Oasis Petroleum Inc. Announces First Quarter 2020 Results and Updates 2020 Outlook
Oasis Petroleum Inc. (OAS)
Last oasis petroleum inc. earnings: 2/25 05:28 pm
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Source: PR Newswire
HOUSTON, May 18, 2020 /PRNewswire/ -- Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis" or the "Company") today announced financial and operating results for the first quarter of 2020 and updated its 2020 outlook. 1Q20 Highlights:Delivered net cash provided by operating activities of $107.8 million and Adjusted EBITDA(1) of $167.0 million in 1Q20. Produced 80.1 MBoepd in 1Q20, 2% above midpoint guidance, with oil volumes at 54.1 MBopd, 1% above midpoint guidance. E&P CapEx(2) was $151.3 million for 1Q20, more than 10% below the Company's February 2020 guidance. LOE per Boe decreased 6% to $6.83 per Boe in 1Q20 as compared to $7.26 per Boe in 4Q19. Crude oil differentials were solid over 1Q20, averaging $3.19 off of NYMEX WTI. Reduced the total principal of the Company's senior unsecured notes by $156.8 million during the quarter to $1,825.8 million as of March 31, 2020. Total G&A expense and E&P Cash G&A(1) expense decreased by approximately 10% and 12%, respectively, from 1Q19.Updated 2020
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