XML 75 R25.htm IDEA: XBRL DOCUMENT
v3.19.3

Condensed Consolidating Financial Information | 9 Months Ended
--- | ---
Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information The Notes (see Note 11 — Long-Term Debt) are guaranteed on a senior unsecured basis by the Guarantors, which are 100% owned by the Company. These guarantees are full and unconditional and joint and several among the Guarantors. Certain of the Company’s operating units, including OMP, which is accounted for on a consolidated basis, do not guarantee the Notes (“Non-Guarantor Subsidiaries”). The following financial information reflects consolidating financial information of the parent company, Oasis Petroleum Inc. (“Issuer”), its Guarantors on a combined basis (the “Combined Guarantor Subsidiaries”) and the Non-Guarantor Subsidiaries on a combined basis, prepared on the equity basis of accounting. The information is presented in accordance with the requirements of Rule 3-10 under the SEC’s Regulation S-X. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantors operated as independent entities. The Company has not presented separate financial and narrative information for each of the Guarantors because it believes such financial and narrative information would not provide any additional information that would be material in evaluating the sufficiency of the Guarantors. During the preparation of the condensed consolidating financial information as of and for the three and six months ended June 30, 2019, the Company identified errors primarily relating to the presentation of non-controlling interests and equity in earnings of subsidiaries in the financial information of the Combined Guarantor Subsidiaries and the related intercompany eliminations. •Condensed Consolidating Balance Sheet. As of December 31, 2018, it was determined that (1) in the Issuer’s financial information, investment in and advances to subsidiaries and Oasis share of stockholders’ equity were both overstated by $9.6 million, (2) in the Combined Guarantor Subsidiaries financial information, investment in and advances to subsidiaries and non-controlling interests were overstated by $11.1 million and $184.3 million, respectively, and Oasis share of stockholders’ equity was understated by $173.2 million and (3) in the intercompany eliminations financial information, investments in and advances to subsidiaries and non-controlling interests were understated by $20.7 million and $184.3 million, respectively, and Oasis share of stockholders’ equity was overstated by $163.6 million. •Condensed Consolidated Statements of Operations. For the three months ended September 30, 2018, it was determined that equity in earnings of subsidiaries and net income attributable to non-controlling interests were overstated by $5.7 million and $3.9 million, respectively, in the Combined Guarantor Subsidiaries financial information and understated by $5.7 million and $3.9 million, respectively, in the intercompany eliminations financial information. For the nine months ended September 30, 2018, it was determined that equity in earnings of subsidiaries and net income attributable to non-controlling interests were overstated by $17.2 million and $10.9 million, respectively, in the Combined Guarantor Subsidiaries financial information and understated by $17.2 million and $10.9 million, respectively, in the intercompany eliminations financial information. •Condensed Consolidated Statement of Cash Flows. For the nine months ended September 30, 2018, it was determined that cash paid for distributions to non-controlling interests was understated by $92.7 million in the Combined Guarantor Subsidiaries financial information and overstated by $92.7 million in the intercompany eliminations financial information, with the offsetting impacts in investment in subsidiaries / capital contributions from parent. These errors in the condensed consolidated financial information, which the Company has determined are not material to this disclosure, were all eliminated in consolidation and therefore have no impact on the Company’s consolidated financial position, results of operations or cash flows. The Company has revised the condensed consolidating financial information as of December 31, 2018 and for the three and nine months ended September 30, 2018 to reflect the correction of these errors. In addition, for the three and nine months ended September 30, 2018, the Company has revised the condensed consolidating financial information to reflect the correction of errors related to the manner in which it accounted for certain crude oil purchase and sale arrangements, which had no effect on the Company’s or any of its subsidiaries’ net income (loss). All impacts of this revision are included in the Combined Guarantor Subsidiaries financial information. Please see Note 2 — Summary of Significant Accounting Policies for more information related to this revision.
