B24A0691" xlink:to="lab_us-gaap_ReserveQuantitiesLineItems_826819F23C1BCEFA501BC2E8B24A0691" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvedDevelopedAndUndevelopedReserveEnergyRollForward_47754767837EE7745490C2E8B24AAB34_terseLabel_en-US" xlink:label="lab_us-gaap_ProvedDevelopedAndUndevelopedReserveEnergyRollForward_47754767837EE7745490C2E8B24AAB34" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proved developed and undeveloped reserves:</link:label>
    <link:label id="lab_us-gaap_ProvedDevelopedAndUndevelopedReserveEnergyRollForward_47754767837EE7745490C2E8B24AAB34_label_en-US" xlink:label="lab_us-gaap_ProvedDevelopedAndUndevelopedReserveEnergyRollForward_47754767837EE7745490C2E8B24AAB34" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proved Developed and Undeveloped Reserve (Energy) [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedDevelopedAndUndevelopedReserveEnergyRollForward" xlink:label="loc_us-gaap_ProvedDevelopedAndUndevelopedReserveEnergyRollForward_47754767837EE7745490C2E8B24AAB34" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProvedDevelopedReservesVolume_07EC5C0AB5D6FE8478F7C2E8B2500A5A_label_en-US" xlink:label="lab_us-gaap_ProvedDevelopedReservesVolume_07EC5C0AB5D6FE8478F7C2E8B2500A5A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proved Developed Reserves (Volume)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedDevelopedReservesVolume" xlink:label="loc_us-gaap_ProvedDevelopedReservesVolume_07EC5C0AB5D6FE8478F7C2E8B2500A5A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvedDevelopedReservesVolume_07EC5C0AB5D6FE8478F7C2E8B2500A5A" xlink:to="lab_us-gaap_ProvedDevelopedReservesVolume_07EC5C0AB5D6FE8478F7C2E8B2500A5A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvedDevelopedReservesBOE1_AF2EB7D35B8552F91A46C2E8B2508D74_periodStartLabel_en-US" xlink:label="lab_us-gaap_ProvedDevelopedReservesBOE1_AF2EB7D35B8552F91A46C2E8B2508D74" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning of year (energy)</link:label>
    <link:label id="lab_us-gaap_ProvedDevelopedReservesBOE1_AF2EB7D35B8552F91A46C2E8B2508D74_label_en-US" xlink:label="lab_us-gaap_ProvedDevelopedReservesBOE1_AF2EB7D35B8552F91A46C2E8B2508D74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proved Developed Reserves (Energy)</link:label>
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    <link:label id="lab_us-gaap_ProvedDevelopedReservesVolume_D92E349AB339D47573AEC2E8B2505F9A_periodEndLabel_en-US" xlink:label="lab_us-gaap_ProvedDevelopedReservesVolume_D92E349AB339D47573AEC2E8B2505F9A" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">End of year (volume)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedDevelopedReservesVolume" xlink:label="loc_us-gaap_ProvedDevelopedReservesVolume_D92E349AB339D47573AEC2E8B2505F9A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProvedDevelopedReservesBOE1_277202F04C5B5CD4B5A3C2E8B251B2CF_periodEndLabel_en-US" xlink:label="lab_us-gaap_ProvedDevelopedReservesBOE1_277202F04C5B5CD4B5A3C2E8B251B2CF" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">End of year (energy)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedDevelopedReservesBOE1" xlink:label="loc_us-gaap_ProvedDevelopedReservesBOE1_277202F04C5B5CD4B5A3C2E8B251B2CF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvedDevelopedReservesBOE1_277202F04C5B5CD4B5A3C2E8B251B2CF" xlink:to="lab_us-gaap_ProvedDevelopedReservesBOE1_277202F04C5B5CD4B5A3C2E8B251B2CF" xlink:type="arc" />
    <link:label id="lab_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600_terseLabel_en-US" xlink:label="lab_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proved undeveloped reserves:</link:label>
    <link:label id="lab_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600_label_en-US" xlink:label="lab_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proved Undeveloped Reserves [Roll Forward]</link:label>
    <link:label id="lab_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600_documentation_en-US" xlink:label="lab_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" />
    <link:loc xlink:href="lpi-20141231.xsd#lpi_ProvedUndevelopedReservesRollForward" xlink:label="loc_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600" xlink:to="lab_lpi_ProvedUndevelopedReservesRollForward_FB0275B07875E22542D1C2E8B2519600" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvedUndevelopedReserveVolume_52F2E4233BC23E786B5EC2E8B2519A0E_periodStartLabel_en-US" xlink:label="lab_us-gaap_ProvedUndevelopedReserveVolume_52F2E4233BC23E786B5EC2E8B2519A0E" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning of year (volume)</link:label>
    <link:label id="lab_us-gaap_ProvedUndevelopedReserveVolume_52F2E4233BC23E786B5EC2E8B2519A0E_label_en-US" xlink:label="lab_us-gaap_ProvedUndevelopedReserveVolume_52F2E4233BC23E786B5EC2E8B2519A0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proved Undeveloped Reserve (Volume)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedUndevelopedReserveVolume" xlink:label="loc_us-gaap_ProvedUndevelopedReserveVolume_52F2E4233BC23E786B5EC2E8B2519A0E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvedUndevelopedReserveVolume_52F2E4233BC23E786B5EC2E8B2519A0E" xlink:to="lab_us-gaap_ProvedUndevelopedReserveVolume_52F2E4233BC23E786B5EC2E8B2519A0E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvedUndevelopedReserveBOE1_F9A1AFFC1B625E227179C2E8B251ABD5_periodStartLabel_en-US" xlink:label="lab_us-gaap_ProvedUndevelopedReserveBOE1_F9A1AFFC1B625E227179C2E8B251ABD5" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning of year (energy)</link:label>
    <link:label id="lab_us-gaap_ProvedUndevelopedReserveBOE1_F9A1AFFC1B625E227179C2E8B251ABD5_label_en-US" xlink:label="lab_us-gaap_ProvedUndevelopedReserveBOE1_F9A1AFFC1B625E227179C2E8B251ABD5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proved Undeveloped Reserves (Energy)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedUndevelopedReserveBOE1" xlink:label="loc_us-gaap_ProvedUndevelopedReserveBOE1_F9A1AFFC1B625E227179C2E8B251ABD5" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProvedUndevelopedReserveVolume_8CCBDD566B5011CD55BDC2E8B2511BD1_periodEndLabel_en-US" xlink:label="lab_us-gaap_ProvedUndevelopedReserveVolume_8CCBDD566B5011CD55BDC2E8B2511BD1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">End of year (volume)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedUndevelopedReserveVolume" xlink:label="loc_us-gaap_ProvedUndevelopedReserveVolume_8CCBDD566B5011CD55BDC2E8B2511BD1" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProvedUndevelopedReserveBOE1_3979FD56D6BD39F12212C2E8B2518A3B_periodEndLabel_en-US" xlink:label="lab_us-gaap_ProvedUndevelopedReserveBOE1_3979FD56D6BD39F12212C2E8B2518A3B" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">End of year (energy)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvedUndevelopedReserveBOE1" xlink:label="loc_us-gaap_ProvedUndevelopedReserveBOE1_3979FD56D6BD39F12212C2E8B2518A3B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvedUndevelopedReserveBOE1_3979FD56D6BD39F12212C2E8B2518A3B" xlink:to="lab_us-gaap_ProvedUndevelopedReserveBOE1_3979FD56D6BD39F12212C2E8B2518A3B" xlink:type="arc" />
    <link:label id="lab_lpi_PercentageOfProvedReservesEstimatedByIndependentReserveEngineers_C4CE3CDF4F4020FD0630C2E8B2517C15_terseLabel_en-US" xlink:label="lab_lpi_PercentageOfProvedReservesEstimatedByIndependentReserveEngineers_C4CE3CDF4F4020FD0630C2E8B2517C15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of proved reserves estimated by independent reserve engineers</link:label>
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    <link:label id="lab_lpi_FullCostMethodofAccountingforInvestmentsinOilandGasPropertiesUnweightedArithmeticAverageRate_4B9951929F1DA303A599C2E8B2518838_terseLabel_en-US" xlink:label="lab_lpi_FullCostMethodofAccountingforInvestmentsinOilandGasPropertiesUnweightedArithmeticAverageRate_4B9951929F1DA303A599C2E8B2518838" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Full cost method of accounting for investments in oil and gas properties, unweighted arithmetic average rate</link:label>
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_FullCostMethodofAccountingforInvestmentsinOilandGasPropertiesUnweightedArithmeticAverageRate" xlink:label="loc_lpi_FullCostMethodofAccountingforInvestmentsinOilandGasPropertiesUnweightedArithmeticAverageRate_4B9951929F1DA303A599C2E8B2518838" xlink:type="locator" />
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    <link:label id="lab_lpi_NumberofProvedandUndevelopedLocationsRemoved_F5748B47CA7CE92D9255C2E8B251FA7B_terseLabel_en-US" xlink:label="lab_lpi_NumberofProvedandUndevelopedLocationsRemoved_F5748B47CA7CE92D9255C2E8B251FA7B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of proved and undeveloped locations removed</link:label>
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    <link:label id="lab_lpi_CapitalizedAssetRetirementCost_435879676C10AF37B40AA8AB9C651AF5_terseLabel_en-US" xlink:label="lab_lpi_CapitalizedAssetRetirementCost_435879676C10AF37B40AA8AB9C651AF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalized asset retirement cost</link:label>
