During Thursday’s current trade, Oasis Petroleum Inc (NYSE:OAS)’s shares dropped -2.21%, to $17.23.
Oasis Petroleum Inc (OAS), declared financial results for the quarter ended March 31, 2015 and offered an operational update.
Highlights comprise:
- Exceeded production guidance range and raised average daily production to 50,446 barrels of oil equivalent per day (“Boepd”), an 18% enhance over the first quarter of 2014 and a 1% sequential quarter enhance.
- Invested capital expenditures (“CapEx”) of $271.1 million in the first quarter of 2015, contrast to a CapEx budget of $271.1 million.
- Accomplished and placed on production 23 gross (19.2 net) operated wells in the first quarter of 2015.
- Reduced lease operating expenses (“LOE”) per barrel of oil equivalent (“Boe”) to $8.62, a 17% decrease from the first quarter of 2014 and an 11% sequential quarter decrease.
- Stated Adjusted EBITDA of $208.9 million in the first quarter of 2015. For a definition of Adjusted EBITDA and a reconciliation of net income and net cash offered by operating activities to Adjusted EBITDA, see “Non-GAAP Financial Measures” below.
- Accomplished a public offering of 36.8 million shares, raising $463.1 million of net proceeds for the Company on March 9, 2015.
“Oasis exceeded production guidance of 47,000 to 49,000 Boepd in the first quarter of 2015, as new wells brought on during the first quarter exceeded production expectations with over 60% of the wells accomplished with high intensity stimulation,” said Thomas B. Nusz, Oasis’ Chairman and Chief Executive Officer. “Based on our first quarter performance, we expect to produce between 47,000 and 49,000 Boepd in the second quarter of 2015 and to produce between 46,000 and 49,000 Boepd for the full year 2015. Additionally, CapEx tracked in line with our budget, with drilling and completion capital coming in at $216.6 million, or $8.3 million below our budget. There were some timing differences on a few non-drilling and completion items, and we remain on track to spend our $705 million CapEx budget for 2015. Well costs are trending below our original 2015 estimates, as the team has driven down the cost for high intensity completions to about $9.0 million per well.
“We also continue to enhance our financial flexibility concluding a $463 million equity offering in early March in addition to amending our credit facility to enhance the term to five years and to enhance the committed level to $1.525 billion. We have over $1.3 billion of liquidity even as we drill within cash flow for the remainder of the year,” said Mr. Reid.
Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. The company’s principal projects are located in West Williston and East Nesson. As of December 31, 2014, it had 505,503 net leasehold acres in the Williston Basin; and about 272.1 million barrels of oil equivalent of estimated net proved reserves. The company sells its oil and natural gas to refiners, marketers, and other purchasers that have access to pipeline and rail facilities. Oasis Petroleum Inc. was founded in 2007 and is headquartered in Houston, Texas.
International Business Machines Corp (NYSE:IBM)’s shares jumped 0.91% to $173.85, during the current trading session Thursday’s.
International Business Machines Corp ( IBM), declared that more than 1,000 organizations across 16 industries are participating in its X-Force Exchange threat intelligence network, just one month after its launch. IBM X-Force Exchange provides open access to historical and real-time data feeds of threat intelligence, counting reports of live attacks from IBM’s global threat monitoring network, enabling enterprises to defend against cybercrime.
IBM’s new cloud-based cyberthreat network, powered by IBM Cloud, is designed to foster broader industry joint venture by sharing actionable data to defend against these very real threats to businesses and governments. The company offered free access last month, via the X-Force Exchange, to its 700 terabyte threat database – a volume equivalent to all data that flows across the internet in two days. This comprises two decades of malicious cyberattack data from IBM, in addition to anonymous threat data from the thousands of organizations for which IBM manages security operations. Participants have created more than 300 new collections of threat data in the last month alone.
“Cybercrime has become the equivalent of a pandemic — no company or country can battle it alone,” said Brendan Hannigan, General Manager, IBM Security. “We have to take a collective and collaborative approach across the public and private sectors to defend against cybercrime. Sharing and innovating around threat data is central to battling highly organized cybercriminals; the industry can no longer afford to keep this critical resource locked up in proprietary databases. With X-Force Exchange, IBM has opened access to our extensive threat data to advance partnership and assist public and private enterprises safeguard themselves.”
“Cybercrime continues to grow in sophistication and organization, we understand that there is power in numbers to fight back,” said Rob Bening, Chief Information Security Officer, ING Bank. “Sharing threat information via IBM’s X-Force Exchange initiative is a big step toward better understanding potential attacks and anticipating measures to mitigate them.”
International Business Machines Corporation provides information technology (IT) products and services worldwide. The company’s Global Technology Services segment provides IT infrastructure and business process services, such as outsourcing, processing, integrated technology, cloud, and technology support. Its Global Business Services segment offers consulting and systems integration services for strategy and transformation, application innovation services, enterprise applications, and smarter analytics; and application administration, maintenance, and support services.
In an afternoon trade, Pacific Ethanol Inc (NASDAQ:PEIX)’s shares dwindled -3.21%, to $12.99.
Pacific Ethanol Inc (PEIX), the leading producer and marketer of low-carbon renewable fuels in the Western United States, declared it will take part in two investor conferences in May as follows:
- 12th Annual Craig-Hallum Institutional Investor Conference. CEO Neil Koehler will host one-on-one meetings throughout the day on May 27th. The event will be held at The Depot Renaissance Minneapolis Hotel in Minneapolis, MN.
- Cowen and Company 43rd Annual Technology, Media & Telecom Conference. CEO Neil Koehler will take part in The Closer Examination of Next Generation Bioproduct Technologies Panel at 2:45 PM ET on May 28th, and will host one-on-one meetings throughout the day. The event will be held at The New York Palace Hotel in New York, NY.
Pacific Ethanol, Inc. produces and markets low-carbon renewable fuels in the Western United States. It sells ethanol primarily to gasoline refining and distribution companies. The company also provides ethanol transportation, storage, and delivery services through third-party service providers. In addition, it markets ethanol co-products, counting wet distiller grains and syrup to dairy operators and animal feed distributors; and corn oil to poultry and biodiesel customers.
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