Condensed Consolidated Financial Information | Condensed Consolidating Balance Sheet
| September 30, 2019 |  |  |  |  |  |  |  |
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands, except share data) |  |  |  |  |  |  |  |
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 145 |  |  | $ | 14,608 |  |  | $ | 4,672 |  |  | $ | — |  |  | $ | 19,425 |
Accounts receivable, net | — |  |  | 373,824 |  |  | 7,793 |  |  | — |  |  | 381,617 |
Accounts receivable - affiliates | 549,167 |  |  | 72,492 |  |  | 77,393 |  |  | (699,052) |  |  | — |
Inventory | — |  |  | 35,085 |  |  | 1,673 |  |  | — |  |  | 36,758 |
Prepaid expenses | 90 |  |  | 4,248 |  |  | 964 |  |  | — |  |  | 5,302 |
Derivative instruments | — |  |  | 52,180 |  |  | — |  |  | — |  |  | 52,180 |
Other current assets | — |  |  | 195 |  |  | 137 |  |  | — |  |  | 332 |
Total current assets | 549,402 |  |  | 552,632 |  |  | 92,632 |  |  | (699,052) |  |  | 495,614 |
Property, plant and equipment |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 9,393,370 |  |  | — |  |  | (18,864) |  |  | 9,374,506 |
Other property and equipment | — |  |  | 249,572 |  |  | 1,089,696 |  |  | — |  |  | 1,339,268 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (3,535,035) |  |  | (89,129) |  |  | — |  |  | (3,624,164) |
Total property, plant and equipment, net | — |  |  | 6,107,907 |  |  | 1,000,567 |  |  | (18,864) |  |  | 7,089,610 |
Assets held for sale, net | — |  |  | 6,700 |  |  | — |  |  | — |  |  | 6,700 |
Investments in and advances to subsidiaries | 4,941,278 |  |  | 372,784 |  |  | — |  |  | (5,314,062) |  |  | — |
Derivative instruments | — |  |  | 9,729 |  |  | — |  |  | — |  |  | 9,729 |
Deferred income taxes | 243,100 |  |  | — |  |  | — |  |  | (243,100) |  |  | — |
Long-term inventory | — |  |  | 14,395 |  |  | — |  |  | — |  |  | 14,395 |
Operating right-of-use assets | — |  |  | 15,310 |  |  | 5,945 |  |  | — |  |  | 21,255 |
Other assets | — |  |  | 26,291 |  |  | 3,383 |  |  | — |  |  | 29,674 |
Total assets | $ | 5,733,780 |  |  | $ | 7,105,748 |  |  | $ | 1,102,527 |  |  | $ | (6,275,078) |  |  | $ | 7,666,977 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 16,319 |  |  | $ | 1,684 |  |  | $ | — |  |  | $ | 18,003 |
Accounts payable - affiliates | 45,723 |  |  | 626,561 |  |  | 26,769 |  |  | (699,053) |  |  | — |
Revenues and production taxes payable | — |  |  | 212,602 |  |  | 1,171 |  |  | — |  |  | 213,773 |
Accrued liabilities | 115 |  |  | 277,797 |  |  | 47,533 |  |  | — |  |  | 325,445 |
Accrued interest payable | 20,758 |  |  | 298 |  |  | 273 |  |  | — |  |  | 21,329 |
Derivative instruments | — |  |  | 830 |  |  | — |  |  | — |  |  | 830 |
Advances from joint interest partners | — |  |  | 3,649 |  |  | — |  |  | — |  |  | 3,649 |
Current operating lease liabilities | — |  |  | 5,077 |  |  | 2,973 |  |  | — |  |  | 8,050 |
Other current liabilities | — |  |  | 2,773 |  |  | 9 |  |  | — |  |  | 2,782 |
Total current liabilities | 66,596 |  |  | 1,145,906 |  |  | 80,412 |  |  | (699,053) |  |  | 593,861 |
Long-term debt | 1,961,859 |  |  | 406,000 |  |  | 431,000 |  |  | — |  |  | 2,798,859 |
Deferred income taxes | — |  |  | 534,315 |  |  | — |  |  | (243,100) |  |  | 291,215 |
Asset retirement obligations | — |  |  | 53,906 |  |  | 1,596 |  |  | — |  |  | 55,502 |
Liabilities held for sale | — |  |  | 6,700 |  |  | — |  |  | — |  |  | 6,700 |
