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Condensed Consolidating Financial Information (Tables) | 9 Months Ended
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Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| September 30, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands, except share data)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 170 |  |  | $ | 11,732 |  |  | $ | 4,990 |  |  | $ | — |  |  | $ | 16,892 |
Accounts receivable, net | — |  |  | 423,130 |  |  | 5,054 |  |  | — |  |  | 428,184 |
Accounts receivable - affiliates | 653,255 |  |  | 66,153 |  |  | 72,896 |  |  | (792,304 | ) |  | — |
Inventory | — |  |  | 31,409 |  |  | — |  |  | — |  |  | 31,409 |
Prepaid expenses | 617 |  |  | 5,731 |  |  | 96 |  |  | — |  |  | 6,444 |
Intangible assets, net | — |  |  | 375 |  |  | — |  |  | — |  |  | 375 |
Other current assets | — |  |  | 192 |  |  | — |  |  | — |  |  | 192 |
Total current assets | 654,042 |  |  | 538,722 |  |  | 83,036 |  |  | (792,304 | ) |  | 483,496 |
Property, plant and equipment |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 8,679,662 |  |  | — |  |  | (8,518 | ) |  | 8,671,144 |
Other property and equipment | — |  |  | 212,257 |  |  | 876,534 |  |  | (10 | ) |  | 1,088,781 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (2,805,233 | ) |  | (54,555 | ) |  | — |  |  | (2,859,788 | )
Total property, plant and equipment, net | — |  |  | 6,086,686 |  |  | 821,979 |  |  | (8,528 | ) |  | 6,900,137 |
Investments in and advances to subsidiaries | 4,653,951 |  |  | 515,997 |  |  | — |  |  | (5,169,948 | ) |  | — |
Deferred income taxes | 209,919 |  |  | — |  |  | — |  |  | (209,919 | ) |  | — |
Long-term inventory | — |  |  | 12,610 |  |  | — |  |  | — |  |  | 12,610 |
Other assets | — |  |  | 18,207 |  |  | 1,981 |  |  | — |  |  | 20,188 |
Total assets | $ | 5,517,912 |  |  | $ | 7,172,222 |  |  | $ | 906,996 |  |  | $ | (6,180,699 | ) |  | $ | 7,416,431 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 17,182 |  |  | $ | 24 |  |  | $ | — |  |  | $ | 17,206 |
Accounts payable - affiliates | 41,213 |  |  | 726,151 |  |  | 24,940 |  |  | (792,304 | ) |  | — |
Revenues and production taxes payable | — |  |  | 286,897 |  |  | 436 |  |  | — |  |  | 287,333 |
Accrued liabilities | 56 |  |  | 248,097 |  |  | 59,373 |  |  | — |  |  | 307,526 |
Accrued interest payable | 19,855 |  |  | 547 |  |  | 172 |  |  | — |  |  | 20,574 |
Derivative instruments | — |  |  | 180,129 |  |  | — |  |  | — |  |  | 180,129 |
Advances from joint interest partners | — |  |  | 3,878 |  |  | — |  |  | — |  |  | 3,878 |
Other current liabilities | — |  |  | 40 |  |  | — |  |  | — |  |  | 40 |
Total current liabilities | 61,124 |  |  | 1,462,921 |  |  | 84,945 |  |  | (792,304 | ) |  | 816,686 |
Long-term debt | 1,945,009 |  |  | 522,000 |  |  | 166,000 |  |  | — |  |  | 2,633,009 |
Deferred income taxes | — |  |  | 440,423 |  |  | — |  |  | (209,919 | ) |  | 230,504 |
Asset retirement obligations | — |  |  | 49,860 |  |  | 1,497 |  |  | — |  |  | 51,357 |
Derivative instruments | — |  |  | 33,017 |  |  | — |  |  | — |  |  | 33,017 |
Other liabilities | — |  |  | 7,775 |  |  | — |  |  | — |  |  | 7,775 |
Total liabilities | 2,006,133 |  |  | 2,515,996 |  |  | 252,442 |  |  | (1,002,223 | ) |  | 3,772,348 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,271,788 |  |  | 202,007 |  |  | (3,473,795 | ) |  | — |
