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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
1 Months Ended 9 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2021
Nov. 19, 2020
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues            
Total revenues $ 119,915 $ 1,150,558 $ 963,419   $ 2,071,744 $ 2,321,947
Operating expenses            
Lease operating expenses 17,841 98,888 118,372   223,384 193,912
Gathering, processing and transportation expenses 9,124 52,596 85,896   128,806 107,193
Production taxes 5,938 50,933 45,439   112,592 133,696
Depreciation, depletion and amortization 16,094 112,581 291,115   787,192 636,296
Exploration expenses 0 1,936 2,748   6,658 27,432
Rig termination         384  
Impairment 0 5 4,937,143   10,257 384,228
General and administrative expenses 14,224 60,461 145,294   143,506 121,346
Litigation settlement 0   22,750    
Total operating expenses 81,150 649,033 5,885,574   1,912,866 2,231,522
Gain on sale of properties 11 228,473 10,396   (4,455) 28,587
Operating income (loss) 38,776 729,998 (4,911,759)   154,423 119,012
Other expense            
Net loss on derivative instruments(1) (84,615) (550,342) 233,565   (106,314) 28,457
Interest expense, net of capitalized interest (3,168) (49,421) (181,484)   (176,223) (159,085)
Gain on extinguishment of debt 0   83,867   4,312  
Reorganization items, net 0   786,831      
Other expense (402) (859) 1,407   440 (13,848)
Total other expense (88,185) (600,622) 924,186   (277,785) (144,355)
Income (loss) from continuing operations before income taxes (49,409) 129,376 (3,987,573)   (123,362) (25,343)
Income tax benefit (expense) 3,447 0 262,962   32,715 5,843
Net income (loss) from continuing operations including non-controlling interests (45,962) 129,376 (3,724,611)   (90,647) (19,500)
Net income from continuing operations attributable to non-controlling interests 3,950 27,654 (84,283)   37,596 15,796
Net income (loss) from continuing operations attributable to Oasis $ (49,912) $ 101,722 $ (3,640,328)   $ (128,243) $ (35,296)
Net loss from continuing operations attributable to Oasis per share:            
Basic (in dollars per share) $ (2.50) $ 5,110 $ (11.46)   $ (0.41) $ (0.11)
Diluted (in dollars per share) $ (2.50) $ 4,960 $ (11.46) $ (229.05) $ (0.41) $ (0.11)
Weighted average shares outstanding:            
Basic (in shares) 19,991,000 19,905 317,644,000   315,002,000 307,480,000
Diluted (in shares) 19,991,000 20,508 317,644,000   315,002,000 307,480,000
Pro Forma            
Revenues            
Total revenues   $ 1,295,711   $ 1,073,369 $ 1,930,797 $ 2,202,907
Operating expenses            
Lease operating expenses   200,773   235,299 288,690 247,523
Gathering, processing and transportation expenses   113,170   154,707 174,026 131,963
Production taxes   76,244   71,188 112,592 133,696
Depreciation, depletion and amortization   144,000   341,878 771,640 624,011
Exploration expenses   1,605   2,539 6,658 27,432
Rig termination         384  
Impairment   0   3,829,848 10,257 384,228
General and administrative expenses   61,591   143,092 148,595 127,749
Litigation settlement       22,750    
Total operating expenses   849,556   5,031,739 2,016,517 2,272,708
Gain on sale of properties   1,058   237,822 (4,455) 28,587
Operating income (loss)   447,213   (3,720,548) (90,175) (41,214)
Other expense            
Net loss on derivative instruments(1)   (550,342)   148,950 (106,314) 28,457
Interest expense, net of capitalized interest   (34,846)   (171,012) (159,287) (156,742)
Gain on extinguishment of debt       83,867 4,312  
Other expense   (521)   865 569 (13,848)
Total other expense   (585,709)   62,670 (260,720) (142,012)
Income (loss) from continuing operations before income taxes   (138,496)   (3,657,878) (350,895) (183,226)
Income tax benefit (expense)   0   188,692 32,715 5,843
Net income (loss) from continuing operations including non-controlling interests   (138,496)   $ (3,469,186) (318,180) (177,383)
Net income from continuing operations attributable to non-controlling interests   0     0 0
Net income (loss) from continuing operations attributable to Oasis   $ (138,496)     $ (318,180) $ (177,383)
Net loss from continuing operations attributable to Oasis per share:            
Basic (in dollars per share)   $ (6,960)   $ (173.54) $ (1.01) $ (0.58)
Diluted (in dollars per share)   $ (6,960)   $ (173.54) $ (1.01) $ (0.58)
Weighted average shares outstanding:            
Basic (in shares)   19,905   19,991,000 315,002,000 307,480,000
