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Acquisition Acquisition (Tables) | 6 Months Ended
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Jun. 30, 2018
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The following table summarizes the consideration paid for the Company’s acquisition and the fair value of the assets acquired and liabilities assumed as of the acquisition date. The purchase price allocation is preliminary and subject to adjustment, as the final closing statement was finalized in July 2018, subsequent to the second quarter of 2018.
| At February 14, 2018
| (In thousands)
Consideration paid to Forge Energy: |
Cash | $ | 549,770 |
Common stock: 46,000,000 shares issued | 371,220 |
| $ | 920,990 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |
Proved developed properties | $ | 110,735 |
Proved undeveloped properties | 167,170 |
Unproved lease acquisition costs | 644,040 |
Inventory | 293 |
Intangible assets | 1,000 |
Asset retirement obligations | (2,248 | )
| $ | 920,990 |
Pro Forma Information | Summarized below are the consolidated results of operations for the three and six months ended June 30, 2018, on an unaudited pro forma basis, as if the acquisition and related financing had occurred on January 1, 2017. The unaudited pro forma financial information was derived from the historical consolidated statements of operations of the Company and the statement of revenues and direct operating expenses for the Permian Basin Acquisition properties, which were derived from the historical accounting records of Forge Energy. The unaudited pro forma financial information does not purport to be indicative of results of operations that would have occurred had the acquisition and related financing occurred on the basis assumed above, nor is such information indicative of the Company’s expected future results of operations.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (In thousands) |  | (In thousands)
| Unaudited |  | Unaudited
Revenues | $ | 501,337 |  |  | $ | 262,991 |  |  | $ | 928,082 |  |  | $ | 553,073 |
Net income attributable to Oasis | (320,204 | ) |  | 23,877 |  |  | (315,073 | ) |  | 51,785 |
Net income attributable to Oasis per share: |  |  |  |  |  |  |
Basic | $ | (1.02 | ) |  | $ | 0.09 |  |  | $ | (1.01 | ) |  | $ | 0.19 |
Diluted | (1.02 | ) |  | 0.08 |  |  | (1.00 | ) |  | 0.18 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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