Common stock, $0.01 par value: 900,000,000 shares authorized; 320,507,783 shares issued and 318,419,144 shares outstanding | 3,157 |  |  | — |  |  | — |  |  | — |  |  | 3,157 |
Treasury stock, at cost: 2,088,639 shares | (28,985 | ) |  | — |  |  | — |  |  | — |  |  | (28,985 | )
Additional paid-in-capital | 3,070,642 |  |  | 9,141 |  |  | — |  |  | (9,141 | ) |  | 3,070,642 |
Retained earnings | 466,965 |  |  | 1,236,740 |  |  | 46,413 |  |  | (1,289,406 | ) |  | 460,712 |
Oasis share of stockholders’ equity | 3,511,779 |  |  | 4,517,669 |  |  | 248,420 |  |  | (4,772,342 | ) |  | 3,505,526 |
Non-controlling interests | — |  |  | 138,557 |  |  | 406,134 |  |  | (406,134 | ) |  | 138,557 |
Total stockholders’ equity | 3,511,779 |  |  | 4,656,226 |  |  | 654,554 |  |  | (5,178,476 | ) |  | 3,644,083 |
Total liabilities and stockholders’ equity | $ | 5,517,912 |  |  | $ | 7,172,222 |  |  | $ | 906,996 |  |  | $ | (6,180,699 | ) |  | $ | 7,416,431 |
Condensed Consolidating Balance Sheet
| December 31, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands, except share data)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 178 |  |  | $ | 15,659 |  |  | $ | 883 |  |  | $ | — |  |  | $ | 16,720 |
Accounts receivable, net | — |  |  | 362,746 |  |  | 834 |  |  | — |  |  | 363,580 |
Accounts receivable - affiliates | 425,668 |  |  | 46,020 |  |  | 85,818 |  |  | (557,506 | ) |  | — |
Inventory | — |  |  | 19,367 |  |  | — |  |  | — |  |  | 19,367 |
Prepaid expenses | 267 |  |  | 6,586 |  |  | 778 |  |  | — |  |  | 7,631 |
Derivative instruments | — |  |  | 344 |  |  | — |  |  | — |  |  | 344 |
Other current assets | — |  |  | 193 |  |  | — |  |  | — |  |  | 193 |
Total current assets | 426,113 |  |  | 450,915 |  |  | 88,313 |  |  | (557,506 | ) |  | 407,835 |
Property, plant and equipment |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 7,840,921 |  |  | — |  |  | (1,966 | ) |  | 7,838,955 |
Other property and equipment | — |  |  | 214,818 |  |  | 653,928 |  |  | — |  |  | 868,746 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (2,499,867 | ) |  | (34,348 | ) |  | — |  |  | (2,534,215 | )
Total property, plant and equipment, net | — |  |  | 5,555,872 |  |  | 619,580 |  |  | (1,966 | ) |  | 6,173,486 |
Investments in and advances to subsidiaries | 4,790,976 |  |  | 422,132 |  |  | — |  |  | (5,213,108 | ) |  | — |
Derivative instruments | — |  |  | 9 |  |  | — |  |  | — |  |  | 9 |
Deferred income taxes | 183,568 |  |  | — |  |  | — |  |  | (183,568 | ) |  | — |
Long-term inventory | — |  |  | 12,200 |  |  | — |  |  | — |  |  | 12,200 |
Other assets | — |  |  | 19,587 |  |  | 2,013 |  |  | — |  |  | 21,600 |
Total assets | $ | 5,400,657 |  |  | $ | 6,460,715 |  |  | $ | 709,906 |  |  | $ | (5,956,148 | ) |  | $ | 6,615,130 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 13,370 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,370 |
Accounts payable - affiliates | 34,382 |  |  | 511,486 |  |  | 11,638 |  |  | (557,506 | ) |  | — |
Revenues and production taxes payable | — |  |  | 213,995 |  |  | — |  |  | — |  |  | 213,995 |
Accrued liabilities | 216 |  |  | 177,446 |  |  | 58,818 |  |  | — |  |  | 236,480 |
Accrued interest payable | 38,796 |  |  | 53 |  |  | 114 |  |  | — |  |  | 38,963 |
Derivative instruments | — |  |  | 115,716 |  |  | — |  |  | — |  |  | 115,716 |
Advances from joint interest partners | — |  |  | 4,916 |  |  | — |  |  | — |  |  | 4,916 |