Operating lease liabilities | — |  |  | 16,116 |  |  | 2,979 |  |  | — |  |  | 19,095 |
Other liabilities | — |  |  | 1,527 |  |  | 557 |  |  | — |  |  | 2,084 |
Total liabilities | 2,028,455 |  |  | 2,164,470 |  |  | 516,544 |  |  | (942,153) |  |  | 3,767,316 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Oasis share of stockholders’ equity | 3,705,325 |  |  | 4,941,278 |  |  | 272,202 |  |  | (5,213,479) |  |  | 3,705,326 |
Non-controlling interests | — |  |  | — |  |  | 313,781 |  |  | (119,446) |  |  | 194,335 |
Total stockholders’ equity | 3,705,325 |  |  | 4,941,278 |  |  | 585,983 |  |  | (5,332,925) |  |  | 3,899,661 |
Total liabilities and stockholders’ equity | $ | 5,733,780 |  |  | $ | 7,105,748 |  |  | $ | 1,102,527 |  |  | $ | (6,275,078) |  |  | $ | 7,666,977 |
Condensed Consolidated Financial Information | Condensed Consolidating Balance Sheet
| December 31, 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 | $ | 179 |  |  | $ | 15,362 |  |  | $ | 6,649 |  |  | $ | — |  |  | $ | 22,190 |
Accounts receivable, net | — |  |  | 385,121 |  |  | 2,481 |  |  | — |  |  | 387,602 |
Accounts receivable - affiliates | 643,382 |  |  | 76,127 |  |  | 80,805 |  |  | (800,314) |  |  | — |
Inventory | — |  |  | 33,106 |  |  | 22 |  |  | — |  |  | 33,128 |
Prepaid expenses | 373 |  |  | 9,206 |  |  | 1,418 |  |  | — |  |  | 10,997 |
Derivative instruments | — |  |  | 99,930 |  |  | — |  |  | — |  |  | 99,930 |
Intangible assets, net | — |  |  | 125 |  |  | — |  |  | — |  |  | 125 |
Other current assets | — |  |  | 183 |  |  | — |  |  | — |  |  | 183 |
Total current assets | 643,934 |  |  | 619,160 |  |  | 91,375 |  |  | (800,314) |  |  | 554,155 |
Property, plant and equipment |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 8,923,291 |  |  | — |  |  | (11,102) |  |  | 8,912,189 |
Other property and equipment | — |  |  | 218,617 |  |  | 933,155 |  |  | — |  |  | 1,151,772 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (2,974,122) |  |  | (62,730) |  |  | — |  |  | (3,036,852) |
Total property, plant and equipment, net | — |  |  | 6,167,786 |  |  | 870,425 |  |  | (11,102) |  |  | 7,027,109 |
Investments in and advances to subsidiaries | 4,900,528 |  |  | 356,039 |  |  | — |  |  | (5,256,567) |  |  | — |
Derivative instruments | — |  |  | 6,945 |  |  | — |  |  | — |  |  | 6,945 |
Deferred income taxes | 219,670 |  |  | — |  |  | — |  |  | (219,670) |  |  | — |
Long-term inventory | — |  |  | 12,260 |  |  | — |  |  | — |  |  | 12,260 |
Other assets | — |  |  | 23,221 |  |  | 2,452 |  |  | — |  |  | 25,673 |
Total assets | $ | 5,764,132 |  |  | $ | 7,185,411 |  |  | $ | 964,252 |  |  | $ | (6,287,653) |  |  | $ | 7,626,142 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 18,567 |  |  | $ | 1,599 |  |  | $ | — |  |  | $ | 20,166 |
Accounts payable - affiliates | 43,113 |  |  | 724,187 |  |  | 33,014 |  |  | (800,314) |  |  | — |
Revenues and production taxes payable | — |  |  | 216,114 |  |  | 581 |  |  | — |  |  | 216,695 |
Accrued liabilities | 71 |  |  | 273,923 |  |  | 57,657 |  |  | — |  |  | 331,651 |
Accrued interest payable | 37,096 |  |  | 502 |  |  | 442 |  |  | — |  |  | 38,040 |
Derivative instruments | — |  |  | 84 |  |  | — |  |  | — |  |  | 84 |
Advances from joint interest partners | — |  |  | 5,140 |  |  | — |  |  | — |  |  | 5,140 |
Total current liabilities | 80,280 |  |  | 1,238,517 |  |  | 93,293 |  |  | (800,314) |  |  | 611,776 |
