Oasis Petroleum Inc. - Ordinary Shares - New

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Oasis Petroleum Announces Strategic Acquisition Of Williston Basin Assets, Reports Q1 2021 Results

Published: 05/03/2021 22:03 GMT
Oasis Petroleum Inc. - Ordinary Shares - New (OAS) - .
Announces Strategic Acquisition of Williston Basin Assets, Reports First Quarter 2021 Results, Declares Dividend and Updates 2021 Outlook.
Deal for Approximately $745mm.
Oasis Petroleum - Consideration Expected to Be Financed Through Cash on Hand, Revolver Borrowings, $500 Million Fully Committed Underwritten Bridge Loan.
Assets Purchased Include Approximately 27 Mboe/d of Production in 1q21 on a Two-stream Basis and 95,000 Net Acres.
Deal Accretive to Cash Flow per Share and Free Cash Flow per Share in Both Near and Long-term Before Accounting for Synergies.
2021 Non-d&c Capex Expected to Increase Approximately $5mm - $10mm.
Now Expecting in Excess of $200mm of Free Cash Flow in 2021.2q21 Volumes Are Expected to Be 52-55 Mboe/d (65% Oil), in Line With Prior Expectations.
2q21 E&p Capex is Expected to Be $75mm - $90mm Reflecting Deferred 1q21 Spending.
Qtrly Production 57.2 Mboe/d.
Qtrly Total Revenues $355.4 Million Versus $ 387.8 Million.
Qtrly Loss per Share $2.20.
Q1 Earnings per Share View $2.56, Revenue View $225.0 Million -- Refinitiv Ibes Data (analyst estimates).