Other current liabilities | — |  |  | 40 |  |  | — |  |  | — |  |  | 40 |
Total current liabilities | 73,394 |  |  | 1,037,022 |  |  | 70,570 |  |  | (557,506 | ) |  | 623,480 |
Long-term debt | 1,949,606 |  |  | 70,000 |  |  | 78,000 |  |  | — |  |  | 2,097,606 |
Deferred income taxes | — |  |  | 489,489 |  |  | — |  |  | (183,568 | ) |  | 305,921 |
Asset retirement obligations | — |  |  | 47,195 |  |  | 1,316 |  |  | — |  |  | 48,511 |
Derivative instruments | — |  |  | 19,851 |  |  | — |  |  | — |  |  | 19,851 |
Other liabilities | — |  |  | 6,182 |  |  | — |  |  | — |  |  | 6,182 |
Total liabilities | 2,023,000 |  |  | 1,669,739 |  |  | 149,886 |  |  | (741,074 | ) |  | 3,101,551 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,264,691 |  |  | 234,935 |  |  | (3,499,626 | ) |  | — |
Common stock, $0.01 par value: 450,000,000 shares authorized; 270,627,014 shares issued and 269,295,466 shares outstanding | 2,668 |  |  | — |  |  | — |  |  | — |  |  | 2,668 |
Treasury stock, at cost: 1,331,548 shares | (22,179 | ) |  | — |  |  | — |  |  | — |  |  | (22,179 | )
Additional paid-in-capital | 2,677,217 |  |  | 8,922 |  |  | — |  |  | (8,922 | ) |  | 2,677,217 |
Retained earnings | 719,951 |  |  | 1,379,475 |  |  | 11,639 |  |  | (1,393,080 | ) |  | 717,985 |
Oasis share of stockholders’ equity | 3,377,657 |  |  | 4,653,088 |  |  | 246,574 |  |  | (4,901,628 | ) |  | 3,375,691 |
Non-controlling interests | — |  |  | 137,888 |  |  | 313,446 |  |  | (313,446 | ) |  | 137,888 |
Total stockholders’ equity | 3,377,657 |  |  | 4,790,976 |  |  | 560,020 |  |  | (5,215,074 | ) |  | 3,513,579 |
Total liabilities and stockholders’ equity | $ | 5,400,657 |  |  | $ | 6,460,715 |  |  | $ | 709,906 |  |  | $ | (5,956,148 | ) |  | $ | 6,615,130 |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations
| Three Months Ended September 30, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 452,643 |  |  | $ | — |  |  | $ | — |  |  | $ | 452,643 |
Purchased oil and gas sales | — |  |  | 46,356 |  |  | — |  |  | — |  |  | 46,356 |
Midstream revenues | — |  |  | 765 |  |  | 71,467 |  |  | (41,045 | ) |  | 31,187 |
Well services revenues | — |  |  | 16,262 |  |  | — |  |  | — |  |  | 16,262 |
Total revenues | — |  |  | 516,026 |  |  | 71,467 |  |  | (41,045 | ) |  | 546,448 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 63,099 |  |  | — |  |  | (14,565 | ) |  | 48,534 |
Midstream operating expenses | — |  |  | 528 |  |  | 19,816 |  |  | (11,692 | ) |  | 8,652 |
Well services operating expenses | — |  |  | 11,405 |  |  | — |  |  | — |  |  | 11,405 |
Marketing, transportation and gathering expenses | — |  |  | 36,839 |  |  | — |  |  | (6,126 | ) |  | 30,713 |
Purchased oil and gas expenses | — |  |  | 46,148 |  |  | — |  |  | (60 | ) |  | 46,088 |
Production taxes | — |  |  | 38,722 |  |  | — |  |  | — |  |  | 38,722 |
Depreciation, depletion and amortization | — |  |  | 159,843 |  |  | 7,189 |  |  | (4,048 | ) |  | 162,984 |
Exploration expenses | — |  |  | 22,315 |  |  | — |  |  | — |  |  | 22,315 |
General and administrative expenses | 7,486 |  |  | 24,627 |  |  | 5,449 |  |  | (2,703 | ) |  | 34,859 |
Total operating expenses | 7,486 |  |  | 403,526 |  |  | 32,454 |  |  | (39,194 | ) |  | 404,272 |
Gain on sale of properties | — |  |  | 36,869 |  |  | — |  |  | — |  |  | 36,869 |