Long-term debt | 1,949,276 |  |  | 468,000 |  |  | 318,000 |  |  | — |  |  | 2,735,276 |
Deferred income taxes | — |  |  | 519,725 |  |  | — |  |  | (219,670) |  |  | 300,055 |
Asset retirement obligations | — |  |  | 50,870 |  |  | 1,514 |  |  | — |  |  | 52,384 |
Derivative instruments | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Other liabilities | — |  |  | 7,751 |  |  | — |  |  | — |  |  | 7,751 |
Total liabilities | 2,029,556 |  |  | 2,284,883 |  |  | 412,807 |  |  | (1,019,984) |  |  | 3,707,262 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Oasis share of stockholders’ equity | 3,734,576 |  |  | 4,900,528 |  |  | 238,630 |  |  | (5,139,158) |  |  | 3,734,576 |
Non-controlling interests | — |  |  | — |  |  | 312,815 |  |  | (128,511) |  |  | 184,304 |
Total stockholders’ equity | 3,734,576 |  |  | 4,900,528 |  |  | 551,445 |  |  | (5,267,669) |  |  | 3,918,880 |
Total liabilities and stockholders’ equity | $ | 5,764,132 |  |  | $ | 7,185,411 |  |  | $ | 964,252 |  |  | $ | (6,287,653) |  |  | $ | 7,626,142 |
Condensed Consolidated Financial Information | Condensed Consolidating Statement of Operations
| Three Months Ended September 30, 2019 |  |  |  |  |  |  |  |
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands) |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 344,102 |  |  | $ | — |  |  | $ | 368 |  |  | $ | 344,470 |
Purchased oil and gas sales | — |  |  | 79,352 |  |  | — |  |  | — |  |  | 79,352 |
Midstream revenues | — |  |  | 2,190 |  |  | 100,693 |  |  | (52,860) |  |  | 50,023 |
Well services revenues | — |  |  | 8,898 |  |  | — |  |  | — |  |  | 8,898 |
Total revenues | — |  |  | 434,542 |  |  | 100,693 |  |  | (52,492) |  |  | 482,743 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 67,367 |  |  | — |  |  | (17,054) |  |  | 50,313 |
Midstream expenses | — |  |  | 4 |  |  | 24,317 |  |  | (11,354) |  |  | 12,967 |
Well services expenses | — |  |  | 6,151 |  |  | — |  |  | — |  |  | 6,151 |
Marketing, transportation and gathering expenses | — |  |  | 44,409 |  |  | — |  |  | (11,750) |  |  | 32,659 |
Purchased oil and gas expenses | — |  |  | 78,655 |  |  | — |  |  | — |  |  | 78,655 |
Production taxes | — |  |  | 28,461 |  |  | — |  |  | — |  |  | 28,461 |
Depreciation, depletion and amortization | — |  |  | 206,989 |  |  | 8,983 |  |  | (5,140) |  |  | 210,832 |
Exploration expenses | — |  |  | 652 |  |  | — |  |  | — |  |  | 652 |
General and administrative expenses | 569 |  |  | 48,944 |  |  | 7,579 |  |  | (4,232) |  |  | 52,860 |
Total operating expenses | 569 |  |  | 481,632 |  |  | 40,879 |  |  | (49,530) |  |  | 473,550 |
Loss on sale of properties | — |  |  | (752) |  |  | — |  |  | — |  |  | (752) |
Operating income (loss) | (569) |  |  | (47,842) |  |  | 59,814 |  |  | (2,962) |  |  | 8,441 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 54,755 |  |  | 42,317 |  |  | — |  |  | (97,072) |  |  | — |
Net gain on derivative instruments | — |  |  | 47,922 |  |  | — |  |  | — |  |  | 47,922 |
Interest expense, net of capitalized interest | (33,133) |  |  | (6,252) |  |  | (4,512) |  |  | — |  |  | (43,897) |
Other income | 1 |  |  | 472 |  |  | — |  |  | — |  |  | 473 |
Total other income (expense), net | 21,623 |  |  | 84,459 |  |  | (4,512) |  |  | (97,072) |  |  | 4,498 |
Income before income taxes | 21,054 |  |  | 36,617 |  |  | 55,302 |  |  | (100,034) |  |  | 12,939 |
