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Oasis Petroleum’s 4Q15 Earnings: In Line with Analyst Estimates

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Oasis Petroleum’s 4Q15 revenue

Oasis Petroleum (OAS) reported its fiscal 4Q15 earnings on February 24, 2016. The company announced adjusted revenue of ~$261 million. The consensus Wall Street estimate for revenue was ~$263 million. The 4Q15 revenue was ~13% lower than the 4Q14 revenue of ~$300 million.

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Oasis Petroleum’s 4Q15 earnings

OAS’s 4Q15 adjusted EPS (earnings per share) was $0.05. The consensus Wall Street estimate for EPS was ~$0.06. Its 4Q14 EPS was $0.35. OAS posted better earnings than most of its peers in 1H15 despite a low energy price environment. However, as crude oil prices fell in 2H15 and dipped below $40 per barrel in 4Q15, OAS’s earnings took a hit as did many other upstream companies.

Upstream peers Hess (HES) and Anadarko Petroleum (APC) reported 4Q15 losses per share of ~$1.40 and $0.57, respectively. Marathon Oil (MRO) posted a 4Q15 loss per share of ~$0.48. All these companies make up ~4% of the Vanguard Energy ETF (VDE).

Oasis Petroleum’s 2015 earnings and revenue

For fiscal 2015, OAS reported adjusted EPS of $0.72. The comparable EPS in 2014 was $2.22 per share.

OAS’s 2015 revenue came in at ~$1.2 billion. Comparable revenue in 2014 was ~$1.4 billion.

OAS’s proved reserves

OAS’s estimated net proved reserves at the end of 2015 were 218.2 million MMboe (barrels of oil equivalent). This compares to 272.1 MMboe at the end of 2014.

In the next part of this series, we’ll look at Oasis Petroleum’s 2015 operational highlights and 2016 guidance.

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