Diluted (in shares)   19,905   19,991,000 315,002,000 307,480,000
Successor and Predecessor Pro Forma Combined            
Revenues            
Total revenues       $ 952,450    
Operating expenses            
Lease operating expenses       182,923    
Gathering, processing and transportation expenses       131,082    
Production taxes       51,377    
Depreciation, depletion and amortization       284,791    
Exploration expenses       2,748    
Impairment       4,825,530    
General and administrative expenses       142,885    
Litigation settlement       22,750    
Total operating expenses       5,901,357    
Gain on sale of properties       10,407    
Operating income (loss)       (4,938,500)    
Other expense            
Net loss on derivative instruments(1)       148,950    
Interest expense, net of capitalized interest       (143,856)    
Gain on extinguishment of debt       83,867    
Reorganization items, net       0    
Other expense       870    
Total other expense       89,831    
Income (loss) from continuing operations before income taxes       (4,848,669)    
Income tax benefit (expense)       269,743    
Net income (loss) from continuing operations including non-controlling interests       (4,578,926)    
Net income from continuing operations attributable to non-controlling interests       0    
Net income (loss) from continuing operations attributable to Oasis       $ (4,578,926)    
Net loss from continuing operations attributable to Oasis per share:            
Basic (in dollars per share)       $ (229.05)    
Diluted (in dollars per share)       $ (229.05)    
Weighted average shares outstanding:            
Basic (in shares)       19,991,000    
Diluted (in shares)       19,991,000    
Discontinued Operations            
Revenues            
Total revenues $ (12,922) $ (92,208) $ (117,962)   $ (140,947) $ (119,040)
Operating expenses            
Lease operating expenses 4,676 47,526 42,034   65,306 53,611
Gathering, processing and transportation expenses 4,074 38,324 31,988   45,220 24,770
Production taxes 0 0 0   0 0
Depreciation, depletion and amortization (2,305) (28,605) (20,113)   (15,552) (12,285)
Exploration expenses 0 0 0   0 0
Rig termination         0  
Impairment 0 (2) (111,613)   0 0
General and administrative expenses 579 1,039 310   5,089 6,403
Litigation settlement 0   0      
Total operating expenses 9,373 62,485 (57,218)   103,651 41,186
Gain on sale of properties 0 0 0   0 0
Operating income (loss) (22,295) (154,693) (60,744)   (244,598) (160,226)
Other expense            
Net loss on derivative instruments(1) 0 0 0   0 0
Interest expense, net of capitalized interest 1,148 26,372 39,648   16,936 2,343
Gain on extinguishment of debt 0   0   0  
Reorganization items, net 0   0      
Other expense 1 63 (136)   129 0
Total other expense 1,149 26,435 39,512   17,065 2,343
Income (loss) from continuing operations before income taxes (21,146) (128,258) (21,232)   (227,533) (157,883)
Income tax benefit (expense) 0 0 0   0 0
Net income (loss) from continuing operations including non-controlling interests (21,146) (128,258) (21,232)   (227,533) (157,883)
Net income from continuing operations attributable to non-controlling interests (3,950) (27,654) 6,546   (37,596) (15,796)
Net income (loss) from continuing operations attributable to Oasis (17,196) (100,604) (27,778)   (189,937) (142,087)
Fresh Start Accounting–Discontinued Operations            
Revenues            
Total revenues     0      
Operating expenses            
Lease operating expenses     0      
Gathering, processing and transportation expenses     0      
Production taxes     0      
Depreciation, depletion and amortization     0      
Exploration expenses     0      
Impairment     0      
General and administrative expenses     (904)      
Litigation settlement     0      
Total operating expenses     (904)      
Gain on sale of properties     0      
Operating income (loss)     904      
Other expense            
Net loss on derivative instruments(1)     0      
Interest expense, net of capitalized interest     0      
Gain on extinguishment of debt     0      
Reorganization items, net     (120,915)      
Other expense     0      
Total other expense     (120,915)      
Income (loss) from continuing operations before income taxes     (120,011)      
Income tax benefit (expense)     0      
Net income (loss) from continuing operations including non-controlling interests     (120,011)      