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    <link:label id="lab_lpi_CapitalizedAssetRetirementCost_435879676C10AF37B40AA8AB9C651AF5_documentation_en-US" xlink:label="lab_lpi_CapitalizedAssetRetirementCost_435879676C10AF37B40AA8AB9C651AF5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capitalized asset retirement cost</link:label>
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    <link:label id="lab_us-gaap_StatementTable_D8AFF9D098EB5AE55E61B7C23237A855_label_en-US" xlink:label="lab_us-gaap_StatementTable_D8AFF9D098EB5AE55E61B7C23237A855" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
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    <link:label id="lab_us-gaap_EquityComponentDomain_A1D209394522D2BE50E4B7C2324660F3_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_A1D209394522D2BE50E4B7C2324660F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
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    <link:label id="lab_us-gaap_CommonStockMember_051B83234981B4B5F1ACB7C23246B693_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember_051B83234981B4B5F1ACB7C23246B693" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_051B83234981B4B5F1ACB7C23246B693_label_en-US" xlink:label="lab_us-gaap_CommonStockMember_051B83234981B4B5F1ACB7C23246B693" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
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    <link:label id="lab_lpi_February272014Member_8EBB4B4E003BE6AB14C7BCA75A9E8511_label_en-US" xlink:label="lab_lpi_February272014Member_8EBB4B4E003BE6AB14C7BCA75A9E8511" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">February 27, 2014 [Member]</link:label>
    <link:label id="lab_lpi_February272014Member_8EBB4B4E003BE6AB14C7BCA75A9E8511_documentation_en-US" xlink:label="lab_lpi_February272014Member_8EBB4B4E003BE6AB14C7BCA75A9E8511" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">February 27, 2014 [Member]</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_February272014Member_8EBB4B4E003BE6AB14C7BCA75A9E8511" xlink:to="lab_lpi_February272014Member_8EBB4B4E003BE6AB14C7BCA75A9E8511" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_187830BE2F8CE327BB43BCA75A9FFBAD_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_187830BE2F8CE327BB43BCA75A9FFBAD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted stock option awards</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_187830BE2F8CE327BB43BCA75A9FFBAD" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_187830BE2F8CE327BB43BCA75A9FFBAD" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_0E2C7F85D793135C8F9DBCA75A9FE13A_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_0E2C7F85D793135C8F9DBCA75A9FE13A" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Outstanding at the beginning of the period (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_0E2C7F85D793135C8F9DBCA75A9FE13A_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_0E2C7F85D793135C8F9DBCA75A9FE13A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_0E2C7F85D793135C8F9DBCA75A9FE13A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_98BEEFDDD8A77C36F16CBCA75A9F6BB0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_98BEEFDDD8A77C36F16CBCA75A9F6BB0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in shares)</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_98BEEFDDD8A77C36F16CBCA75A9F6BB0" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_98BEEFDDD8A77C36F16CBCA75A9F6BB0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_1D654035B5190897BC47BCA75A9F0918_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_1D654035B5190897BC47BCA75A9F0918" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Forfeited (in shares)</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_1D654035B5190897BC47BCA75A9F0918" xlink:type="locator" />
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_F2C04448A7B4CD68DD12BCA75A9F7E6A" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_F2C04448A7B4CD68DD12BCA75A9F7E6A" xlink:type="arc" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_774C16282DFBB267189CBCA75A9F838E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_7ACEF524A040049C6DDDBCA75AA04059_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_7ACEF524A040049C6DDDBCA75AA04059" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Outstanding at the end of the period (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_7ACEF524A040049C6DDDBCA75AA04059" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_72A769DF2E06A603CE3FBCAE6E728A1F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_VehiclesMember_64D760A4B81F3D35BAFDC25DC888F94B_label_en-US" xlink:label="lab_us-gaap_VehiclesMember_64D760A4B81F3D35BAFDC25DC888F94B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vehicles [Member]</link:label>
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    <link:label id="lab_us-gaap_LandMember_FB9BC385C1661A4C2AF5C25DC888E5BE_terseLabel_en-US" xlink:label="lab_us-gaap_LandMember_FB9BC385C1661A4C2AF5C25DC888E5BE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_LandMember_FB9BC385C1661A4C2AF5C25DC888E5BE_label_en-US" xlink:label="lab_us-gaap_LandMember_FB9BC385C1661A4C2AF5C25DC888E5BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land [Member]</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_3804C207B6D5D73EDAAEC25DC8882354_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_3804C207B6D5D73EDAAEC25DC8882354" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_3804C207B6D5D73EDAAEC25DC8882354_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_3804C207B6D5D73EDAAEC25DC8882354" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_3804C207B6D5D73EDAAEC25DC8882354" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OilAndGasPropertyAbstract_DB753CD9B1D7C80FB569C25DC888256B_terseLabel_en-US" xlink:label="lab_us-gaap_OilAndGasPropertyAbstract_DB753CD9B1D7C80FB569C25DC888256B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Oil and natural gas properties</link:label>
    <link:label id="lab_us-gaap_OilAndGasPropertyAbstract_DB753CD9B1D7C80FB569C25DC888256B_label_en-US" xlink:label="lab_us-gaap_OilAndGasPropertyAbstract_DB753CD9B1D7C80FB569C25DC888256B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Oil and Gas Property [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OilAndGasPropertyAbstract" xlink:label="loc_us-gaap_OilAndGasPropertyAbstract_DB753CD9B1D7C80FB569C25DC888256B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative_4E0D001D143EC28B89D0C25DC888A7A7_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative_4E0D001D143EC28B89D0C25DC888A7A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unevaluated properties not being amortized</link:label>
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    <link:label id="lab_us-gaap_OilAndGasPropertyFullCostMethodDepletion_5851400E116BBA3FC9E6C25DC888C185_verboseLabel_en-US" xlink:label="lab_us-gaap_OilAndGasPropertyFullCostMethodDepletion_5851400E116BBA3FC9E6C25DC888C185" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depletion</link:label>
    <link:label id="lab_us-gaap_OilAndGasPropertyFullCostMethodDepletion_5851400E116BBA3FC9E6C25DC888C185_label_en-US" xlink:label="lab_us-gaap_OilAndGasPropertyFullCostMethodDepletion_5851400E116BBA3FC9E6C25DC888C185" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Oil and Gas Property, Full Cost Method, Depletion</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OilAndGasPropertyFullCostMethodDepletion" xlink:label="loc_us-gaap_OilAndGasPropertyFullCostMethodDepletion_5851400E116BBA3FC9E6C25DC888C185" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DepletionOfOilAndGasProperties_CA4BDEDAD6468A4923CCC25DC888E9D3_verboseLabel_en-US" xlink:label="lab_us-gaap_DepletionOfOilAndGasProperties_CA4BDEDAD6468A4923CCC25DC888E9D3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depletion expense</link:label>
    <link:label id="lab_us-gaap_DepletionOfOilAndGasProperties_CA4BDEDAD6468A4923CCC25DC888E9D3_label_en-US" xlink:label="lab_us-gaap_DepletionOfOilAndGasProperties_CA4BDEDAD6468A4923CCC25DC888E9D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depletion of Oil and Gas Properties</link:label>
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    <link:label id="lab_us-gaap_AmortizationExpensePerPhysicalUnitOfProduction_40980F46C76E1BEAAB52C25DC888C1DB_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationExpensePerPhysicalUnitOfProduction_40980F46C76E1BEAAB52C25DC888C1DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depletion rate per BOE (in dollars per BOE)</link:label>
