$CHRD

Oasis Petroleum Inc.

CIK:0001486159|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 2,172,685	$ 1,180,560	$ 3,838,320	$ 2,395,606
Operating expenses
Lease operating expenses	267,839	256,966	512,748	490,040
Gathering, processing and transportation expenses	62,765	74,100	129,783	147,415
Purchased oil and gas expenses	671,661	231,745	1,181,493	343,113
Production taxes	125,878	68,965	212,589	143,607
Depreciation, depletion and amortization	409,237	376,997	793,452	726,806
General and administrative expenses	29,894	32,540	67,402	70,917
Impairment and exploration	2,687	541,940	5,250	543,923
Total operating expenses	1,569,961	1,583,253	2,902,717	2,465,821
Gain (loss) on sale of assets, net	(4)	(522)	339	4,993
Operating income (loss)	602,720	(403,215)	935,942	(65,222)
Other income (expense)
Net gain (loss) on derivative instruments	107,866	82,231	(133,605)	61,950
Net gain (loss) from investment in equity securities	1,143	(962)	23,972	(5,862)
Interest expense, net of capitalized interest	(26,663)	(18,788)	(53,259)	(34,606)
Loss on debt extinguishment	0	0	0	(3,494)
Other income, net	2,186	5,045	8,515	4,546
Total other income (expense), net	84,532	67,526	(154,377)	22,534
Income (loss) before income taxes	687,252	(335,689)	781,565	(42,688)
Income tax expense	(162,066)	(54,216)	(147,771)	(127,380)
Net income (loss)	$ 525,186	$ (389,905)	$ 633,794	$ (170,068)
Earnings (loss) per share (Note 15):
Basic (in dollars per share)	$ 9.30	$ (6.71)	$ 11.17	$ (2.89)
Diluted (in dollars per share)	$ 9.28	$ (6.77)	$ 11.14	$ (2.93)
Weighted average shares outstanding:
Basic (in shares)	56,010	57,786	56,361	58,420
Diluted (in shares)	56,605	57,786	56,909	58,501
Oil, NGL and gas revenues
Revenues
Total revenues	$ 1,494,284	$ 950,266	$ 2,644,873	$ 2,053,690
Purchased oil and gas sales
Revenues
Total revenues	$ 678,401	$ 230,294	$ 1,193,447	$ 341,916

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net income (loss)	$ 525,186	$ (389,905)	$ 633,794	$ (170,068)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization			793,452	726,806
Loss on debt extinguishment	0	0	0	3,494
Gain on sale of assets			(339)	(4,993)
Impairment			30	539,318
Deferred income taxes			41,113	49,050
Net (gain) loss on derivative instruments	(107,866)	(82,231)	133,605	(61,950)
Net (gain) loss from investment in equity securities	(1,143)	962	(23,972)	5,862
Equity-based compensation expenses			16,814	12,997
Settlement of asset retirement obligations			(17,935)	(13,671)
Deferred financing costs amortization and other			(12,048)	2,374
Working capital and other changes:
Change in accounts receivable, net			(243,018)	4,479
Change in inventory			(5,866)	(5,738)
Change in prepaid expenses			4,092	5,463
Change in accounts payable, interest payable and accrued liabilities			284,756	(20,031)
Change in other assets and liabilities, net			19,143	3,311
Net cash provided by operating activities			1,623,621	1,076,703
Cash flows from investing activities:
Capital expenditures			(755,502)	(704,388)
Acquisitions			(8,680)	(26,191)
Proceeds from divestitures			326	6,921
Derivative settlements			(88,750)	14,090
Contingent consideration received			25,000	25,000
Distributions from investment in equity securities			4,882	6,786
Contributions to investments			(7,851)	0
Net cash used in investing activities			(830,575)	(677,782)
Cash flows from financing activities:
Proceeds from revolving credit facility			85,000	2,435,000
Principal payments on revolving credit facility			(85,000)	(2,700,000)
Repayment and discharge of senior notes			0	(401,432)
Issuance of senior notes			0	750,000
Deferred financing costs			0	(13,443)
Repurchases of common stock			(217,677)	(274,014)
Tax withholding on vesting of equity-based awards			(4,557)	(21,793)
Dividends paid			(147,683)	(168,846)
Payments on finance lease liabilities			(1,092)	(856)
Net cash used in financing activities			(371,009)	(395,384)
Increase in cash and cash equivalents			422,037	3,537
Cash and cash equivalents:
Beginning of period			189,531	36,950	$ 36,950
End of period	611,568	40,487	611,568	40,487	$ 189,531
Supplemental cash flow information:
Cash paid for income taxes	67,400	32,100	88,382	66,098
Supplemental non-cash transactions:
Change in accrued capital expenditures			3,380	(3,950)
Change in asset retirement obligations			3,491	100,632
Change in dividends payable	$ 776	$ 973	$ 776	$ 973

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 611,568	$ 189,531
Accounts receivable, net	1,338,031	1,116,685
Inventory	121,409	115,713
Prepaid expenses	29,201	33,767
Derivative instruments	49,588	77,312
Other current assets	5,274	5,061
Total current assets	2,155,071	1,538,069
Property, plant and equipment
Oil and gas properties (successful efforts method)	15,627,693	14,848,968
Other property and equipment	60,493	60,395
Less: accumulated depreciation, depletion and amortization	(4,349,525)	(3,572,834)
Total property, plant and equipment, net	11,338,661	11,336,529
Derivative instruments	10,091	8,366
Investment in equity securities	138,789	119,698
Long-term inventory	26,073	30,759
Operating right-of-use assets	10,463	12,749
Other assets	38,240	28,104
Total assets	13,717,388	13,074,274
Current liabilities
Accounts payable	151,908	41,795
Revenues and production taxes payable	817,402	618,258
Accrued liabilities	706,836	735,386
Accrued interest payable	28,193	28,594
Derivative instruments	16,070	0
Current operating lease liabilities	7,589	14,656
Other current liabilities	36,670	11,898
Total current liabilities	1,764,668	1,450,587
Long-term debt	1,481,357	1,479,581
Deferred tax liabilities	1,656,962	1,615,850
Asset retirement obligations	432,030	432,802
Derivative instruments	2,786	0
Operating lease liabilities	13,854	10,518
Other liabilities	8,392	4,982
Total liabilities	5,360,049	4,994,320
Commitments and contingencies (Note 16)
Stockholders’ equity
Common stock, $0.01 par value: 240,000,000 shares authorized, 67,249,231 shares issued and 55,197,317 shares outstanding at June 30, 2026; and 240,000,000 shares authorized, 67,150,747 shares issued and 56,762,243 shares outstanding at December 31, 2025	676	675
Treasury stock, at cost: 12,051,914 shares at June 30, 2026 and 10,388,504 shares at December 31, 2025	(1,524,300)	(1,304,092)
Additional paid-in capital	7,351,992	7,339,735
Retained earnings	2,528,971	2,043,636
Total stockholders’ equity	8,357,339	8,079,954
Total liabilities and stockholders’ equity	$ 13,717,388	$ 13,074,274