Morningstar

Morningstar, Inc.

Equity Bottom-Up

Oasis Petroleum is a shale producer with assets in North Dakota and Texas. The company has been active in the Williston Basin since its inception in 2007, and this area is still its primary focus. Initial production rates are very impressive in the "core" portion of its acreage, which breaks even under $40 per barrel WTI and contains enough potential drilling locations to support at least 10 years of further drilling. The remainder offers more-pedestrian economics.Concurrently, the company is…

Oasis remains on track to hit its 2019 production and capital targets with one quarter now in the bag, and there is no change to our fair value or no-moat rating
The firm delivered production of 91.7 mboe/d in the first quarter, which was 4% higher sequentially and 19% higher year over year. The firm’s financial results were mixed, with adjusted EBITDA and adjusted earnings per share coming in at $269 million and negative $0.02, respectively (consensus estimates were $236 million and $0.04).…

United States

Oasis Petroleum Inc., is an independent exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources.

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