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    <link:label id="lab_lpi_DiscountRateFullCostCeiling_2D14897EDCDDA813FCD6C25DC888601A_terseLabel_en-US" xlink:label="lab_lpi_DiscountRateFullCostCeiling_2D14897EDCDDA813FCD6C25DC888601A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate used in calculating full cost ceiling (in percent)</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentAbstract_3851B2EA882E4C85F6BDC25DC8884375_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentAbstract_3851B2EA882E4C85F6BDC25DC8884375" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pipeline and other gas gathering assets and other fixed assets</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentAbstract_3851B2EA882E4C85F6BDC25DC8884375_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentAbstract_3851B2EA882E4C85F6BDC25DC8884375" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Abstract]</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_3DE458C91F05737D3DF9C25DC8886844_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_3DE458C91F05737D3DF9C25DC8886844" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, useful life (in years)</link:label>
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    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_C396869CECA506C950D5C25DC888DCFB_verboseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_C396869CECA506C950D5C25DC888DCFB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depreciation, depletion and amortization</link:label>
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    <link:label id="lab_lpi_MidstreamServiceAssets_F5F19E5ECEE0591CF337C25DC888F592_terseLabel_en-US" xlink:label="lab_lpi_MidstreamServiceAssets_F5F19E5ECEE0591CF337C25DC888F592" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Midstream service assets</link:label>
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    <link:label id="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_ABEE97EA82EE4825B2D6C25DC889E9E3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_ABEE97EA82EE4825B2D6C25DC889E9E3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less accumulated depreciation</link:label>
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    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseNextTwelveMonths_A8BE0C95789D5B4D73EDA28299C5380F_terseLabel_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseNextTwelveMonths_A8BE0C95789D5B4D73EDA28299C5380F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2015</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseNextTwelveMonths_A8BE0C95789D5B4D73EDA28299C5380F_label_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseNextTwelveMonths_A8BE0C95789D5B4D73EDA28299C5380F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs Amortization Expense Next Twelve Months</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseNextTwelveMonths_A8BE0C95789D5B4D73EDA28299C5380F_documentation_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseNextTwelveMonths_A8BE0C95789D5B4D73EDA28299C5380F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization expense expected to be recognized during the next fiscal year following the latest fiscal year for deferred finance costs.</link:label>
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    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearTwo_26182EA5A2DEEEE88089A28299C54AEA_terseLabel_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearTwo_26182EA5A2DEEEE88089A28299C54AEA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2016</link:label>
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    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearThree_BD6AD73548FCB86B0EFFA28299C5E23B_documentation_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearThree_BD6AD73548FCB86B0EFFA28299C5E23B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization expense expected to be recognized during the third fiscal year following the latest fiscal year for deferred finance costs.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DeferredFinanceCostsAmortizationExpenseYearThree" xlink:label="loc_lpi_DeferredFinanceCostsAmortizationExpenseYearThree_BD6AD73548FCB86B0EFFA28299C5E23B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DeferredFinanceCostsAmortizationExpenseYearThree_BD6AD73548FCB86B0EFFA28299C5E23B" xlink:to="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearThree_BD6AD73548FCB86B0EFFA28299C5E23B" xlink:type="arc" />
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C_terseLabel_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C_label_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs Amortization Expense Year Four</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C_documentation_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization expense expected to be recognized during the fourth fiscal year following the latest fiscal year for deferred finance costs.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DeferredFinanceCostsAmortizationExpenseYearFour" xlink:label="loc_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C" xlink:to="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFour_1C8070445F967E25C43EA28299C57D5C" xlink:type="arc" />
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFive_F961189EFEE8F7E1D32BA28299C5D600_terseLabel_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFive_F961189EFEE8F7E1D32BA28299C5D600" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFive_F961189EFEE8F7E1D32BA28299C5D600_label_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFive_F961189EFEE8F7E1D32BA28299C5D600" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs Amortization Expense Year Five</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFive_F961189EFEE8F7E1D32BA28299C5D600_documentation_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseYearFive_F961189EFEE8F7E1D32BA28299C5D600" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization expense expected to be recognized in the fifth fiscal year following the latest fiscal year for deferred finance costs.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DeferredFinanceCostsAmortizationExpenseYearFive" xlink:label="loc_lpi_DeferredFinanceCostsAmortizationExpenseYearFive_F961189EFEE8F7E1D32BA28299C5D600" xlink:type="locator" />
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    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive_E0359CA67F2021200038A28299C5904A_terseLabel_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive_E0359CA67F2021200038A28299C5904A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive_E0359CA67F2021200038A28299C5904A_label_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive_E0359CA67F2021200038A28299C5904A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs Amortization Expense After Year Five</link:label>
    <link:label id="lab_lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive_E0359CA67F2021200038A28299C5904A_documentation_en-US" xlink:label="lab_lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive_E0359CA67F2021200038A28299C5904A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization expense expected to be recognized after the fifth fiscal year following the latest fiscal year for deferred finance costs.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive" xlink:label="loc_lpi_DeferredFinanceCostsAmortizationExpenseAfterYearFive_E0359CA67F2021200038A28299C5904A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DeferredFinanceCostsNoncurrentNet_70354DA4D4673BCB67AAA28299C5A468_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNoncurrentNet_70354DA4D4673BCB67AAA28299C5A468" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNoncurrentNet_70354DA4D4673BCB67AAA28299C5A468" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AssetRetirementObligationAbstract_F09D661E90FDD5282097A28299C53FF9_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationAbstract_F09D661E90FDD5282097A28299C53FF9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset retirement obligations</link:label>
    <link:label id="lab_us-gaap_AssetRetirementObligationAbstract_F09D661E90FDD5282097A28299C53FF9_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationAbstract_F09D661E90FDD5282097A28299C53FF9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligation [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligationAbstract" xlink:label="loc_us-gaap_AssetRetirementObligationAbstract_F09D661E90FDD5282097A28299C53FF9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationAbstract_F09D661E90FDD5282097A28299C53FF9" xlink:to="lab_us-gaap_AssetRetirementObligationAbstract_F09D661E90FDD5282097A28299C53FF9" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_D1EA2FDA978B36BBB3F9A28299C5D0D7_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_D1EA2FDA978B36BBB3F9A28299C5D0D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of asset retirement obligations liability</link:label>
    <link:label id="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_D1EA2FDA978B36BBB3F9A28299C5D0D7_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_D1EA2FDA978B36BBB3F9A28299C5D0D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward" xlink:label="loc_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_D1EA2FDA978B36BBB3F9A28299C5D0D7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_D1EA2FDA978B36BBB3F9A28299C5D0D7" xlink:to="lab_us-gaap_AssetRetirementObligationRollForwardAnalysisRollForward_D1EA2FDA978B36BBB3F9A28299C5D0D7" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetRetirementObligation_85F66B532D0D7BC87168A28299C5F3DE_periodStartLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligation_85F66B532D0D7BC87168A28299C5F3DE" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Liability at beginning of year</link:label>
