Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure | Drilling Activity | Capital Expenditure - 2020
Oasis Cuts 2020 Spending by 16% YOY; Details Preliminary Q4 Results
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Oasis Petroleum Inc. reported its Q4 2019 results as well as its preliminary 2020 capital outlook.
2020 PlansThe company only reported its plans for spending at $700-730MM (down 16% from 2019). Well plans and production outlook will likely be detailed in its Q4 report in late February.
Oasis did note that it expects YOY increases in oil output for 2020.
Preliminary 2020 Highlights:
Oasis expects 2020 consolidated CapEx, excluding capitalized interest, of $700-730 million, a reduction of 5% from November expectations of approximately $750 million. 4Q20 oil volumes are expected to be a mid-single-digits percentage increase from 4Q19 levels.Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer, said: "We enter 2020 with a focused plan to deliver mid-single-digit volume growth…
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