Oasis Petroleum Q2 net income down

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23 August 2014, Oil, LPG

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Total revenues for the second quarter ended June 30, 2014 were $372.38 million, compared to $254.58 million for the same quarter ended June 30, 2013.

Net income for the six months ended June 30, 2014 was $208.79 million, or $2.08 per diluted share, compared to $118.97 million, or $1.28 per diluted share, for the same period ended June 30, 2013.

Total revenues for the six months ended June 30, 2014 were $721.9 million, compared to $502.89 million for the same period ended June 30, 2013.

Thomas Nusz, chairman and CEO of Oasis said: "Oasis continues to execute on its full-year plan to enhance shareholder value through completion technique changes and resource expansion initiatives. Our first slickwater wells in Indian Hills have continued to produce well above our type curve. In addition, early production results from our first Three Forks slickwater well in Red Bank and a slickwater Bakken well in Montana are expanding the completion technique's applicability across more of our inventory. Both of these Oasis wells are producing 35% or more over comparable wells completed with our base completion design."

Source: MarketLine

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