Oasis Petroleum Inc. Reports Third Quarter 2021 Results, Reiterates 2021 Outlook
Oasis Petroleum Inc. (OAS)
Last oasis petroleum inc. earnings: 2/25 05:28 pm
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Source: PR Newswire
HOUSTON, Nov. 3, 2021 /PRNewswire/ -- Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis" or the "Company") today announced financial and operating results for the third quarter of 2021. Third quarter results are consistent with the update released on October 26, 2021. 3Q21 Operational and Financial Highlights:Produced 51.8 MBoepd in 3Q21 with oil volumes of 31.9 MBopd; E&P CapEx was $42MM, greater than 20% below guidance. Oasis reduced its FY21 CapEx guidance on October 26th by 9%, which followed the 7% reduction in August; Net cash provided by operating activities was $294MM and net income was $83MM; Adjusted EBITDA to Oasis(1) was $116MM and E&P Free Cash Flow(1) was $65MM; As of 9/30/2021, pro forma for the Williston Basin Acquisition, Oasis had approximately $92MM of net debt, including approximately $308MM of cash, $400MM of long-term debt and no amounts drawn on its $900MM borrowing base ($450MM of elected commitments); Oasis expects to receive an additional $160MM of cash upon closing
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