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Oasis Turns on Taps at 17 Gross Wells in Q3; Ups Guidance
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Oasis Petroleum has updated its Q3 activity as well as updated its 2016 guidance.
Key Points:Average daily production of 48,509 barrels of oil equivalent per day in the third quarter of 2016 (81% oil) and increased full-year 2016 stand-alone Company guidance of 49,300 to 50,000 Boepd. Completed and placed on production 17 gross (7.1 net) operated wells during the third quarter of 2016. As of September 30, 2016, the Company had 80 gross operated wells awaiting completion. Completed $300 million public offering of senior unsecured convertible notes due 2023 and $367 million tender of existing senior notes, reducing annualized cash interest by approximately $17 million. Estimated capital expenditures were between $76 million and $81 million for the third quarter of 2016. Q3 2016 Production
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