    <link:label id="lab_us-gaap_AssetRetirementObligation_85F66B532D0D7BC87168A28299C5F3DE_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligation_85F66B532D0D7BC87168A28299C5F3DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligation" xlink:label="loc_us-gaap_AssetRetirementObligation_85F66B532D0D7BC87168A28299C5F3DE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligation_85F66B532D0D7BC87168A28299C5F3DE" xlink:to="lab_us-gaap_AssetRetirementObligation_85F66B532D0D7BC87168A28299C5F3DE" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_37DD808E48ACA72FEC28A28299C547AD_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_37DD808E48ACA72FEC28A28299C547AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities added due to acquisitions, drilling, midstream service asset construction and other</link:label>
    <link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_37DD808E48ACA72FEC28A28299C547AD_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_37DD808E48ACA72FEC28A28299C547AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligation, Liabilities Incurred</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligationLiabilitiesIncurred" xlink:label="loc_us-gaap_AssetRetirementObligationLiabilitiesIncurred_37DD808E48ACA72FEC28A28299C547AD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationLiabilitiesIncurred_37DD808E48ACA72FEC28A28299C547AD" xlink:to="lab_us-gaap_AssetRetirementObligationLiabilitiesIncurred_37DD808E48ACA72FEC28A28299C547AD" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetRetirementObligationAccretionExpense_33292565101DEF9E8C4DA28299C610F1_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationAccretionExpense_33292565101DEF9E8C4DA28299C610F1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accretion expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligationAccretionExpense" xlink:label="loc_us-gaap_AssetRetirementObligationAccretionExpense_33292565101DEF9E8C4DA28299C610F1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationAccretionExpense_33292565101DEF9E8C4DA28299C610F1" xlink:to="lab_us-gaap_AssetRetirementObligationAccretionExpense_33292565101DEF9E8C4DA28299C610F1" xlink:type="arc" />
    <link:label id="lab_lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment_738174D1A09DAA48FFF5A28299C6D98B_negatedLabel_en-US" xlink:label="lab_lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment_738174D1A09DAA48FFF5A28299C6D98B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Liabilities settled upon plugging and abandonment</link:label>
    <link:label id="lab_lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment_738174D1A09DAA48FFF5A28299C6D98B_label_en-US" xlink:label="lab_lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment_738174D1A09DAA48FFF5A28299C6D98B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligation Settled upon Plugging and Abandonment</link:label>
    <link:label id="lab_lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment_738174D1A09DAA48FFF5A28299C6D98B_documentation_en-US" xlink:label="lab_lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment_738174D1A09DAA48FFF5A28299C6D98B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of asset retirement obligations settled upon plugging and abandonment.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment" xlink:label="loc_lpi_AssetRetirementObligationSettledUponPluggingAndAbandonment_738174D1A09DAA48FFF5A28299C6D98B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_AF8569E925CA4953F2D7A28299C631B5_negatedLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_AF8569E925CA4953F2D7A28299C631B5" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Liabilities removed due to sale of property</link:label>
    <link:label id="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_AF8569E925CA4953F2D7A28299C631B5_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_AF8569E925CA4953F2D7A28299C631B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligation, Liabilities Settled</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligationLiabilitiesSettled" xlink:label="loc_us-gaap_AssetRetirementObligationLiabilitiesSettled_AF8569E925CA4953F2D7A28299C631B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationLiabilitiesSettled_AF8569E925CA4953F2D7A28299C631B5" xlink:to="lab_us-gaap_AssetRetirementObligationLiabilitiesSettled_AF8569E925CA4953F2D7A28299C631B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_EA7167C506FA7F7D6867A28299C68E9C_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_EA7167C506FA7F7D6867A28299C68E9C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revision of estimates</link:label>
    <link:label id="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_EA7167C506FA7F7D6867A28299C68E9C_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationRevisionOfEstimate_EA7167C506FA7F7D6867A28299C68E9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligation, Revision of Estimate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligationRevisionOfEstimate" xlink:label="loc_us-gaap_AssetRetirementObligationRevisionOfEstimate_EA7167C506FA7F7D6867A28299C68E9C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AssetRetirementObligation_735584E5397B040BAB8EA28299C6638D_periodEndLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligation_735584E5397B040BAB8EA28299C6638D" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Liability at end of year</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligation" xlink:label="loc_us-gaap_AssetRetirementObligation_735584E5397B040BAB8EA28299C6638D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTable_70F3C6451CB4597524B4C25DC7BFDE82_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTable_70F3C6451CB4597524B4C25DC7BFDE82" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OilAndGasPropertiesPolicyPolicyTextBlock" xlink:label="loc_us-gaap_OilAndGasPropertiesPolicyPolicyTextBlock_5ED4175EB0C32C0CF9F6A31C72A6666B" xlink:type="locator" />
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    <link:label id="lab_lpi_MidstreamServiceAssetsPolicyTextBlock_C89DAECB3D4D89F99F6EA31C72A6BE70_terseLabel_en-US" xlink:label="lab_lpi_MidstreamServiceAssetsPolicyTextBlock_C89DAECB3D4D89F99F6EA31C72A6BE70" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Midstream service assets</link:label>
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    <link:label id="lab_lpi_MidstreamServiceAssetsPolicyTextBlock_C89DAECB3D4D89F99F6EA31C72A6BE70_documentation_en-US" xlink:label="lab_lpi_MidstreamServiceAssetsPolicyTextBlock_C89DAECB3D4D89F99F6EA31C72A6BE70" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy related to midstream service assets.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_MidstreamServiceAssetsPolicyTextBlock" xlink:label="loc_lpi_MidstreamServiceAssetsPolicyTextBlock_C89DAECB3D4D89F99F6EA31C72A6BE70" xlink:type="locator" />
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    <link:label id="lab_lpi_OtherFixedAssetsPolicyTextBlock_92FCEBC6DD562D6886F5A31C72A6C318_terseLabel_en-US" xlink:label="lab_lpi_OtherFixedAssetsPolicyTextBlock_92FCEBC6DD562D6886F5A31C72A6C318" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other fixed assets</link:label>
    <link:label id="lab_lpi_OtherFixedAssetsPolicyTextBlock_92FCEBC6DD562D6886F5A31C72A6C318_label_en-US" xlink:label="lab_lpi_OtherFixedAssetsPolicyTextBlock_92FCEBC6DD562D6886F5A31C72A6C318" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Fixed Assets [Policy Text Block]</link:label>
    <link:label id="lab_lpi_OtherFixedAssetsPolicyTextBlock_92FCEBC6DD562D6886F5A31C72A6C318_documentation_en-US" xlink:label="lab_lpi_OtherFixedAssetsPolicyTextBlock_92FCEBC6DD562D6886F5A31C72A6C318" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy related to other fixed assets.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_OtherFixedAssetsPolicyTextBlock" xlink:label="loc_lpi_OtherFixedAssetsPolicyTextBlock_92FCEBC6DD562D6886F5A31C72A6C318" xlink:type="locator" />
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    <link:label id="lab_us-gaap_EnvironmentalCostsPolicy_8EA055D144F334EACA2CA31C72A671A2_terseLabel_en-US" xlink:label="lab_us-gaap_EnvironmentalCostsPolicy_8EA055D144F334EACA2CA31C72A671A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Environmental laws and regulations</link:label>
