Oasis Petroleum Inc. (NYSE:OAS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Oasis Petroleum Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 14.04% to $0.49 in the quarter versus EPS of $0.57 in the year-earlier quarter.
Revenue: Rose 83.35% to $214.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Oasis Petroleum Inc. reported adjusted EPS income of $0.49 per share. By that measure, the company beat the mean analyst estimate of $0.48. It beat the average revenue estimate of $210.53 million.
Quoting Management: “We more than doubled production for the second straight year, growing 2012 production to 22,469 barrels of oil equivalent per day,” said Thomas B. Nusz, Oasis’ Chairman and Chief Executive Officer. “The team made significant strides during 2012, laying a firm foundation for continued growth into 2013. We were able to attract the human resources, both in upstream and in OWS, who are a key strength that drives the success of Oasis. As we transition into full pad development during 2013, we believe we have the right team in place to plan and execute successfully, especially given the complexities associated with this type of activity.”
Key Stats (on next page)…