Net income from continuing operations attributable to non-controlling interests     77,737      
Net income (loss) from continuing operations attributable to Oasis     (197,748)      
As Adjusted            
Revenues            
Total revenues 106,993 1,058,350 845,457      
Operating expenses            
Lease operating expenses 22,517 146,414 160,406      
Gathering, processing and transportation expenses 13,198 90,920 117,884      
Production taxes 5,938 50,933 45,439      
Depreciation, depletion and amortization 13,789 83,976 271,002      
Exploration expenses 0 1,936 2,748      
Impairment 0 3 4,825,530      
General and administrative expenses 14,803 61,500 144,700      
Litigation settlement 0   22,750      
Total operating expenses 90,523 711,518 5,827,452      
Gain on sale of properties 11 228,473 10,396      
Operating income (loss) 16,481 575,305 (4,971,599)      
Other expense            
Net loss on derivative instruments(1) (84,615) (550,342) 233,565      
Interest expense, net of capitalized interest (2,020) (23,049) (141,836)      
Gain on extinguishment of debt 0   83,867      
Reorganization items, net 0   665,916      
Other expense (401) (796) 1,271      
Total other expense (87,036) (574,187) 842,783      
Income (loss) from continuing operations before income taxes (70,555) 1,118 (4,128,816)      
Income tax benefit (expense) 3,447 0 262,962      
Net income (loss) from continuing operations including non-controlling interests (67,108) 1,118 (3,865,854)      
Net income from continuing operations attributable to non-controlling interests 0 0 0      
Net income (loss) from continuing operations attributable to Oasis (67,108) 1,118 (3,865,854)      
Fresh Start Accounting–Continuing Operations            
Revenues            
Total revenues     0      
Operating expenses            
Lease operating expenses     0      
Gathering, processing and transportation expenses     0      
Production taxes     0      
Depreciation, depletion and amortization     0      
Exploration expenses     0      
Impairment     0      
General and administrative expenses     (16,618)      
Litigation settlement     0      
Total operating expenses     (16,618)      
Gain on sale of properties     0      
Operating income (loss)     16,618      
Other expense            
Net loss on derivative instruments(1)     0      
Interest expense, net of capitalized interest     0      
Gain on extinguishment of debt     0      
Reorganization items, net     (665,916)      
Other expense     0      
Total other expense     (665,916)      
Income (loss) from continuing operations before income taxes     (649,298)      
Income tax benefit (expense)     3,334      
Net income (loss) from continuing operations including non-controlling interests     (645,964)      
Net income from continuing operations attributable to non-controlling interests     0      
Net income (loss) from continuing operations attributable to Oasis     (645,964)      
As Further Adjusted            
Revenues            
Total revenues     845,457      
Operating expenses            
Lease operating expenses     160,406      
Gathering, processing and transportation expenses     117,884      
Production taxes     45,439      
Depreciation, depletion and amortization     271,002      
Exploration expenses     2,748      
Impairment     4,825,530      
General and administrative expenses     128,082      
Litigation settlement     22,750      
Total operating expenses     5,810,834      
Gain on sale of properties     10,396      
Operating income (loss)     (4,954,981)      
Other expense            
Net loss on derivative instruments(1)     233,565      
Interest expense, net of capitalized interest     (141,836)      
Gain on extinguishment of debt     83,867      
Reorganization items, net     0      
Other expense     1,271      
Total other expense     176,867      
Income (loss) from continuing operations before income taxes     (4,778,114)      
Income tax benefit (expense)     266,296      
Net income (loss) from continuing operations including non-controlling interests     (4,511,818)      
Net income from continuing operations attributable to non-controlling interests     0      
Net income (loss) from continuing operations attributable to Oasis     (4,511,818)      
Williston Basin Acquisition            
Revenues            
Total revenues   328,921   $ 245,340    
Operating expenses            
Lease operating expenses   66,034   74,712    
Gathering, processing and transportation expenses   24,792   30,287    
Production taxes   28,635   24,232    
Depreciation, depletion and amortization   0   0    
Exploration expenses   0   0    
Impairment   0   0    
General and administrative expenses   0   0    
Litigation settlement       0    
Total operating expenses   119,461   129,231    
Gain on sale of properties   0   0    
Operating income (loss)   209,460   116,109    
Other expense            
Net loss on derivative instruments(1)   0   0    
Interest expense, net of capitalized interest   0   0    
Gain on extinguishment of debt       0    
Other expense   0   0    
Total other expense   0   0    
Income (loss) from continuing operations before income taxes   209,460   116,109    
Income tax benefit (expense)   0   0    
Net income (loss) from continuing operations including non-controlling interests   209,460   116,109    
Net income from continuing operations attributable to non-controlling interests   0        
Net income (loss) from continuing operations attributable to Oasis   209,460        
Other Transaction Accounting Adjustments, Williston Basin Acquisition            
Revenues            
Total revenues   0   0    
Operating expenses            
Lease operating expenses   0   0    
Gathering, processing and transportation expenses   0   0    
Production taxes   0   0    
Depreciation, depletion and amortization   68,645   96,885    
Exploration expenses   0   0    
Impairment   0   0    
General and administrative expenses   951   3,668    
Litigation settlement       0    
Total operating expenses   69,596   100,553    
Gain on sale of properties   0   0    
Operating income (loss)   (69,596)   (100,553)    
Other expense            
Net loss on derivative instruments(1)   0   0    
Interest expense, net of capitalized interest   0   0    
Gain on extinguishment of debt       0    
Other expense   0   0    
Total other expense   0   0    
Income (loss) from continuing operations before income taxes   (69,596)   (100,553)    
Income tax benefit (expense)   0   0    
Net income (loss) from continuing operations including non-controlling interests   (69,596)   (100,553)    
Net income from continuing operations attributable to non-controlling interests   0        
Net income (loss) from continuing operations attributable to Oasis   (69,596)        
Permian Basin Sale            
Revenues            
Total revenues   (91,560)   (124,421)    
Operating expenses            
Lease operating expenses   (11,675)   (22,336)    
Gathering, processing and transportation expenses   (2,542)   (6,662)    
Production taxes   (3,324)   (4,421)    
Depreciation, depletion and amortization   (8,621)   (39,798)    
Exploration expenses   (331)   (209)    
Impairment   (3)   (995,682)    
General and administrative expenses   (860)   (3,461)    
Litigation settlement       0    
Total operating expenses   (51,019)   (1,099,402)    
Gain on sale of properties   (227,415)   227,415    
Operating income (loss)   (267,956)   1,202,396    
Other expense            
Net loss on derivative instruments(1)   0   0    
Interest expense, net of capitalized interest   0   0    
Gain on extinguishment of debt       0    
Other expense   275   (5)    
Total other expense   275   (5)    
Income (loss) from continuing operations before income taxes   (267,681)   1,202,391    
Income tax benefit (expense)   0   (81,051)    
Net income (loss) from continuing operations including non-controlling interests   (267,681)   1,121,340    
Net income from continuing operations attributable to non-controlling interests   0        
Net income (loss) from continuing operations attributable to Oasis   (267,681)        
Other Transaction Accounting Adjustments, Oasis Senior Notes            
Revenues            
Total revenues   0   0    
Operating expenses            
Lease operating expenses   0   0    
Gathering, processing and transportation expenses   0   0    
Production taxes   0   0    
Depreciation, depletion and amortization   0   0    
Exploration expenses   0   0    
Impairment   0   0    
General and administrative expenses   0   0    
Litigation settlement       0    
Total operating expenses   0   0    
Gain on sale of properties   0   0    
Operating income (loss)   0   0    
Other expense            
Net loss on derivative instruments(1)   0   0    
Interest expense, net of capitalized interest   (11,797)   (27,156)    
Gain on extinguishment of debt       0    
Other expense   0   0    
Total other expense   (11,797)   (27,156)    
Income (loss) from continuing operations before income taxes   (11,797)   (27,156)    
Income tax benefit (expense)   0   0    
Net income (loss) from continuing operations including non-controlling interests   (11,797)   (27,156)    
Net income from continuing operations attributable to non-controlling interests   0        
Net income (loss) from continuing operations attributable to Oasis   (11,797)        
Oil and Gas Services            
Revenues            
Total revenues 86,442 782,324 603,585   1,408,771 1,590,024
Operating expenses            
Rig termination 0   1,279      
Oil and Gas Services | Pro Forma            
Revenues            
Total revenues   1,040,101   833,706 1,407,809 1,590,024
Operating expenses            
Rig termination       0    
Oil and Gas Services | Successor and Predecessor Pro Forma Combined            
Revenues            
Total revenues       687,655    
Operating expenses            
Rig termination       1,279    
Oil and Gas Services | Discontinued Operations            
Revenues            
Total revenues (297) (866) (2,075)   (962) 0
Operating expenses            
Rig termination 0   0      
Oil and Gas Services | Fresh Start Accounting–Discontinued Operations            
Revenues            
Total revenues     0      
Operating expenses            
Rig termination     0      
Oil and Gas Services | As Adjusted            
Revenues            
Total revenues 86,145 781,458 601,510      
Operating expenses            
Rig termination 0   1,279      
Oil and Gas Services | Fresh Start Accounting–Continuing Operations            
Revenues            
Total revenues     0      
Operating expenses            
Rig termination     0      
Oil and Gas Services | As Further Adjusted            
Revenues            
Total revenues     601,510      
Operating expenses            
Rig termination     1,279      
Oil and Gas Services | Williston Basin Acquisition            
Revenues            
Total revenues   328,921   245,340    
Operating expenses            
Rig termination       0    
Oil and Gas Services | Other Transaction Accounting Adjustments, Williston Basin Acquisition            
Revenues            
Total revenues   0   0    
Operating expenses            
Rig termination       0    
Oil and Gas Services | Permian Basin Sale            
Revenues            
Total revenues   (70,278)   (99,289)    
Operating expenses            
Rig termination       (1,279)    
Oil and Gas Services | Other Transaction Accounting Adjustments, Oasis Senior Notes            
Revenues            
Total revenues   0   0    
Operating expenses            
Rig termination       0    
Purchased Oil and Gas            
Revenues            
Total revenues 7,227 183,885 186,367   408,791 550,344
Operating expenses            
Expenses 7,357 187,745 185,893   409,180 553,461
Purchased Oil and Gas | Pro Forma            
Revenues            
Total revenues   255,068   232,612 481,014 551,808
Operating expenses            
Expenses   252,126   223,780 474,914 554,906
Purchased Oil and Gas | Successor and Predecessor Pro Forma Combined            
Revenues            
Total revenues       257,744    
Operating expenses            
Expenses       249,334    
Purchased Oil and Gas | Discontinued Operations            
Revenues            
Total revenues 13,406 92,465 50,744   72,223 1,464
Operating expenses            
Expenses 12,921 88,044 43,163   65,734 1,445
Purchased Oil and Gas | Fresh Start Accounting–Discontinued Operations            
Revenues            
Total revenues     0      
Operating expenses            
Expenses     0      
Purchased Oil and Gas | As Adjusted            
Revenues            
Total revenues 20,633 276,350 237,111      
Operating expenses            
Expenses 20,278 275,789 229,056      
Purchased Oil and Gas | Fresh Start Accounting–Continuing Operations            
Revenues            
Total revenues     0      
Operating expenses            
Expenses     0      
Purchased Oil and Gas | As Further Adjusted            
Revenues            
Total revenues     237,111      
Operating expenses            
Expenses     229,056      
Purchased Oil and Gas | Williston Basin Acquisition            
Revenues            
Total revenues   0   0    
Operating expenses            
Expenses   0   0    
Purchased Oil and Gas | Other Transaction Accounting Adjustments, Williston Basin Acquisition            
Revenues            
Total revenues   0   0    
Operating expenses            
Expenses   0   0    
Purchased Oil and Gas | Permian Basin Sale            
Revenues            
Total revenues   (21,282)   (25,132)    
Operating expenses            
Expenses   (23,663)   (25,554)    
Purchased Oil and Gas | Other Transaction Accounting Adjustments, Oasis Senior Notes            
Revenues            
Total revenues   0   0    
Operating expenses            
Expenses   0   0    
Midstream Total            
Revenues            
Total revenues 26,031 183,807 166,631   212,208 120,504
Operating expenses            
Expenses 10,572 83,841 42,987   62,146 32,758
Midstream Total | Pro Forma            
Revenues            
Total revenues   0     0 0
Operating expenses            
Expenses   0     0 0
Midstream Total | Successor and Predecessor Pro Forma Combined            
Revenues            
Total revenues       0    
Operating expenses            
Expenses       0    
Midstream Total | Discontinued Operations            
Revenues            
Total revenues (26,031) (183,807) (166,631)   (212,208) (120,504)
Operating expenses            
Expenses (10,572) (83,841) (42,987)   (62,146) (32,758)
Midstream Total | Fresh Start Accounting–Discontinued Operations            
Revenues            
Total revenues     0      
Operating expenses            
Expenses     0      
Midstream Total | As Adjusted            
Revenues            
Total revenues 0 0 0      
Operating expenses            
Expenses 0 0 0      
Midstream Total | Fresh Start Accounting–Continuing Operations            
Revenues            
Total revenues     0      
Operating expenses            
Expenses     0      
Midstream Total | As Further Adjusted            
Revenues            
Total revenues     0      
Operating expenses            
Expenses     0      
Midstream Total | Williston Basin Acquisition            
Revenues            
Total revenues   0        
Operating expenses            
Expenses   0        
Midstream Total | Other Transaction Accounting Adjustments, Williston Basin Acquisition            
Revenues            
Total revenues   0        
Operating expenses            
Expenses   0        
Midstream Total | Permian Basin Sale            
Revenues            
Total revenues   0        
Operating expenses            
Expenses   0        
Midstream Total | Other Transaction Accounting Adjustments, Oasis Senior Notes            
Revenues            
Total revenues   0        
Operating expenses            
Expenses   0        
Other Services            
Revenues            
Total revenues 215 542 6,836   41,974 61,075
Operating expenses            
Expenses 0 47 6,658   28,761 41,200
Other Services | Pro Forma            
Revenues            
Total revenues   542   7,051 41,974 61,075
Operating expenses            
Expenses   47   6,658 28,761 41,200
Other Services | Successor and Predecessor Pro Forma Combined            
Revenues            
Total revenues       7,051    
Operating expenses            
Expenses       6,658    
Other Services | Discontinued Operations            
Revenues            
Total revenues 0 0 0   0 0
Operating expenses            
Expenses 0 0 0   $ 0 $ 0
Other Services | Fresh Start Accounting–Discontinued Operations            
Revenues            
Total revenues     0      
Operating expenses            
Expenses     0      
Other Services | As Adjusted            
Revenues            
Total revenues 215 542 6,836      
Operating expenses            
Expenses $ 0 47 6,658      
Other Services | Fresh Start Accounting–Continuing Operations            
Revenues            
Total revenues     0      
Operating expenses            
Expenses     0      
Other Services | As Further Adjusted            
Revenues            
Total revenues     6,836      
Operating expenses            
Expenses     $ 6,658      
Other Services | Williston Basin Acquisition            
Revenues            
Total revenues   0   0    
Operating expenses            
Expenses   0   0    
Other Services | Other Transaction Accounting Adjustments, Williston Basin Acquisition            
Revenues            
Total revenues   0   0    
Operating expenses            
Expenses   0   0    
Other Services | Permian Basin Sale            
Revenues            
Total revenues   0   0    
Operating expenses            
Expenses   0   0    
Other Services | Other Transaction Accounting Adjustments, Oasis Senior Notes            
Revenues            
Total revenues   0   0    
Operating expenses            
Expenses   $ 0   $ 0