    <link:label id="lab_us-gaap_EnvironmentalCostsPolicy_8EA055D144F334EACA2CA31C72A671A2_label_en-US" xlink:label="lab_us-gaap_EnvironmentalCostsPolicy_8EA055D144F334EACA2CA31C72A671A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Environmental Costs, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_EnvironmentalCostsPolicy" xlink:label="loc_us-gaap_EnvironmentalCostsPolicy_8EA055D144F334EACA2CA31C72A671A2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EnvironmentalCostsPolicy_8EA055D144F334EACA2CA31C72A671A2" xlink:to="lab_us-gaap_EnvironmentalCostsPolicy_8EA055D144F334EACA2CA31C72A671A2" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredChargesPolicyTextBlock_AA0C7CD158DD635C93B7A31C72A6F0D2_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredChargesPolicyTextBlock_AA0C7CD158DD635C93B7A31C72A6F0D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt issuance costs</link:label>
    <link:label id="lab_us-gaap_DeferredChargesPolicyTextBlock_AA0C7CD158DD635C93B7A31C72A6F0D2_label_en-US" xlink:label="lab_us-gaap_DeferredChargesPolicyTextBlock_AA0C7CD158DD635C93B7A31C72A6F0D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Charges, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DeferredChargesPolicyTextBlock" xlink:label="loc_us-gaap_DeferredChargesPolicyTextBlock_AA0C7CD158DD635C93B7A31C72A6F0D2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredChargesPolicyTextBlock_AA0C7CD158DD635C93B7A31C72A6F0D2" xlink:to="lab_us-gaap_DeferredChargesPolicyTextBlock_AA0C7CD158DD635C93B7A31C72A6F0D2" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetRetirementObligationsPolicy_FE403CA88C7B51FA7506A31C72A64242_terseLabel_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationsPolicy_FE403CA88C7B51FA7506A31C72A64242" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset retirement obligations</link:label>
    <link:label id="lab_us-gaap_AssetRetirementObligationsPolicy_FE403CA88C7B51FA7506A31C72A64242_label_en-US" xlink:label="lab_us-gaap_AssetRetirementObligationsPolicy_FE403CA88C7B51FA7506A31C72A64242" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Retirement Obligations, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AssetRetirementObligationsPolicy" xlink:label="loc_us-gaap_AssetRetirementObligationsPolicy_FE403CA88C7B51FA7506A31C72A64242" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetRetirementObligationsPolicy_FE403CA88C7B51FA7506A31C72A64242" xlink:to="lab_us-gaap_AssetRetirementObligationsPolicy_FE403CA88C7B51FA7506A31C72A64242" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_769F1955EEF2CB5FB444A31C72A6DD07_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_769F1955EEF2CB5FB444A31C72A6DD07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value measurements</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_769F1955EEF2CB5FB444A31C72A6DD07_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_769F1955EEF2CB5FB444A31C72A6DD07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:label="loc_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_769F1955EEF2CB5FB444A31C72A6DD07" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_769F1955EEF2CB5FB444A31C72A6DD07" xlink:to="lab_us-gaap_FairValueMeasurementPolicyPolicyTextBlock_769F1955EEF2CB5FB444A31C72A6DD07" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_F8E71AE423D01DC90DBFA31C72A60336_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock_F8E71AE423D01DC90DBFA31C72A60336" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury stock</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_F8E71AE423D01DC90DBFA31C72A60336_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock_F8E71AE423D01DC90DBFA31C72A60336" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_StockholdersEquityPolicyTextBlock" xlink:label="loc_us-gaap_StockholdersEquityPolicyTextBlock_F8E71AE423D01DC90DBFA31C72A60336" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityPolicyTextBlock_F8E71AE423D01DC90DBFA31C72A60336" xlink:to="lab_us-gaap_StockholdersEquityPolicyTextBlock_F8E71AE423D01DC90DBFA31C72A60336" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_910B0C9B024E84A44E46A31C72A6C1E6_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock_910B0C9B024E84A44E46A31C72A6C1E6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue recognition</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_910B0C9B024E84A44E46A31C72A6C1E6_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock_910B0C9B024E84A44E46A31C72A6C1E6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="loc_us-gaap_RevenueRecognitionPolicyTextBlock_910B0C9B024E84A44E46A31C72A6C1E6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionPolicyTextBlock_910B0C9B024E84A44E46A31C72A6C1E6" xlink:to="lab_us-gaap_RevenueRecognitionPolicyTextBlock_910B0C9B024E84A44E46A31C72A6C1E6" xlink:type="arc" />
    <link:label id="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_5BC6527E0619B2474B8DA31C72A64262_terseLabel_en-US" xlink:label="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_5BC6527E0619B2474B8DA31C72A64262" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expense</link:label>
    <link:label id="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_5BC6527E0619B2474B8DA31C72A64262_label_en-US" xlink:label="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_5BC6527E0619B2474B8DA31C72A64262" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Selling, General and Administrative Expenses, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:label="loc_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_5BC6527E0619B2474B8DA31C72A64262" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_5BC6527E0619B2474B8DA31C72A64262" xlink:to="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_5BC6527E0619B2474B8DA31C72A64262" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_E362E6261D1995D8D4B1A31C72A619B6_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_E362E6261D1995D8D4B1A31C72A619B6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity and stock-based awards</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_E362E6261D1995D8D4B1A31C72A619B6_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_E362E6261D1995D8D4B1A31C72A619B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_E362E6261D1995D8D4B1A31C72A619B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_E362E6261D1995D8D4B1A31C72A619B6" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_E362E6261D1995D8D4B1A31C72A619B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_3E9FE36399761BCCA3CAA31C72A61BA9_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_3E9FE36399761BCCA3CAA31C72A61BA9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_3E9FE36399761BCCA3CAA31C72A61BA9_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_3E9FE36399761BCCA3CAA31C72A61BA9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock_3E9FE36399761BCCA3CAA31C72A61BA9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_D323F913D7ACEEAA29D3A31C72A6AF1F_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_D323F913D7ACEEAA29D3A31C72A6AF1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment of long-lived assets</link:label>
    <link:label id="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_D323F913D7ACEEAA29D3A31C72A6AF1F_label_en-US" xlink:label="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_D323F913D7ACEEAA29D3A31C72A6AF1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="loc_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_D323F913D7ACEEAA29D3A31C72A6AF1F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_D323F913D7ACEEAA29D3A31C72A6AF1F" xlink:to="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_D323F913D7ACEEAA29D3A31C72A6AF1F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_37D662D207B40888FB30A31C72A69F11_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_37D662D207B40888FB30A31C72A69F11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity</link:label>
    <link:label id="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_37D662D207B40888FB30A31C72A69F11_label_en-US" xlink:label="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_37D662D207B40888FB30A31C72A69F11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Variable Interest Entity, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:label="loc_us-gaap_ConsolidationVariableInterestEntityPolicy_37D662D207B40888FB30A31C72A69F11" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationVariableInterestEntityPolicy_37D662D207B40888FB30A31C72A69F11" xlink:to="lab_us-gaap_ConsolidationVariableInterestEntityPolicy_37D662D207B40888FB30A31C72A69F11" xlink:type="arc" />