Operating income (loss) | (7,486 | ) |  | 149,369 |  |  | 39,013 |  |  | (1,851 | ) |  | 179,045 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 96,555 |  |  | 38,835 |  |  | — |  |  | (135,390 | ) |  | — |
Net loss on derivative instruments | — |  |  | (48,544 | ) |  | — |  |  | — |  |  | (48,544 | )
Interest expense, net of capitalized interest | (32,836 | ) |  | (6,561 | ) |  | (163 | ) |  | — |  |  | (39,560 | )
Loss on extinguishment of debt | (47 | ) |  | — |  |  | — |  |  | — |  |  | (47 | )
Other income (expense) | — |  |  | 126 |  |  | (15 | ) |  | — |  |  | 111 |
Total other income (expense) | 63,672 |  |  | (16,144 | ) |  | (178 | ) |  | (135,390 | ) |  | (88,040 | )
Income before income taxes | 56,186 |  |  | 133,225 |  |  | 38,835 |  |  | (137,241 | ) |  | 91,005 |
Income tax benefit (expense) | 6,155 |  |  | (30,937 | ) |  | — |  |  | — |  |  | (24,782 | )
Net income including non-controlling interests | 62,341 |  |  | 102,288 |  |  | 38,835 |  |  | (137,241 | ) |  | 66,223 |
Less: Net income attributable to non-controlling interests | — |  |  | 3,882 |  |  | 26,459 |  |  | (26,459 | ) |  | 3,882 |
Net income attributable to Oasis | $ | 62,341 |  |  | $ | 98,406 |  |  | $ | 12,376 |  |  | $ | (110,782 | ) |  | $ | 62,341 |
Condensed Consolidating Statement of Operations
| Three Months Ended September 30, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 248,648 |  |  | $ | — |  |  | $ | — |  |  | $ | 248,648 |
Purchased oil and gas sales | — |  |  | 21,195 |  |  | — |  |  | — |  |  | 21,195 |
Midstream revenues | — |  |  | 15,828 |  |  | 2,939 |  |  | — |  |  | 18,767 |
Well services revenues | — |  |  | 16,138 |  |  | — |  |  | — |  |  | 16,138 |
Total revenues | — |  |  | 301,809 |  |  | 2,939 |  |  | — |  |  | 304,748 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 45,334 |  |  | — |  |  | — |  |  | 45,334 |
Midstream operating expenses | — |  |  | 3,621 |  |  | 680 |  |  | — |  |  | 4,301 |
Well services operating expenses | — |  |  | 10,288 |  |  | — |  |  | — |  |  | 10,288 |
Marketing, transportation and gathering expenses | — |  |  | 15,028 |  |  | — |  |  | — |  |  | 15,028 |
Purchased oil and gas expenses | — |  |  | 21,701 |  |  | — |  |  | — |  |  | 21,701 |
Production taxes | — |  |  | 21,052 |  |  | — |  |  | — |  |  | 21,052 |
Depreciation, depletion and amortization | — |  |  | 132,035 |  |  | 254 |  |  | — |  |  | 132,289 |
Exploration expenses | — |  |  | 854 |  |  | — |  |  | — |  |  | 854 |
Impairment | — |  |  | 139 |  |  | — |  |  | — |  |  | 139 |
General and administrative expenses | 6,775 |  |  | 14,212 |  |  | 381 |  |  | — |  |  | 21,368 |
Total operating expenses | 6,775 |  |  | 264,264 |  |  | 1,315 |  |  | — |  |  | 272,354 |
Operating income (loss) | (6,775 | ) |  | 37,545 |  |  | 1,624 |  |  | — |  |  | 32,394 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings (loss) of subsidiaries | (13,599 | ) |  | 1,605 |  |  | — |  |  | 11,994 |  |  | — |
Net loss on derivative instruments | — |  |  | (54,310 | ) |  | — |  |  | — |  |  | (54,310 | )
Interest expense, net of capitalized interest | (32,894 | ) |  | (4,476 | ) |  | (19 | ) |  | — |  |  | (37,389 | )
Other income (expense) | 2 |  |  | (607 | ) |  | — |  |  | — |  |  | (605 | )
Total other expense | (46,491 | ) |  | (57,788 | ) |  | (19 | ) |  | 11,994 |  |  | (92,304 | )
Income (loss) before income taxes | (53,266 | ) |  | (20,243 | ) |  | 1,605 |  |  | 11,994 |  |  | (59,910 | )
Income tax benefit | 12,052 |  |  | 6,794 |  |  | — |  |  | — |  |  | 18,846 |
