Oasis Petroleum +6% after easily beating Q2 earnings, revenues [Seeking Alpha]
Oasis Petroleum Inc. (OAS)
Last oasis petroleum inc. earnings: 2/25 05:28 pm
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oasispetroleum.com/investors
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Source: Seeking Alpha
Oasis Petroleum ( OAS ) opens sharply higher after soundly beating expectations for both Q2 earnings and revenues and raising full-year production guidance. Q2 production rose 28% Y/Y to 79.4K boe/day (76% oil), in-line with company guidance, and OAS completed and placed on production 37 gross (27.8 net) operated wells during the quarter, including 35 gross (25.8 net) operated wells in the Williston Basin. OAS raises FY 2018 production guidance to 83K-84.5K boe/day, a 4% increase at the midpoint from previous guidance of 79K-82K boe/day, and expects Q4 production of 91K-94K boe/day, up 10% from prior guidance at the midpoint. OAS also increases its 2018 planned capex to $900M-$930M from $815M-$855M previously, focused on the Williston Basin where it says infrastructure is yielding attractive realized oil and gas pricing. With 95% of the company's volumes produced from the Williston Basin during Q2, OAS says it is well positioned to capture value during a period
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