Income tax benefit (expense) | (766) |  |  | 18,138 |  |  | — |  |  | — |  |  | 17,372 |
Net income including non-controlling interests | 20,288 |  |  | 54,755 |  |  | 55,302 |  |  | (100,034) |  |  | 30,311 |
Less: Net income attributable to non-controlling interests | — |  |  | — |  |  | 23,866 |  |  | (13,843) |  |  | 10,023 |
Net income attributable to Oasis | $ | 20,288 |  |  | $ | 54,755 |  |  | $ | 31,436 |  |  | $ | (86,191) |  |  | $ | 20,288 |
Condensed Consolidated Financial Information | 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 | $ | — |  |  | $ | 454,195 |  |  | $ | — |  |  | $ | — |  |  | $ | 454,195 |
Purchased oil and gas sales | — |  |  | 172,985 |  |  | — |  |  | — |  |  | 172,985 |
Midstream revenues | — |  |  | 765 |  |  | 71,467 |  |  | (41,045) |  |  | 31,187 |
Well services revenues | — |  |  | 16,262 |  |  | — |  |  | — |  |  | 16,262 |
Total revenues | — |  |  | 644,207 |  |  | 71,467 |  |  | (41,045) |  |  | 674,629 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 63,099 |  |  | — |  |  | (14,565) |  |  | 48,534 |
Midstream expenses | — |  |  | 528 |  |  | 19,816 |  |  | (11,692) |  |  | 8,652 |
Well services expenses | — |  |  | 11,405 |  |  | — |  |  | — |  |  | 11,405 |
Marketing, transportation and gathering expenses | — |  |  | 36,839 |  |  | — |  |  | (6,126) |  |  | 30,713 |
Purchased oil and gas expenses | — |  |  | 174,329 |  |  | — |  |  | (60) |  |  | 174,269 |
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 |  |  | 531,707 |  |  | 32,454 |  |  | (39,194) |  |  | 532,453 |
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 |  |  | 33,102 |  |  | — |  |  | (129,657) |  |  | — |
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), net | 63,672 |  |  | (21,877) |  |  | (178) |  |  | (129,657) |  |  | (88,040) |
Income before income taxes | 56,186 |  |  | 127,492 |  |  | 38,835 |  |  | (131,508) |  |  | 91,005 |
Income tax benefit (expense) | 6,155 |  |  | (30,937) |  |  | — |  |  | — |  |  | (24,782) |
Net income including non-controlling interests | 62,341 |  |  | 96,555 |  |  | 38,835 |  |  | (131,508) |  |  | 66,223 |
Less: Net income attributable to non-controlling interests | — |  |  | — |  |  | 26,459 |  |  | (22,577) |  |  | 3,882 |
Net income attributable to Oasis | $ | 62,341 |  |  | $ | 96,555 |  |  | $ | 12,376 |  |  | $ | (108,931) |  |  | $ | 62,341 |
Condensed Consolidated Financial Information | Condensed Consolidating Statement of Operations
| Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands) |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 1,069,888 |  |  | $ | — |  |  | $ | 368 |  |  | $ | 1,070,256 |
Purchased oil and gas sales | — |  |  | 337,212 |  |  | — |  |  | — |  |  | 337,212 |
Midstream revenues | — |  |  | 6,342 |  |  | 289,988 |  |  | (146,713) |  |  | 149,617 |
Well services revenues | — |  |  | 30,795 |  |  | — |  |  | — |  |  | 30,795 |
Total revenues | — |  |  | 1,444,237 |  |  | 289,988 |  |  | (146,345) |  |  | 1,587,880 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 208,514 |  |  | — |  |  | (43,529) |  |  | 164,985 |
Midstream expenses | — |  |  | 2,527 |  |  | 79,257 |  |  | (34,720) |  |  | 47,064 |
Well services expenses | — |  |  | 21,595 |  |  | — |  |  | — |  |  | 21,595 |
Marketing, transportation and gathering expenses | — |  |  | 128,220 |  |  | — |  |  | (32,123) |  |  | 96,097 |