Net income (loss) including non-controlling interests | (41,214 | ) |  | (13,449 | ) |  | 1,605 |  |  | 11,994 |  |  | (41,064 | )
Less: Net income attributable to non-controlling interests | — |  |  | 150 |  |  | 1,112 |  |  | (1,112 | ) |  | 150 |
Net income (loss) attributable to Oasis | $ | (41,214 | ) |  | $ | (13,599 | ) |  | $ | 493 |  |  | $ | 13,106 |  |  | $ | (41,214 | )
Condensed Consolidating Statement of Operations
| Nine Months Ended September 30, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 1,212,235 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,212,235 |
Purchased oil and gas sales | — |  |  | 121,971 |  |  | — |  |  | — |  |  | 121,971 |
Midstream revenues | — |  |  | 2,832 |  |  | 199,446 |  |  | (113,827 | ) |  | 88,451 |
Well services revenues | — |  |  | 46,344 |  |  | — |  |  | — |  |  | 46,344 |
Total revenues | — |  |  | 1,383,382 |  |  | 199,446 |  |  | (113,827 | ) |  | 1,469,001 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 176,413 |  |  | — |  |  | (38,957 | ) |  | 137,456 |
Midstream operating expenses | — |  |  | 2,054 |  |  | 53,266 |  |  | (30,995 | ) |  | 24,325 |
Well services operating expenses | — |  |  | 32,352 |  |  | — |  |  | — |  |  | 32,352 |
Marketing, transportation and gathering expenses | — |  |  | 92,164 |  |  | — |  |  | (17,605 | ) |  | 74,559 |
Purchased oil and gas expenses | — |  |  | 121,311 |  |  | — |  |  | (60 | ) |  | 121,251 |
Production taxes | — |  |  | 103,748 |  |  | — |  |  | — |  |  | 103,748 |
Depreciation, depletion and amortization | — |  |  | 456,624 |  |  | 20,212 |  |  | (11,017 | ) |  | 465,819 |
Exploration expenses | — |  |  | 23,701 |  |  | — |  |  | — |  |  | 23,701 |
Impairment | — |  |  | 384,228 |  |  | — |  |  | — |  |  | 384,228 |
General and administrative expenses | 22,214 |  |  | 60,259 |  |  | 17,496 |  |  | (8,940 | ) |  | 91,029 |
Total operating expenses | 22,214 |  |  | 1,452,854 |  |  | 90,974 |  |  | (107,574 | ) |  | 1,458,468 |
Gain on sale of properties | — |  |  | 38,823 |  |  | — |  |  | — |  |  | 38,823 |
Operating income (loss) | (22,214 | ) |  | (30,649 | ) |  | 108,472 |  |  | (6,253 | ) |  | 49,356 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings (loss) of subsidiaries | (149,295 | ) |  | 107,849 |  |  | — |  |  | 41,446 |  |  | — |
Net loss on derivative instruments | — |  |  | (239,945 | ) |  | — |  |  | — |  |  | (239,945 | )
Interest expense, net of capitalized interest | (98,417 | ) |  | (18,591 | ) |  | (608 | ) |  | — |  |  | (117,616 | )
Loss on extinguishment of debt | (13,698 | ) |  | — |  |  | — |  |  | — |  |  | (13,698 | )
Other income (expense) | — |  |  | 161 |  |  | (15 | ) |  | — |  |  | 146 |
Total other expense | (261,410 | ) |  | (150,526 | ) |  | (623 | ) |  | 41,446 |  |  | (371,113 | )
Income (loss) before income taxes | (283,624 | ) |  | (181,175 | ) |  | 107,849 |  |  | 35,193 |  |  | (321,757 | )
Income tax benefit | 26,351 |  |  | 49,040 |  |  | — |  |  | — |  |  | 75,391 |
Net income (loss) including non-controlling interests | (257,273 | ) |  | (132,135 | ) |  | 107,849 |  |  | 35,193 |  |  | (246,366 | )
Less: Net income attributable to non-controlling interests | — |  |  | 10,907 |  |  | 73,075 |  |  | (73,075 | ) |  | 10,907 |
Net income (loss) attributable to Oasis | $ | (257,273 | ) |  | $ | (143,042 | ) |  | $ | 34,774 |  |  | $ | 108,268 |  |  | $ | (257,273 | )
Condensed Consolidating Statement of Operations
