Oasis Delivers Strong 1Q but Vulnerable If Our Bearish Oil Thesis Plays Out
Oasis delivered production of 77 thousand barrels of oil equivalent per day in the first quarter, which was 5% higher sequentially and 22% higher year over year. This was at the high end of previous guidance, putting the firm on track to beat its previous exit rate forecast of 88 mboe/d. Management also increased full-year guidance slightly, and at the midpoint of 82.5 mboe/d its new forecast range for 2018 is consistent with annual growth of 26%. The firm's financial results were also slightly ...Oasis Petroleum is an independent exploration and production company focused on the acquisition and development of onshore, unconventional oil and natural gas resources. The company's subsidiaries, Oasis Petroleum North America LLC and Oasis Petroleum Permian LLC conduct the company's exploration and production activities and own its proved and unproved oil and natural gas properties located in the North Dakota and Montana regions of the Williston Basin and the Texas region of the Delaware Basin, respectively. The company operates a midstream services business through its subsidiary, OMS Holdings LLC. The company also operates a well services business through its subsidiary, Oasis Well Services LLC.
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