After market close yesterday, Oasis Petroleum Inc. (
|Average Daily Production for the Quarter Ended (Boepd):|
|Project Area||Jun 30, 2012||Mar 31, 2012||Change||% Change|
The numbers bode well for Oasis outlook as well. Average daily production for the second quarter of 2012 was 20,353 Boepd, an increase of 158% as compared to 7,893 Boepd in the second quarter of 2011. Sequential quarter-over-quarter average daily production increased 2,720 Boepd, or 15%. In the second quarter of 2012, 91% of production was from oil. More importantly, the company raised the outlook for Q3 to 22,000 to 24,000 Boepd. In early morning trading the stock was up more than 10% and could easily test $32 in the next week based on upward guidance. The year over year eps growth of 40+% and forward PE on the stock is currently around 10 which makes it an attractive target for acquisition.