| Nine Months Ended September 30, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 704,533 |  |  | $ | — |  |  | $ | — |  |  | $ | 704,533 |
Purchased oil and gas sales | — |  |  | 56,917 |  |  | — |  |  | — |  |  | 56,917 |
Midstream revenues | — |  |  | 46,000 |  |  | 2,939 |  |  | — |  |  | 48,939 |
Well services revenues | — |  |  | 33,566 |  |  | — |  |  | — |  |  | 33,566 |
Total revenues | — |  |  | 841,016 |  |  | 2,939 |  |  | — |  |  | 843,955 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 133,871 |  |  | — |  |  | — |  |  | 133,871 |
Midstream operating expenses | — |  |  | 10,211 |  |  | 680 |  |  | — |  |  | 10,891 |
Well services operating expenses | — |  |  | 23,858 |  |  | — |  |  | — |  |  | 23,858 |
Marketing, transportation and gathering expenses | — |  |  | 38,018 |  |  | — |  |  | — |  |  | 38,018 |
Purchased oil and gas expenses | — |  |  | 57,683 |  |  | — |  |  | — |  |  | 57,683 |
Production taxes | — |  |  | 60,322 |  |  | — |  |  | — |  |  | 60,322 |
Depreciation, depletion and amortization | — |  |  | 383,992 |  |  | 254 |  |  | — |  |  | 384,246 |
Exploration expenses | — |  |  | 4,010 |  |  | — |  |  | — |  |  | 4,010 |
Impairment | — |  |  | 6,021 |  |  | — |  |  | — |  |  | 6,021 |
General and administrative expenses | 21,374 |  |  | 45,415 |  |  | 381 |  |  | — |  |  | 67,170 |
Total operating expenses | 21,374 |  |  | 763,401 |  |  | 1,315 |  |  | — |  |  | 786,090 |
Operating income (loss) | (21,374 | ) |  | 77,615 |  |  | 1,624 |  |  | — |  |  | 57,865 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 74,379 |  |  | 1,605 |  |  | — |  |  | (75,984 | ) |  | — |
Net gain on derivative instruments | — |  |  | 52,297 |  |  | — |  |  | — |  |  | 52,297 |
Interest expense, net of capitalized interest | (98,751 | ) |  | (11,778 | ) |  | (19 | ) |  | — |  |  | (110,548 | )
Other income (expense) | 2 |  |  | (757 | ) |  | — |  |  | — |  |  | (755 | )
Total other income (expense) | (24,370 | ) |  | 41,367 |  |  | (19 | ) |  | (75,984 | ) |  | (59,006 | )
Income (loss) before income taxes | (45,744 | ) |  | 118,982 |  |  | 1,605 |  |  | (75,984 | ) |  | (1,141 | )
Income tax benefit (expense) | 44,923 |  |  | (44,453 | ) |  | — |  |  | — |  |  | 470 |
Net income (loss) including non-controlling interests | (821 | ) |  | 74,529 |  |  | 1,605 |  |  | (75,984 | ) |  | (671 | )
Less: Net income attributable to non-controlling interests | — |  |  | 150 |  |  | 1,112 |  |  | (1,112 | ) |  | 150 |
Net income (loss) attributable to Oasis | $ | (821 | ) |  | $ | 74,379 |  |  | $ | 493 |  |  | $ | (74,872 | ) |  | $ | (821 | )
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Nine Months Ended September 30, 2018
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income (loss) including non-controlling interests | $ | (257,273 | ) |  | $ | (132,135 | ) |  | $ | 107,849 |  |  | $ | 35,193 |  |  | $ | (246,366 | )
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in earnings (loss) of subsidiaries | 149,295 |  |  | (107,849 | ) |  | — |  |  | (41,446 | ) |  | — |
Depreciation, depletion and amortization | — |  |  | 456,624 |  |  | 20,212 |  |  | (11,017 | ) |  | 465,819 |
Loss on extinguishment of debt | 13,698 |  |  | — |  |  | — |  |  | — |  |  | 13,698 |
Gain on sale of properties | — |  |  | (38,823 | ) |  | — |  |  | — |  |  | (38,823 | )
Impairment | — |  |  | 384,228 |  |  | — |  |  | — |  |  | 384,228 |
