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07.11.2016 22:55
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PR Newswire
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Oasis Petroleum Inc. Announces Quarter Ended September 30, 2016 Earnings
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PR Newswire
HOUSTON, Nov. 7, 2016
HOUSTON, Nov. 7, 2016 /PRNewswire/ -- Oasis Petroleum Inc. (NYSE: OAS) ("Oasis" or the "Company") today announced financial results for the quarter ended September 30, 2016 and provided an operational update.
Highlights include:
- Produced 48,509 Boepd in the third quarter of 2016.
- Total capital expenditures ("CapEx") were $78.5 million and $297.7 million for the three and nine months ended September 30, 2016, respectively, in line with the Company's 2016 CapEx plan.
- Net cash provided by operating activities was $123.4 million for the three months ended September 30, 2016. Adjusted EBITDA for the Company was $104.4 million in the third quarter of 2016. For a definition of Adjusted EBITDA and a reconciliation of net income (loss) and net cash provided by (used in) operating activities to Adjusted EBITDA, see "Non-GAAP Financial Measures" below.
"Oasis continues to increase shareholder value by further improving capital efficiency and acquiring assets that allow us to best leverage our operating expertise," said Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer. "With well costs of $5.2 million and Wild Basin type curves of 1,550 Mboe, we are positioned to grow volumes considerably across 2017 and 2018."
Operational and Financial Update
Select operational and financial statistics are in the following table:
| | Quarter Ended: | ||||||||||
| | 9/30/2016 | | 6/30/2016 | | 9/30/2015 | ||||||
| Production data: | | | | | | ||||||
| Oil (Bopd) | 39,439 | | | 41,176 | | | 44,318 | | |||
| Natural gas (MMcfpd) | 54,421 | | | 49,983 | | | 37,366 | | |||
| Total production (Boepd) | 48,509 | | | 49,507 | | | 50,546 | | |||
| Percent Oil | 81 | % | | 83 | % | | 88 | % | |||
| Average sales prices: | | | | | | ||||||
| Oil, without derivative settlements (per Bbl)(1) | $ | 40.54 | | | $ | 40.81 | | | $ | 41.61 | |
| Differential to NYMEX West Texas Intermediate crude oil index prices ("WTI") (per Bbl) | 4.39 | | | 4.85 | | | 4.82 | | |||
| Oil, with derivative settlements (per Bbl)(1)(2)(3) | 43.79 | | | 48.94 | | | 60.77 | | |||
| Derivative settlements - net cash receipts (in millions)(3) | 11.8 | | | 30.5 | | | 78.1 | | |||
| Natural gas (per Mcf)(4) | 1.84 | | | 1.42 | | | 1.63 | | |||
| Revenues ($ in millions): | | | | | | ||||||
| Oil | $ | 149.0 | | | $ | 152.9 | | | $ | 169.7 | |
| Natural gas | 9.2 | | | 6.4 | | | 5.6 | | |||
| Well services ("OWS") | 10.6 | | | 12.8 | | | 15.4 | | |||
| Midstream services ("OMS") | 8.5 | | | 6.9 | | | 6.6 | | |||
| Total revenues | $ | 177.3 | | | $ | 179.0 | | | $ | 197.2 | |
| OWS and OMS operating expenses ($ in millions): | | | | | | ||||||
| OWS | $ | 5.5 | | | $ | 7.1 | | | $ | 8.5 | |
| OMS | 2.6 | | | 1.7 | | | 1.5 | | |||
| Select operating expenses: | | | | | | ||||||
| LOE ($ per Boe) | $ | 8.00 | | | $ | 7.00 Werbung Mehr Nachrichten zur Oasis Petroleum Aktie kostenlos abonnieren
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