Purchased oil and gas expenses | — |  |  | 338,221 |  |  | — |  |  | — |  |  | 338,221 |
Production taxes | — |  |  | 86,221 |  |  | — |  |  | — |  |  | 86,221 |
Depreciation, depletion and amortization | — |  |  | 566,812 |  |  | 26,474 |  |  | (15,263) |  |  | 578,023 |
Exploration expenses | — |  |  | 2,369 |  |  | — |  |  | — |  |  | 2,369 |
Impairment | — |  |  | 653 |  |  | — |  |  | — |  |  | 653 |
General and administrative expenses | 15,964 |  |  | 91,121 |  |  | 24,108 |  |  | (12,948) |  |  | 118,245 |
Total operating expenses | 15,964 |  |  | 1,446,253 |  |  | 129,839 |  |  | (138,583) |  |  | 1,453,473 |
Loss on sale of properties | — |  |  | (3,950) |  |  | — |  |  | — |  |  | (3,950) |
Operating income (loss) | (15,964) |  |  | (5,966) |  |  | 160,149 |  |  | (7,762) |  |  | 130,457 |
Other income (expense) |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 39,118 |  |  | 114,570 |  |  | — |  |  | (153,688) |  |  | — |
Net loss on derivative instruments | — |  |  | (34,940) |  |  | — |  |  | — |  |  | (34,940) |
Interest expense, net of capitalized interest | (98,424) |  |  | (20,658) |  |  | (12,469) |  |  | — |  |  | (131,551) |
Other income (expense) | 2 |  |  | 708 |  |  | (4) |  |  | — |  |  | 706 |
Total other income (expense), net | (59,304) |  |  | 59,680 |  |  | (12,473) |  |  | (153,688) |  |  | (165,785) |
Income (loss) before income taxes | (75,268) |  |  | 53,714 |  |  | 147,676 |  |  | (161,450) |  |  | (35,328) |
Income tax benefit (expense) | 23,431 |  |  | (14,596) |  |  | — |  |  | — |  |  | 8,835 |
Net income (loss) including non-controlling interests | (51,837) |  |  | 39,118 |  |  | 147,676 |  |  | (161,450) |  |  | (26,493) |
Less: Net income attributable to non-controlling interests | — |  |  | — |  |  | 68,499 |  |  | (43,155) |  |  | 25,344 |
Net income (loss) attributable to Oasis | $ | (51,837) |  |  | $ | 39,118 |  |  | $ | 79,177 |  |  | $ | (118,295) |  |  | $ | (51,837) |
Condensed Consolidated Financial Information | 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 | $ | — |  |  | $ | 1,218,639 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,218,639 |
Purchased oil and gas sales | — |  |  | 368,758 |  |  | — |  |  | — |  |  | 368,758 |
Midstream revenues | — |  |  | 2,832 |  |  | 199,446 |  |  | (113,827) |  |  | 88,451 |
Well services revenues | — |  |  | 46,344 |  |  | — |  |  | — |  |  | 46,344 |
Total revenues | — |  |  | 1,636,573 |  |  | 199,446 |  |  | (113,827) |  |  | 1,722,192 |
Operating expenses |  |  |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 176,413 |  |  | — |  |  | (38,957) |  |  | 137,456 |
Midstream expenses | — |  |  | 2,054 |  |  | 53,266 |  |  | (30,995) |  |  | 24,325 |
Well services expenses | — |  |  | 32,352 |  |  | — |  |  | — |  |  | 32,352 |
Marketing, transportation and gathering expenses | — |  |  | 92,164 |  |  | — |  |  | (17,605) |  |  | 74,559 |
Purchased oil and gas expenses | — |  |  | 374,502 |  |  | — |  |  | (60) |  |  | 374,442 |
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 |  |  | 1,706,045 |  |  | 90,974 |  |  | (107,574) |  |  | 1,711,659 |
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) |  |  | 90,689 |  |  | — |  |  | 58,606 |  |  | — |
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, net | (261,410) |  |  | (167,686) |  |  | (623) |  |  | 58,606 |  |  | (371,113) |
Income (loss) before income taxes | (283,624) |  |  | (198,335) |  |  | 107,849 |  |  | 52,353 |  |  | (321,757) |