Deferred income taxes | (26,351 | ) |  | (49,067 | ) |  | — |  |  | — |  |  | (75,418 | )
Derivative instruments | — |  |  | 239,945 |  |  | — |  |  | — |  |  | 239,945 |
Equity-based compensation expenses | 20,292 |  |  | 1,014 |  |  | 280 |  |  | — |  |  | 21,586 |
Deferred financing costs amortization and other | 11,955 |  |  | 7,884 |  |  | 235 |  |  | — |  |  | 20,074 |
Working capital and other changes: |  |  |  |  |  |  |  |  |
Change in accounts receivable | (227,589 | ) |  | (77,231 | ) |  | 8,747 |  |  | 234,798 |  |  | (61,275 | )
Change in inventory | — |  |  | (12,076 | ) |  | — |  |  | — |  |  | (12,076 | )
Change in prepaid expenses | (350 | ) |  | 864 |  |  | 682 |  |  | — |  |  | 1,196 |
Change in other current assets | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Change in long-term inventory and other assets | — |  |  | (490 | ) |  | — |  |  | — |  |  | (490 | )
Change in accounts payable, interest payable and accrued liabilities | (12,270 | ) |  | 278,481 |  |  | 18,895 |  |  | (234,798 | ) |  | 50,308 |
Change in other liabilities | — |  |  | (406 | ) |  | — |  |  | — |  |  | (406 | )
Net cash provided by (used in) operating activities | (328,593 | ) |  | 950,964 |  |  | 156,900 |  |  | (17,270 | ) |  | 762,001 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (621,269 | ) |  | (219,819 | ) |  | — |  |  | (841,088 | )
Acquisitions | — |  |  | (579,886 | ) |  | — |  |  | — |  |  | (579,886 | )
Proceeds from sale of properties | — |  |  | 333,029 |  |  | — |  |  | — |  |  | 333,029 |
Costs related to sale of properties | — |  |  | (2,707 | ) |  | — |  |  | — |  |  | (2,707 | )
Derivative settlements | — |  |  | (162,013 | ) |  | — |  |  | — |  |  | (162,013 | )
Advances from joint interest partners | — |  |  | (1,038 | ) |  | — |  |  | — |  |  | (1,038 | )
Net cash used in investing activities | — |  |  | (1,033,884 | ) |  | (219,819 | ) |  | — |  |  | (1,253,703 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from Revolving Credit Facilities | — |  |  | 2,376,000 |  |  | 123,000 |  |  | — |  |  | 2,499,000 |
Principal payments on Revolving Credit Facilities | — |  |  | (1,924,000 | ) |  | (35,000 | ) |  | — |  |  | (1,959,000 | )
Repurchase of senior unsecured notes | (423,190 | ) |  | — |  |  | — |  |  | — |  |  | (423,190 | )
Proceeds from issuance of senior unsecured convertible notes | 400,000 |  |  | — |  |  | — |  |  | — |  |  | 400,000 |
Deferred financing costs | (7,058 | ) |  | (261 | ) |  | (331 | ) |  | — |  |  | (7,650 | )
Purchases of treasury stock | (6,806 | ) |  | — |  |  | — |  |  | — |  |  | (6,806 | )
Distributions to non-controlling interests | — |  |  | 92,672 |  |  | (103,065 | ) |  | — |  |  | (10,393 | )
Investment in subsidiaries / capital contributions from parent | 365,601 |  |  | (465,293 | ) |  | 82,422 |  |  | 17,270 |  |  | — |
Other | 38 |  |  | (125 | ) |  | — |  |  | — |  |  | (87 | )
Net cash provided by financing activities | 328,585 |  |  | 78,993 |  |  | 67,026 |  |  | 17,270 |  |  | 491,874 |
Increase (decrease) in cash and cash equivalents | (8 | ) |  | (3,927 | ) |  | 4,107 |  |  | — |  |  | 172 |
Cash and cash equivalents at beginning of period | 178 |  |  | 15,659 |  |  | 883 |  |  | — |  |  | 16,720 |
Cash and cash equivalents at end of period | $ | 170 |  |  | $ | 11,732 |  |  | $ | 4,990 |  |  | $ | — |  |  | $ | 16,892 |
Condensed Consolidating Statement of Cash Flows
