Benzinga | May 20, 2021 04:43PM EDT

Oasis Petroleum Updates 2021 Guidance

The following table presents previously announced FY21 guidance and updated guidance for both FY21 and 2Q21:

February FY21 May 3 FY21 Updated FY21 Updated 2Q21 E&P Metric(1) Guidance Guidance Guidance Guidance

Production 57.0 ? 60.0 67.5 ? 71.0 63.5 ? 66.5 52.0 ? 55.0 (MBoe/d)

Production 37.5 ? 39.5 44.5 ? 47.0 41.5 ? 43.5 33.5 ? 35.5 (Mbbl/d)

Differential to NYMEX WTI $2.00 - $3.00 $1.50 ? $2.75 $1.75 ? $2.75 $1.75 ? $2.75 ($ per Bbl)

Natural gas realized 100% 110% 120% 125% price (as a % of Henry Hub)

E&P LOE ($ $9.50 ? $10.50 $9.50 ? $10.50 $9.25 ? $10.25 $10.50 ? $11.50per Boe)

E&P GPT ($ $4.00 ? $4.25 $3.75 ? $4.00 $4.10 ? $4.40 $3.75 ? $4.00 per Boe)(2)

E&P Cash G&A $42 ? $45 $43 ? $46 $42 ? $45 $9.5 ? $11.5 ($MM)(3)

Production taxes (as a % 7.2% ? 7.4% 7.1% ? 7.3% 7.4% ? 7.6% 7.1% ? 7.3% of oil and gas revenues)

E&P & Other $225 ? $235 $230 ? $245 $215 ? $230 $75 ? $90 CapEx(4)

Cash Interest $9 ? $10 $28 ? $31 $21 ? $24 $2.0 ? $4.0 ($MM)

Cash taxes $14 ? $26 $20 ? $36 $15 ? $29 $19 ? $23 ($MM)(5)







(1)E&P metrics are non-GAAP financial measures. Please see "Non-GAAP Financial Measures" below

Excludes effect of non-cash valuation charges on pipeline imbalances and (2)benefits from midstream segment for crude oil gathering and transportation services.

(3)Excludes non-cash equity-based compensation expenses included in the E&P segment.

(4)Includes well services and administrative capital and excludes estimated capitalized interest.

Reflects $50/bbl ? $60/bbl WTI, $2.50/mmBtu NYMEX gas, and $6MM in cash (5)taxes associated with the midstream simplification transaction. 2Q21 guidance reflects expected cash taxes to be paid.