On Wednesday, Shares of Oasis Petroleum Inc. (NYSE:OAS), lost -2.68% to $8.35, hitting its lowest level.
Oasis Petroleum declared financial results for the quarter ended June 30, 2015 and offered an operational update.
Highlights comprise:
- Exceeded production guidance range and raised average daily production to 50,261 barrels of oil equivalent per day (“Boepd”), a 15% enhance over the second quarter of 2014.
- Accomplished and placed on production 21 gross (18.5 net) operated and 1.2 net non-operated wells in the second quarter of 2015.
- Total capital expenditures (“CapEx”) were $170.4 million, in line with the Company’s plan, for the three months ended June 30, 2015.
- Reduced lease operating expenses (“LOE”) per barrel of oil equivalent (“Boe”) to $8.26, a 19% decrease from the second quarter of 2014 and a 4% sequential quarter decrease.
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.
Shares of Newfield Exploration Co. (NYSE:NFX), declined -0.31% to $32.55, during its last trading session.
Newfield Exploration Company offered a detailed operational update on its STACK drilling program in the Anadarko Basin. In addition, Newfield stated its unaudited second quarter 2015 financial results.
Second Quarter 2015 Results
2015 Production Guidance and Capital Investments
- Newfield raised its 2015 domestic production guidance to 48.5 – 50.0 MMBOE (previous mid-point was 48.5 MMBOE). Total company net production guidance is predictable to be 53. 5 – 55.0 MMBOE.
- The Company’s 2015 capital budget was raised to $1.4 billion (previous budget was $1.2 billion). The enhance relates to the recent addition of about 20,000 net acres in the Anadarko Basin, the quickening pace of drilling in SCOOP and STACK and the planned drilling and completion of 15 additional wells in STACK. Outside of the Anadarko Basin, the Company’s 2015 planned investments remain unchanged.
- Additional planned drilling in STACK will reduce lease renewal costs by about $40 million. Newfield now anticipates its fourth quarter 2015 average net production in the Anadarko Basin to be more than 71,000 BOEPD (previous guidance was 68,000 BOEPD).
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids.
Finally, Coeur Mining, Inc. (NYSE:CDE), ended its last trade with -8.62% loss, and closed at $2.97, hitting its lowest level.
Coeur Mining stated second quarter 2015 revenue of $166.3 million, adjusted EBITDA 1 of $34.7 million, adjusted net loss of $0.11 per share, and cash flow from operating activities of $36.9 million. Adjusted costs applicable to sales per silver equivalent ounce of $12.56 declined 8% from the first quarter. Adjusted all-in sustaining costs declined 6% from the first quarter to $16.60 per silver equivalent ounce, the lowest level in over two years of reporting this metric.
Second Quarter 2015 Highlights
- Silver production was 4.3 million ounces and gold production was 80,855 ounces, or 9.1 million silver equivalent 1 ounces, a 13% enhance as formerly declared on July 9, 2015
- Adjusted costs applicable to sales were $12.56 and adjusted all-in sustaining costs were $16.60 per silver equivalent ounce, the lowest level since Coeur began reporting this metric in 2013
- Adjusted costs applicable to sales per gold ounce at Kensington of $745 fell 7% from the first quarter
- Adjusted costs applicable to sales per silver equivalent ounce at Palmarejo declined 9% from the first quarter to $13.21
- Adjusted costs applicable to sales per silver equivalent ounce at Rochester were $12.01, down 7% from the first quarter
- Adjusted costs applicable to sales per silver ounce at San Bartolomé dropped 8% from the first quarter to $13.26.
Coeur Mining, Inc., through its auxiliaries, engages in the ownership, operation, exploration, and development of silver and gold mining properties primarily in the United States, Mexico, Bolivia, Argentina, Australia, Ecuador, Chile, and New Zealand.
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