| Nine Months Ended September 30, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income (loss) including non-controlling interests | $ | (821 | ) |  | $ | 74,529 |  |  | $ | 1,605 |  |  | $ | (75,984 | ) |  | $ | (671 | )
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (74,379 | ) |  | (1,605 | ) |  | — |  |  | 75,984 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 383,992 |  |  | 254 |  |  | — |  |  | 384,246 |
Impairment | — |  |  | 6,021 |  |  | — |  |  | — |  |  | 6,021 |
Deferred income taxes | (44,923 | ) |  | 44,453 |  |  | — |  |  | — |  |  | (470 | )
Derivative instruments | — |  |  | (52,297 | ) |  | — |  |  | — |  |  | (52,297 | )
Equity-based compensation expenses | 19,740 |  |  | 711 |  |  | — |  |  | — |  |  | 20,451 |
Deferred financing costs amortization and other | 11,399 |  |  | 1,260 |  |  | 7 |  |  | — |  |  | 12,666 |
Working capital and other changes: |  |  |  |  |  |  |  |  |
Change in accounts receivable | 115,996 |  |  | (87,610 | ) |  | (5,630 | ) |  | (103,778 | ) |  | (81,022 | )
Change in inventory | — |  |  | (235 | ) |  | — |  |  | — |  |  | (235 | )
Change in prepaid expenses | (190 | ) |  | 1,013 |  |  | — |  |  | — |  |  | 823 |
Change in other current assets | — |  |  | 276 |  |  | — |  |  | — |  |  | 276 |
Change in long-term inventory and other assets | — |  |  | (12,843 | ) |  | — |  |  | — |  |  | (12,843 | )
Change in accounts payable, interest payable and accrued liabilities | (12,571 | ) |  | (62,542 | ) |  | 3,617 |  |  | 103,778 |  |  | 32,282 |
Change in other current liabilities | — |  |  | (10,490 | ) |  | — |  |  | — |  |  | (10,490 | )
Net cash provided by operating activities | 14,251 |  |  | 284,633 |  |  | (147 | ) |  | — |  |  | 298,737 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (443,649 | ) |  | — |  |  | — |  |  | (443,649 | )
Proceeds from sale of properties | — |  |  | 4,000 |  |  | — |  |  | — |  |  | 4,000 |
Derivative settlements | — |  |  | (804 | ) |  | — |  |  | — |  |  | (804 | )
Advances from joint interest partners | — |  |  | (2,502 | ) |  | — |  |  | — |  |  | (2,502 | )
Net cash used in investing activities | — |  |  | (442,955 | ) |  | — |  |  | — |  |  | (442,955 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from Oasis Credit Facility | — |  |  | 764,000 |  |  | — |  |  | — |  |  | 764,000 |
Principal payments on Oasis Credit Facility | — |  |  | (732,000 | ) |  | — |  |  | — |  |  | (732,000 | )
Deferred financing costs | — |  |  | 1,858 |  |  | (1,954 | ) |  | — |  |  | (96 | )
Proceeds from issuance of Oasis Midstream common units, net of offering costs | — |  |  | — |  |  | 115,813 |  |  | — |  |  | 115,813 |
Purchases of treasury stock | (6,182 | ) |  | — |  |  | — |  |  | — |  |  | (6,182 | )
Investment in subsidiaries / capital contributions from parent | (8,002 | ) |  | 121,714 |  |  | (113,712 | ) |  | — |  |  | — |
Other | (55 | ) |  | — |  |  | — |  |  | — |  |  | (55 | )
Net cash provided by (used in) financing activities | (14,239 | ) |  | 155,572 |  |  | 147 |  |  | — |  |  | 141,480 |
Increase (decrease) in cash and cash equivalents | 12 |  |  | (2,750 | ) |  | — |  |  | — |  |  | (2,738 | )
Cash and cash equivalents at beginning of period | 166 |  |  | 11,060 |  |  | — |  |  | — |  |  | 11,226 |
Cash and cash equivalents at end of period | $ | 178 |  |  | $ | 8,310 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,488 |

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