OAS - OAS STOCK NEWS

Chord Energy Corporation has successfully merged Whiting Petroleum and Oasis Petroleum, creating a major U.S. oil producer with a strong position in the Williston Basin. This merger consolidates around 972,000 net acres and achieved a combined production of 171.1 thousand boepd. Chord anticipates significant cost savings and plans to distribute 60% of its free cash flow to shareholders, bolstered by a solid balance sheet and low net debt-to-EBITDAX ratio of 0.2x. The new stock will trade under the ticker 'CHRD' starting July 5, 2022.

Oasis Petroleum has announced a $15.00 special dividend per share, conditional on the successful closing of its merger with Whiting Petroleum (NYSE: WLL). This dividend will be payable to Oasis shareholders of record after both companies' shareholders approve the merger on June 28, 2022. The merger is anticipated to close by July 1, 2022, with dividends distributed on July 8, 2022. However, there are no guarantees that all conditions will be met for the merger to proceed on schedule.

Oasis Petroleum reported strong operational results for Q1 2022, producing 69.6 MBoepd, exceeding guidance. E&P CapEx was $62.9MM, lower than expected, and cash G&A was also below guidance after accounting for $4.1MM in transaction costs. Net cash provided by operations was $265.6MM, while net loss from continuing operations was $19.6MM. Adjusted EBITDA stood at $287.4MM, and adjusted free cash flow reached $217.5MM. Oasis declared both base ($0.585) and variable ($2.94) dividends for shareholders. The merger with Whiting Petroleum is expected to close in Q3 2022.

Oasis Petroleum Inc. (Nasdaq: OAS) plans to announce its First Quarter 2022 financial results on May 4, 2022, at market close. A live webcast and conference call will follow on May 5, 2022, at 10:00 a.m. Central Time to discuss the results. Investors can access the webcast via Oasis's website. Additionally, the company will participate in several energy conferences in May and June 2022, including the Citi Global Energy & Utilities Conference on May 11 and the Wells Fargo Energy Conference on June 1.

Oasis Petroleum Inc. (NASDAQ: OAS) declared its first variable dividend of $3.00 per share, payable on March 31, 2022, to shareholders on record as of March 21, 2022. This is part of a plan to return $70 million of capital to shareholders quarterly. In Q2 2022, the company anticipates a base dividend of $0.585 per share, complemented by variable dividends as it prepares for a merger with Whiting Petroleum. Post-merger, the goal is to target a 60% return of capital from free cash flow.

Whiting Petroleum (WLL) and Oasis Petroleum (OAS) have announced a merger of equals, creating a premier operator in the Williston Basin. The combined company will span 972K net acres and produce 167.8 thousand boepd. Whiting shareholders will receive 0.5774 Oasis shares and $6.25 per share. This transaction boasts an enterprise value of ~$6B and aims to deliver $65MM in annual cost synergies. The merger is expected to enhance free cash flow generation, targeting $1.2B in 2022 with a commitment to shareholder returns through dividends.

Oasis Petroleum reported strong financial results for Q4 and FY2021. Average daily production reached 68.8 MBoepd in Q4, with oil volumes at 44.4 MBopd. Notable financial metrics include net income of $225.9MM and Adjusted EBITDA of $200.8MM. The company increased its base dividend by 17% to $0.585/share, payable on March 4, 2022. With a pro forma net debt of $67.9MM, Oasis maintains a strong financial position and has completed a $100MM share repurchase program.

Oasis Petroleum announced its return of capital plan, committing to return $280MM to shareholders over the next year through increased dividends and share repurchases. The board raised the quarterly base dividend by 17% to $0.585 per share. In 4Q21, Oasis produced 68.8 MBoepd and reported CapEx at $45MM-$47MM, which was 29% below guidance. The company projected $860MM EBITDA in 2022 and planned to reinvest 40% of cash flow. Preliminary 4Q21 results indicate strong cash flow and a $150MM share repurchase program authorized. The conference call will be held on February 10, 2022.