Oasis ends Q3 with $1.35 billion liquidity, $27.1 million net income

By Lisa Kerner

Charlotte, N.C., Nov. 4 – Oasis Petroleum Inc. ended its third quarter on Sept. 30 with $1.35 billion of liquidity, said chief financial officer Michael Lou during the company’s earnings call on Wednesday.

The company ended the quarter with cash and cash equivalents of $12.3 million, said chief financial officer Michael Lou during the earnings conference call on Wednesday.

“We continue to have a great liquidity position, as our lenders set our borrowing base at $1.525 billion in October 2015, which was equal to the elected commitment amount,” Lou said.

Interest expense was down about $3 million year over year, $36.5 million for the quarter.

Third-quarter adjusted EBITDA was down 21% year over year at $189.2 million.

Net income for the quarter was $27.1 million, or $0.20 per diluted share, compared to net income of $121.6 million, or $1.21 per diluted share, for the third quarter of 2014.

Oasis is a Houston-based oil and natural gas company.

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