Oasis: 2Q Earnings Snapshot
HOUSTON (AP) _ Oasis Petroleum Inc. (OAS) on Monday reported a second-quarter loss of $320.2 million, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of $1.02 per share. Earnings, adjusted for one-time gains and costs, were 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The oil and gas exploration and production company posted revenue of $501.3 million in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $394.3 million.
Oasis shares have increased 50 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.61, an increase of 57 percent in the last 12 months.