Oasis' Third-Quarter Financials Slightly Below Expectations; Wild Basin Productivity Remains Strong
Oasis Petroleum delivered production of 48.5 mboe/d in the third quarter, which was 2% lower sequentially and 4% lower year over year. That drove adjusted EBITDA to $104 million, which was slightly lower than the consensus $113 million estimate. Adjusted earnings per share was broadly in line with Street expectations, though, at negative $0.17.The company started completing wells in its current focus project, the Wild Basin, at the end of the second quarter. This was slightly ahead of the compa...
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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