Oasis Petroleum (OAS) Tops Q2 EPS by 3c, Revenues Beat

Oasis Petroleum (NYSE: OAS) reported Q2 EPS of $0.10, $0.03 better than the analyst estimate of $0.07. Revenue for the quarter came in at $501.4 million versus the consensus estimate of $390.92 million.

"Oasis delivered another strong quarter and has taken steps to position itself for an impressive exit to 2018," said Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer. "Our full field development activities in the Williston are on plan and we are expanding outside of Wild Basin with impressive results. The team executed on a program to divest non-core assets which improved the balance sheet and allowed us to capture incremental value by drilling our core inventory in the Williston Basin, as evidenced by our increased guidance across the board. The measured approach to our Delaware operational plan has played out as expected, and well results are exceeding expectations. With assets focused on two of the best oil basins in the US, a team with a proven operating track record, and exceptional realizations in the Williston Basin, Oasis expects to be free cash flow positive on its E&P business in 2018 and in 2019."

For earnings history and earnings-related data on Oasis Petroleum (OAS) click here.

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