Income tax benefit | 26,351 |  |  | 49,040 |  |  | — |  |  | — |  |  | 75,391 |
Net income (loss) including non-controlling interests | (257,273) |  |  | (149,295) |  |  | 107,849 |  |  | 52,353 |  |  | (246,366) |
Less: Net income attributable to non-controlling interests | — |  |  | — |  |  | 73,075 |  |  | (62,168) |  |  | 10,907 |
Net income (loss) attributable to Oasis | $ | (257,273) |  |  | $ | (149,295) |  |  | $ | 34,774 |  |  | $ | 114,521 |  |  | $ | (257,273) |
Condensed Consolidated Financial Information | Condensed Consolidating Statement of Cash Flows
| Nine Months Ended September 30, 2019 |  |  |  |  |  |  |  |
| 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 | $ | (51,837) |  |  | $ | 39,118 |  |  | $ | 147,676 |  |  | $ | (161,450) |  |  | $ | (26,493) |
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (39,118) |  |  | (114,570) |  |  | — |  |  | 153,688 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 566,812 |  |  | 26,474 |  |  | (15,263) |  |  | 578,023 |
Loss on sale of properties | — |  |  | 3,950 |  |  | — |  |  | — |  |  | 3,950 |
Impairment | — |  |  | 653 |  |  | — |  |  | — |  |  | 653 |
Deferred income taxes | (23,431) |  |  | 14,591 |  |  | — |  |  | — |  |  | (8,840) |
Derivative instruments | — |  |  | 34,940 |  |  | — |  |  | — |  |  | 34,940 |
Equity-based compensation expenses | 13,933 |  |  | 12,134 |  |  | 303 |  |  | — |  |  | 26,370 |
Deferred financing costs amortization and other | 12,582 |  |  | 4,948 |  |  | 660 |  |  | — |  |  | 18,190 |
Working capital and other changes: |  |  |  |  |  |  |  |  |
Change in accounts receivable, net | 94,214 |  |  | 9,858 |  |  | (1,255) |  |  | (101,262) |  |  | 1,555 |
Change in inventory | — |  |  | (3,676) |  |  | — |  |  | — |  |  | (3,676) |
Change in prepaid expenses | 283 |  |  | 3,416 |  |  | 454 |  |  | — |  |  | 4,153 |
Change in accounts payable, interest payable and accrued liabilities | (13,684) |  |  | (63,125) |  |  | (2,173) |  |  | 101,262 |  |  | 22,280 |
Change in other assets and liabilities, net | — |  |  | (9,258) |  |  | (1,953) |  |  | — |  |  | (11,211) |
Net cash provided by (used in) operating activities | (7,058) |  |  | 499,791 |  |  | 170,186 |  |  | (23,025) |  |  | 639,894 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (543,420) |  |  | (170,850) |  |  | — |  |  | (714,270) |
Acquisitions | — |  |  | (8,337) |  |  | — |  |  | — |  |  | (8,337) |
Proceeds from sale of properties | — |  |  | 41,039 |  |  | — |  |  | — |  |  | 41,039 |
Derivative settlements | — |  |  | 10,752 |  |  | — |  |  | — |  |  | 10,752 |
Net cash used in investing activities | — |  |  | (499,966) |  |  | (170,850) |  |  | — |  |  | (670,816) |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from Revolving Credit Facilities | — |  |  | 1,533,000 |  |  | 118,000 |  |  | — |  |  | 1,651,000 |
Principal payments on Revolving Credit Facilities | — |  |  | (1,595,000) |  |  | (5,000) |  |  | — |  |  | (1,600,000) |
Deferred financing costs | — |  |  | (41) |  |  | (811) |  |  | — |  |  | (852) |
Purchases of treasury stock | (4,625) |  |  | — |  |  | — |  |  | — |  |  | (4,625) |
Distributions to non-controlling interests | — |  |  | — |  |  | (69,667) |  |  | 54,116 |  |  | (15,551) |
Investment in subsidiaries / capital contributions from parent | 11,649 |  |  | 62,824 |  |  | (43,382) |  |  | (31,091) |  |  | — |