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_782181816D5025264B35A31C72A6217A_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_782181816D5025264B35A31C72A6217A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recently issued accounting standards</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_782181816D5025264B35A31C72A6217A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_782181816D5025264B35A31C72A6217A" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_782181816D5025264B35A31C72A6217A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConcentrationRiskCreditRisk_023ED7B4C6AFCC41A556A31C72A617E8_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskCreditRisk_023ED7B4C6AFCC41A556A31C72A617E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Risk</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskCreditRisk_023ED7B4C6AFCC41A556A31C72A617E8_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskCreditRisk_023ED7B4C6AFCC41A556A31C72A617E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Credit Risk, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ConcentrationRiskCreditRisk" xlink:label="loc_us-gaap_ConcentrationRiskCreditRisk_023ED7B4C6AFCC41A556A31C72A617E8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock_B92D48754086E75B5A01A31C72A6F72D_label_en-US" xlink:label="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock_B92D48754086E75B5A01A31C72A6F72D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Related Costs, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:label="loc_us-gaap_CompensationRelatedCostsPolicyTextBlock_B92D48754086E75B5A01A31C72A6F72D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CompensationRelatedCostsPolicyTextBlock_B92D48754086E75B5A01A31C72A6F72D" xlink:to="lab_us-gaap_CompensationRelatedCostsPolicyTextBlock_B92D48754086E75B5A01A31C72A6F72D" xlink:type="arc" />
    <link:label id="lab_lpi_SwapAugust2013December2013Member_69194940F1DE036A6285A282992104AD_terseLabel_en-US" xlink:label="lab_lpi_SwapAugust2013December2013Member_69194940F1DE036A6285A282992104AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Swap August 2013 - December 2013</link:label>
    <link:label id="lab_lpi_SwapAugust2013December2013Member_69194940F1DE036A6285A282992104AD_label_en-US" xlink:label="lab_lpi_SwapAugust2013December2013Member_69194940F1DE036A6285A282992104AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Swap August 2013 - December 2013 [Member]</link:label>
    <link:label id="lab_lpi_SwapAugust2013December2013Member_69194940F1DE036A6285A282992104AD_documentation_en-US" xlink:label="lab_lpi_SwapAugust2013December2013Member_69194940F1DE036A6285A282992104AD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Swap August 2013 - December 2013 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SwapAugust2013December2013Member" xlink:label="loc_lpi_SwapAugust2013December2013Member_69194940F1DE036A6285A282992104AD" xlink:type="locator" />
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    <link:label id="lab_lpi_SwapJanuary2014December2014Member_601816CB50123850EA58A2829921BE15_label_en-US" xlink:label="lab_lpi_SwapJanuary2014December2014Member_601816CB50123850EA58A2829921BE15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Swap January 2014 - December 2014 [Member]</link:label>
    <link:label id="lab_lpi_SwapJanuary2014December2014Member_601816CB50123850EA58A2829921BE15_documentation_en-US" xlink:label="lab_lpi_SwapJanuary2014December2014Member_601816CB50123850EA58A2829921BE15" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Swap January 2014 - December 2014 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_SwapJanuary2014December2014Member" xlink:label="loc_lpi_SwapJanuary2014December2014Member_601816CB50123850EA58A2829921BE15" xlink:type="locator" />
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    <link:label id="lab_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD_terseLabel_en-US" xlink:label="lab_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collar September 2013 - December 2013</link:label>
    <link:label id="lab_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD_label_en-US" xlink:label="lab_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar September 2013 - December 2013 [Member]</link:label>
    <link:label id="lab_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD_documentation_en-US" xlink:label="lab_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar September 2013 - December 2013 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CollarSeptember2013December2013Member" xlink:label="loc_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD" xlink:to="lab_lpi_CollarSeptember2013December2013Member_C226C8D6F9A4426E5170A282992126FD" xlink:type="arc" />
    <link:label id="lab_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC_terseLabel_en-US" xlink:label="lab_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Put September 2013 - December 2013</link:label>
    <link:label id="lab_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC_label_en-US" xlink:label="lab_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Put September 2013 - December 2013 [Member]</link:label>
    <link:label id="lab_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC_documentation_en-US" xlink:label="lab_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Put September 2013 - December 2013 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_PutSeptember2013December2013Member" xlink:label="loc_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC" xlink:to="lab_lpi_PutSeptember2013December2013Member_A064F384458E03A10A5CA282992120DC" xlink:type="arc" />
    <link:label id="lab_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E_terseLabel_en-US" xlink:label="lab_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collar January 2014 - December 2014</link:label>
    <link:label id="lab_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E_label_en-US" xlink:label="lab_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar January 2014 - December 2014 [Member]</link:label>
    <link:label id="lab_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E_documentation_en-US" xlink:label="lab_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar January 2014 - December 2014 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CollarJanuary2014December2014Member" xlink:label="loc_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E" xlink:to="lab_lpi_CollarJanuary2014December2014Member_0FB57651B6886D054624A28299216F6E" xlink:type="arc" />
    <link:label id="lab_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531_terseLabel_en-US" xlink:label="lab_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collar 2 January 2014 - December 2014</link:label>
    <link:label id="lab_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531_label_en-US" xlink:label="lab_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar 2 January 2014 - December 2014 [Member]</link:label>
    <link:label id="lab_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531_documentation_en-US" xlink:label="lab_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar 2 January 2014 - December 2014 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_Collar2January2014December2014Member" xlink:label="loc_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531" xlink:to="lab_lpi_Collar2January2014December2014Member_4B155BA7896BC422509AA28299211531" xlink:type="arc" />
    <link:label id="lab_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633_terseLabel_en-US" xlink:label="lab_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collar 3 January 2014 - December 2014</link:label>
    <link:label id="lab_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633_label_en-US" xlink:label="lab_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar 3 January 2014 - December 2014 [Member]</link:label>
    <link:label id="lab_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633_documentation_en-US" xlink:label="lab_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar 3 January 2014 - December 2014 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_Collar3January2014December2014Member" xlink:label="loc_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633" xlink:to="lab_lpi_Collar3January2014December2014Member_778C560445D1A73F4E59A28299214633" xlink:type="arc" />
    <link:label id="lab_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F_terseLabel_en-US" xlink:label="lab_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collar 4 January 2014 - December 2014</link:label>
    <link:label id="lab_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F_label_en-US" xlink:label="lab_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar 4 January 2014 - December 2014 [Member]</link:label>
    <link:label id="lab_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F_documentation_en-US" xlink:label="lab_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar 4 January 2014 - December 2014 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_Collar4January2014December2014Member" xlink:label="loc_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F" xlink:to="lab_lpi_Collar4January2014December2014Member_55F0942CEEE3E93F187DA2829921045F" xlink:type="arc" />
    <link:label id="lab_lpi_CollarJanuary2015December2015Member_CE436AE79C251BBA067DA2829921AE3B_terseLabel_en-US" xlink:label="lab_lpi_CollarJanuary2015December2015Member_CE436AE79C251BBA067DA2829921AE3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collar January 2015 - December 2015</link:label>
    <link:label id="lab_lpi_CollarJanuary2015December2015Member_CE436AE79C251BBA067DA2829921AE3B_label_en-US" xlink:label="lab_lpi_CollarJanuary2015December2015Member_CE436AE79C251BBA067DA2829921AE3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar January 2015 - December 2015 [Member]</link:label>
    <link:label id="lab_lpi_CollarJanuary2015December2015Member_CE436AE79C251BBA067DA2829921AE3B_documentation_en-US" xlink:label="lab_lpi_CollarJanuary2015December2015Member_CE436AE79C251BBA067DA2829921AE3B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar January 2015 - December 2015 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CollarJanuary2015December2015Member" xlink:label="loc_lpi_CollarJanuary2015December2015Member_CE436AE79C251BBA067DA2829921AE3B" xlink:type="locator" />
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    <link:label id="lab_lpi_Collar2January2015December2015Member_60D68A010C56EED7B354A2829921543D_label_en-US" xlink:label="lab_lpi_Collar2January2015December2015Member_60D68A010C56EED7B354A2829921543D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar 2 January 2015 - December 2015 [Member]</link:label>
    <link:label id="lab_lpi_Collar2January2015December2015Member_60D68A010C56EED7B354A2829921543D_documentation_en-US" xlink:label="lab_lpi_Collar2January2015December2015Member_60D68A010C56EED7B354A2829921543D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar 2 January 2015 - December 2015 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_Collar2January2015December2015Member" xlink:label="loc_lpi_Collar2January2015December2015Member_60D68A010C56EED7B354A2829921543D" xlink:type="locator" />
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    <link:label id="lab_lpi_Collar3January2015December2015Member_36C60CFDE32ECDD75E13A282992160AE_terseLabel_en-US" xlink:label="lab_lpi_Collar3January2015December2015Member_36C60CFDE32ECDD75E13A282992160AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collar 3 January 2015 - December 2015</link:label>
    <link:label id="lab_lpi_Collar3January2015December2015Member_36C60CFDE32ECDD75E13A282992160AE_label_en-US" xlink:label="lab_lpi_Collar3January2015December2015Member_36C60CFDE32ECDD75E13A282992160AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar 3 January 2015 - December 2015 [Member]</link:label>
    <link:label id="lab_lpi_Collar3January2015December2015Member_36C60CFDE32ECDD75E13A282992160AE_documentation_en-US" xlink:label="lab_lpi_Collar3January2015December2015Member_36C60CFDE32ECDD75E13A282992160AE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collar 3 January 2015 - December 2015 [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_Collar3January2015December2015Member" xlink:label="loc_lpi_Collar3January2015December2015Member_36C60CFDE32ECDD75E13A282992160AE" xlink:type="locator" />
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    <link:label id="lab_us-gaap_TransactionTypeAxis_204A65DEF01B7B52EA4EA28299217C80_terseLabel_en-US" xlink:label="lab_us-gaap_TransactionTypeAxis_204A65DEF01B7B52EA4EA28299217C80" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transaction Type [Axis]</link:label>
    <link:label id="lab_us-gaap_TransactionTypeAxis_204A65DEF01B7B52EA4EA28299217C80_label_en-US" xlink:label="lab_us-gaap_TransactionTypeAxis_204A65DEF01B7B52EA4EA28299217C80" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transaction Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_TransactionTypeAxis" xlink:label="loc_us-gaap_TransactionTypeAxis_204A65DEF01B7B52EA4EA28299217C80" xlink:type="locator" />
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    <link:label id="lab_us-gaap_TransactionDomain_847FB8CBEE3CF4CD39CEA2829922A285_terseLabel_en-US" xlink:label="lab_us-gaap_TransactionDomain_847FB8CBEE3CF4CD39CEA2829922A285" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transaction [Domain]</link:label>
    <link:label id="lab_us-gaap_TransactionDomain_847FB8CBEE3CF4CD39CEA2829922A285_label_en-US" xlink:label="lab_us-gaap_TransactionDomain_847FB8CBEE3CF4CD39CEA2829922A285" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transaction [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_TransactionDomain" xlink:label="loc_us-gaap_TransactionDomain_847FB8CBEE3CF4CD39CEA2829922A285" xlink:type="locator" />
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    <link:label id="lab_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2_terseLabel_en-US" xlink:label="lab_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transferred On Divestiture</link:label>
    <link:label id="lab_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2_label_en-US" xlink:label="lab_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transferred On Divestiture [Member]</link:label>
    <link:label id="lab_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2_documentation_en-US" xlink:label="lab_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Transferred On Divestiture [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_TransferredOnDivestitureMember" xlink:label="loc_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2" xlink:to="lab_lpi_TransferredOnDivestitureMember_A810F0BC9923B8126874A2829922EEE2" xlink:type="arc" />
    <link:label id="lab_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B_terseLabel_en-US" xlink:label="lab_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unwound on Divestiture</link:label>
    <link:label id="lab_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B_label_en-US" xlink:label="lab_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unwound on Divestiture [Member]</link:label>
    <link:label id="lab_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B_documentation_en-US" xlink:label="lab_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unwound on Divestiture [Member]</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_UnwoundonDivestitureMember" xlink:label="loc_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B" xlink:to="lab_lpi_UnwoundonDivestitureMember_4CF41E382AE984480108A2829922C07B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeByNatureAxis_BEBC35550A2A9D7F1205A2829922376C_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeByNatureAxis_BEBC35550A2A9D7F1205A2829922376C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, by Nature [Axis]</link:label>
    <link:label id="lab_us-gaap_DerivativeByNatureAxis_BEBC35550A2A9D7F1205A2829922376C_label_en-US" xlink:label="lab_us-gaap_DerivativeByNatureAxis_BEBC35550A2A9D7F1205A2829922376C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, by Nature [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DerivativeByNatureAxis" xlink:label="loc_us-gaap_DerivativeByNatureAxis_BEBC35550A2A9D7F1205A2829922376C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeByNatureAxis_BEBC35550A2A9D7F1205A2829922376C" xlink:to="lab_us-gaap_DerivativeByNatureAxis_BEBC35550A2A9D7F1205A2829922376C" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeNameDomain_E9FA7BE1523FCEDD9D1AA2829922E1E3_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNameDomain_E9FA7BE1523FCEDD9D1AA2829922E1E3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DerivativeNameDomain_E9FA7BE1523FCEDD9D1AA2829922E1E3_label_en-US" xlink:label="lab_us-gaap_DerivativeNameDomain_E9FA7BE1523FCEDD9D1AA2829922E1E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DerivativeNameDomain" xlink:label="loc_us-gaap_DerivativeNameDomain_E9FA7BE1523FCEDD9D1AA2829922E1E3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNameDomain_E9FA7BE1523FCEDD9D1AA2829922E1E3" xlink:to="lab_us-gaap_DerivativeNameDomain_E9FA7BE1523FCEDD9D1AA2829922E1E3" xlink:type="arc" />
    <link:label id="lab_us-gaap_SwapMember_BB4954A4FE7D1EC4BCA1A28299227B07_terseLabel_en-US" xlink:label="lab_us-gaap_SwapMember_BB4954A4FE7D1EC4BCA1A28299227B07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Swaps</link:label>
    <link:label id="lab_us-gaap_SwapMember_BB4954A4FE7D1EC4BCA1A28299227B07_label_en-US" xlink:label="lab_us-gaap_SwapMember_BB4954A4FE7D1EC4BCA1A28299227B07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Swap [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_SwapMember" xlink:label="loc_us-gaap_SwapMember_BB4954A4FE7D1EC4BCA1A28299227B07" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SwapMember_BB4954A4FE7D1EC4BCA1A28299227B07" xlink:to="lab_us-gaap_SwapMember_BB4954A4FE7D1EC4BCA1A28299227B07" xlink:type="arc" />
    <link:label id="lab_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E_terseLabel_en-US" xlink:label="lab_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collars</link:label>
    <link:label id="lab_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E_label_en-US" xlink:label="lab_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collar [Member]</link:label>
    <link:label id="lab_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E_documentation_en-US" xlink:label="lab_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contracts negotiated between two parties to purchase and sell a specific quantity of a financial instrument, foreign currency, or commodity at a specified market rate with a specified floor price and a specified cap price at a specified future date.</link:label>
    <link:loc xlink:href="lpi-20141231.xsd#lpi_CollarMember" xlink:label="loc_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E" xlink:to="lab_lpi_CollarMember_CA9AFE1FD83B6BB3A8E0A2829922112E" xlink:type="arc" />
    <link:label id="lab_us-gaap_PutOptionMember_B3DFE099887310B0DCB6A28299221977_terseLabel_en-US" xlink:label="lab_us-gaap_PutOptionMember_B3DFE099887310B0DCB6A28299221977" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Put Option</link:label>
    <link:label id="lab_us-gaap_PutOptionMember_B3DFE099887310B0DCB6A28299221977_label_en-US" xlink:label="lab_us-gaap_PutOptionMember_B3DFE099887310B0DCB6A28299221977" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Put Option [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PutOptionMember" xlink:label="loc_us-gaap_PutOptionMember_B3DFE099887310B0DCB6A28299221977" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PutOptionMember_B3DFE099887310B0DCB6A28299221977" xlink:to="lab_us-gaap_PutOptionMember_B3DFE099887310B0DCB6A28299221977" xlink:type="arc" />
    <link:label id="lab_invest_DerivativeNonmonetaryNotionalAmount_655E1F76DFCADA5C9B08A28299225723_terseLabel_en-US" xlink:label="lab_invest_DerivativeNonmonetaryNotionalAmount_655E1F76DFCADA5C9B08A28299225723" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate volumes (in Bbls/MMBtu)</link:label>
    <link:label id="lab_invest_DerivativeNonmonetaryNotionalAmount_655E1F76DFCADA5C9B08A28299225723_label_en-US" xlink:label="lab_invest_DerivativeNonmonetaryNotionalAmount_655E1F76DFCADA5C9B08A28299225723" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Nonmonetary Notional Amount</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_DerivativeNonmonetaryNotionalAmount" xlink:label="loc_invest_DerivativeNonmonetaryNotionalAmount_655E1F76DFCADA5C9B08A28299225723" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DerivativeSwapTypeFixedPrice_5CF4C49411D253413CFEA282992211CE_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeSwapTypeFixedPrice_5CF4C49411D253413CFEA282992211CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Swap price (in dollars per unit)</link:label>
    <link:label id="lab_us-gaap_DerivativeSwapTypeFixedPrice_5CF4C49411D253413CFEA282992211CE_label_en-US" xlink:label="lab_us-gaap_DerivativeSwapTypeFixedPrice_5CF4C49411D253413CFEA282992211CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Swap Type, Fixed Price</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DerivativeSwapTypeFixedPrice" xlink:label="loc_us-gaap_DerivativeSwapTypeFixedPrice_5CF4C49411D253413CFEA282992211CE" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DerivativeFloorPrice_E86BE5D9A9473A2C4E86A2829922AC89_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFloorPrice_E86BE5D9A9473A2C4E86A2829922AC89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Floor price (in dollars per unit)</link:label>
    <link:label id="lab_us-gaap_DerivativeFloorPrice_E86BE5D9A9473A2C4E86A2829922AC89_label_en-US" xlink:label="lab_us-gaap_DerivativeFloorPrice_E86BE5D9A9473A2C4E86A2829922AC89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Floor Price</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DerivativeFloorPrice" xlink:label="loc_us-gaap_DerivativeFloorPrice_E86BE5D9A9473A2C4E86A2829922AC89" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DerivativeCapPrice_4FE0C5783FC5ADDE24E3A28299226BDA_label_en-US" xlink:label="lab_us-gaap_DerivativeCapPrice_4FE0C5783FC5ADDE24E3A28299226BDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Cap Price</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DerivativeCapPrice" xlink:label="loc_us-gaap_DerivativeCapPrice_4FE0C5783FC5ADDE24E3A28299226BDA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OptionMember_04508BB2075E37B7FE17A2829916D67F_terseLabel_en-US" xlink:label="lab_us-gaap_OptionMember_04508BB2075E37B7FE17A2829916D67F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Options Held</link:label>
    <link:label id="lab_us-gaap_OptionMember_04508BB2075E37B7FE17A2829916D67F_label_en-US" xlink:label="lab_us-gaap_OptionMember_04508BB2075E37B7FE17A2829916D67F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options Held [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OptionMember" xlink:label="loc_us-gaap_OptionMember_04508BB2075E37B7FE17A2829916D67F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OptionMember_04508BB2075E37B7FE17A2829916D67F" xlink:to="lab_us-gaap_OptionMember_04508BB2075E37B7FE17A2829916D67F" xlink:type="arc" />
    <link:label id="lab_lpi_DerivativeAmountofHedgedItemVolumeYear1_69EE21BDF2B5FC75D417A2829916A789_terseLabel_en-US" xlink:label="lab_lpi_DerivativeAmountofHedgedItemVolumeYear1_69EE21BDF2B5FC75D417A2829916A789" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedged volume (Bbl) - Year 2015</link:label>
    <link:label id="lab_lpi_DerivativeAmountofHedgedItemVolumeYear1_69EE21BDF2B5FC75D417A2829916A789_label_en-US" xlink:label="lab_lpi_DerivativeAmountofHedgedItemVolumeYear1_69EE21BDF2B5FC75D417A2829916A789" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Amount of Hedged Item, Volume, Year 1</link:label>
    <link:label id="lab_lpi_DerivativeAmountofHedgedItemVolumeYear1_69EE21BDF2B5FC75D417A2829916A789_documentation_en-US" xlink:label="lab_lpi_DerivativeAmountofHedgedItemVolumeYear1_69EE21BDF2B5FC75D417A2829916A789" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative, Amount of Hedged Item, Volume, Year 1</link:label>
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    <link:label id="lab_lpi_UnderlyingDerivativeVolumeYear1_89794B2B79831A09BF95A28299166930_terseLabel_en-US" xlink:label="lab_lpi_UnderlyingDerivativeVolumeYear1_89794B2B79831A09BF95A28299166930" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average price ($/Bbl) - Year 2015</link:label>
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_UnderlyingDerivativeVolumeYear2" xlink:label="loc_lpi_UnderlyingDerivativeVolumeYear2_7057628374DDBBF451DCA28299161889" xlink:type="locator" />
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_UnderlyingDerivativeVolumeYear3" xlink:label="loc_lpi_UnderlyingDerivativeVolumeYear3_6895620FFFB30906A00CA28299165AB1" xlink:type="locator" />
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_DerivativeAverageFloorPriceYear1" xlink:label="loc_lpi_DerivativeAverageFloorPriceYear1_E539972D82484CB43021A28299168022" xlink:type="locator" />
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_DerivativeAverageFloorPriceYear2" xlink:label="loc_lpi_DerivativeAverageFloorPriceYear2_F118B724A9C95CE78805A282991764C2" xlink:type="locator" />
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_DerivativeAverageFloorPriceYear3" xlink:label="loc_lpi_DerivativeAverageFloorPriceYear3_D0AE5FA90906CDEEE907A2829917E8AA" xlink:type="locator" />
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    <link:label id="lab_lpi_DerivativeAverageCapPriceYear1_4DBFEA35FA72454543AFA282991713BB_terseLabel_en-US" xlink:label="lab_lpi_DerivativeAverageCapPriceYear1_4DBFEA35FA72454543AFA282991713BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average ceiling price ($/Bbl) - Year 2015</link:label>
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_DerivativeAverageCapPriceYear1" xlink:label="loc_lpi_DerivativeAverageCapPriceYear1_4DBFEA35FA72454543AFA282991713BB" xlink:type="locator" />
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    <link:loc xlink:href="lpi-20141231.xsd#lpi_DerivativeAverageCapPriceYear2" xlink:label="loc_lpi_DerivativeAverageCapPriceYear2_FFA18342BF5806A1F2E8A28299170A53" xlink:type="locator" />
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    <link:label id="lab_lpi_PipelineAndGasGatheringAssets_336F3E7CDC4C714C312AA2829A10438B_terseLabel_en-US" xlink:label="lab_lpi_PipelineAndGasGatheringAssets_336F3E7CDC4C714C312AA2829A10438B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Midstream service assets</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentGross_F3CCBE532FFF6F03AD71A2829A100A04_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentGross_F3CCBE532FFF6F03AD71A2829A100A04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Gross</link:label>
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    <link:label id="lab_lpi_AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment_07A57B1A1419E7D0CBEAA2829A102CCE_negatedTerseLabel_en-US" xlink:label="lab_lpi_AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment_07A57B1A1419E7D0CBEAA2829A102CCE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less accumulated depletion, depreciation, amortization and impairment</link:label>
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    <link:label id="lab_lpi_AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment_07A57B1A1419E7D0CBEAA2829A102CCE_documentation_en-US" xlink:label="lab_lpi_AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment_07A57B1A1419E7D0CBEAA2829A102CCE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cumulative amount of depreciation, depletion, amortization and impairment (related to property, plant and equipment, but not including land) that has been recognized in the income statement.</link:label>
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