Decreasing Oasis FVE After Incorporating Modestly Higher Bakken Decline Rates
We are trimming our fair value estimate for Oasis to $4 per share after a second pass at the firm's first-quarter financial and operating results. That means--in light of the recent slump in crude prices--that it is one of the few exploration and production firms that does not currently look undervalued (see "Most E&Ps Undervalued After Slump in Oil Prices").As a reminder, the firm remains on track to hit its 2019 production and capital targets with one quarter now in the bag. Output in the...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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