Payments on finance lease liabilities | — |  |  | (1,364) |  |  | (59) |  |  | — |  |  | (1,423) |
Other | — |  |  | 2 |  |  | (394) |  |  | — |  |  | (392) |
Net cash provided by (used in) financing activities | 7,024 |  |  | (579) |  |  | (1,313) |  |  | 23,025 |  |  | 28,157 |
Decrease in cash and cash equivalents | (34) |  |  | (754) |  |  | (1,977) |  |  | — |  |  | (2,765) |
Cash and cash equivalents at beginning of period | 179 |  |  | 15,362 |  |  | 6,649 |  |  | — |  |  | 22,190 |
Cash and cash equivalents at end of period | $ | 145 |  |  | $ | 14,608 |  |  | $ | 4,672 |  |  | $ | — |  |  | $ | 19,425 |
Condensed Consolidated Financial Information | 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) |  |  | $ | (149,295) |  |  | $ | 107,849 |  |  | $ | 52,353 |  |  | $ | (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 |  |  | (90,689) |  |  | — |  |  | (58,606) |  |  | — |
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, net | (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 accounts payable, interest payable and accrued liabilities | (12,270) |  |  | 278,481 |  |  | 18,895 |  |  | (234,798) |  |  | 50,308 |
Change in other assets and liabilities, net | — |  |  | (895) |  |  | — |  |  | — |  |  | (895) |
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) |
Other | — |  |  | (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 | — |  |  | — |  |  | (103,065) |  |  | 92,672 |  |  | (10,393) |
Investment in subsidiaries / capital contributions from parent | 365,601 |  |  | (372,621) |  |  | 82,422 |  |  | (75,402) |  |  | — |
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 |

X
- Definition Condensed Financial Statements 1 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements1TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Condensed Financial Statements 2 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements2TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Condensed Financial Statements 3 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements3TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Condensed Financial Statements 4 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements4TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Condensed Financial Statements 5 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements5TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Condensed Financial Statements 6 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements6TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Condensed Financial Statements 7 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements7TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Condensed Financial Statements 8 + References No definition available. + Details
Name: | oas_CondensedFinancialStatements8TextBlock
Namespace Prefix: | oas_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph d -Subparagraph 4 -Subsection 10 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph c -Subparagraph 4 -Subsection 10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph a -Subsection 04 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph e -Subparagraph 4 -Subsection 10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph f -Subparagraph 4 -Subsection 10 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | srt_CondensedFinancialStatementsTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration