Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Basic earnings (loss) per share is computed by dividing the earnings (loss) attributable to Oasis common stockholders by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings (loss) per share includes the effect of potentially dilutive shares outstanding for the period using the treasury stock method, unless its effect is anti-dilutive. For the Successor periods, potentially dilutive shares outstanding include unvested restricted stock awards, warrants and contingently issuable shares related to RSUs, PSUs and LSUs. For the Predecessor periods, potentially dilutive shares outstanding included Predecessor unvested restricted stock awards, Predecessor contingently issuable shares related to PSUs and Predecessor senior convertible notes. There were no adjustments made to the income (loss) attributable to Oasis available to common stockholders in the calculation of diluted earnings (loss) per share during either the Successor period or Predecessor period.

The following table summarizes the basic and diluted weighted average common shares outstanding and the weighted average common shares excluded from the calculation of diluted weighted average common shares outstanding due to the anti-dilutive effect for the periods presented (in thousands):


	Successor		Predecessor
	Year Ended December 31, 2021	Period from November 20, 2020 through December 31, 2020	Period from January 1, 2020 through November 19, 2020	Year Ended December 31, 2019


Weighted average common shares outstanding:
Basic	19,792	19,991	317,644	315,002
Dilutive effect of equity-classified awards	856	—	—	—
Dilutive effect of warrants	—	—	—	—
Diluted	20,648	19,991	317,644	315,002
Anti-dilutive weighted average common shares:
Potential common shares	2,144	1,631	5,216	9,242

For the year ended December 31, 2021 (Successor), the diluted earnings per share calculation excludes the impact of unvested share based awards and outstanding warrants that were anti-dilutive under the treasury stock method. During the period from November 20, 2020 through December 31, 2020 (Successor), the period from January 1, 2020 through November 19, 2020 (Predecessor) and the year ended December 31, 2019 (Predecessor), the Company incurred a net loss, and therefore the diluted loss per share calculation for those periods excludes the anti-dilutive effect of unvested share based awards and outstanding warrants.