Oasis’s crude oil production
Crude Oil (USO) represented ~83% of Oasis Petroleum’s (OAS) total production in 2Q16. Its share as a percentage of Oasis’s total production has declined since 4Q15, before which it was hovering around ~89% on an average.
Whiting Petroleum’s (WLL) and PDC Energy (PDCE) 2Q16 crude oil production mixes were 71% and 38%, respectively. Notably, these companies make up ~1% of the iShares US Oil & Gas Exploration & Production ETF (IEO).
As you can see in the above graph, along with Oasis’s oil production percentage, its total production has also declined since 4Q15.
But how has Oasis been benefitting from its use of hedges? Continue to the next part of this series to find out.