|Bid||0.7010 x 800|
|Ask||0.7000 x 1200|
|Day's Range||0.6340 - 0.7200|
|52 Week Range||0.2400 - 5.3300|
|Beta (5Y Monthly)||3.72|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug. 04, 2020 - Aug. 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.75|
This trio of energy names got a big daily boost from oil prices, but that's just part of a much larger story here.
The exploration and production names got a shot in the arm today as investors took a positive view of the economic future.
(Bloomberg) -- The weakest oil and gas companies are facing heightened liquidity pressure after bank lenders cut their exposure amid low commodity prices.Most high-yield borrowers saw their reserve-based loans cut after their spring redetermination, according to a new report from S&P Global Ratings. Borrowing bases, which are determined by the collateral value of oil and gas reserves, were cut by an average of 23%. Credit commitments were cut by 15% on average, the ratings company said.“This redetermination cycle has been more prolonged and less forgiving than previous cycles, with a number of the most distressed E&Ps still working through the process,” S&P analysts Paul O’Donnell and Carin Dehne-Kiley wrote in the report. S&P looked at 34 companies that have announced the results of their bank redetermination.A reduction in borrowing capacity for high-yield energy companies comes at a time when they most need access to liquidity. Oil and gas prices fell to historic lows as the coronavirus pandemic slashed demand, and Saudi Arabia and Russia competed for market share. Capital markets have remained closed to most energy borrowers, sending the weakest companies into bankruptcy.Drawn BalancesThe average drawn balance on high-yield producer credit facilities is now more than 50%, with about a third of producers drawn at more than 70% of elected commitments, according to S&P.Chaparral Energy Inc. and Oasis Petroleum Inc. faced the worst cuts on a percentage basis, with their elected commitments cut by 46% and 44%, respectively, S&P said. Chaparral saw its borrowing base cut by 46% and Oasis was cut by 53%.Along with Chaparral, Bruin E&P Partners LLC and Jonah Energy LLC saw their commitments cut below the drawn amount, requiring them to repay the deficit within six months.Banks also tightened their protections on credit facilities, including lower leverage thresholds, anti-cash hoarding restrictions, reduced dividend caps, limits to the amount of unsecured debt that can be repurchased and higher interest rates, S&P said.“These amendments point to the waning confidence and risk tolerance that the banks have for the sector,” the analysts wrote.Representatives for Chaparral, Oasis, Bruin E&P and Jonah Energy weren’t immediately available to comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of U.S. exploration and production company Oasis Petroleum (NYSE: OAS) fell as much as 36% in early trading on June 10. QEP Resources (NYSE: QEP) dropped 33% and SM Energy (NYSE: SM) fell a relatively modest 16% or so. In fact, over the past five days, the shares of SM Energy are still up 29%.
Yahoo Finance’s Jared Blikre joins Heidi Chung to discuss the latest oil & energy outlook as OPEC and allies agree to extend record oil production cut.
Oasis Petroleum's (OAS) lease operating expenses decrease to $6.83 per barrel of oil equivalent (Boe) from the year-ago figure of $7.08 per Boe.
Oil prices imploded earlier this year, which has decimated many oil stocks. Things have gotten so bad that several have already declared bankruptcy. Four that seem to be likely bankruptcy candidates this year are Borr Drilling (NYSE: BORR), California Resources (NYSE: CRC), Denbury Resources (NYSE: DNR), and Oasis Petroleum (NYSE: OAS).
My name is Brandon and I'll be your conference operator today. At this time, I'd like to welcome everyone to the First Quarter 2020 Earnings Release and Operations Update for Oasis Petroleum. Today, Oasis management will discuss first quarter 2020 results in the current environment.
Lower activity and downtime associated with cold weather is likely to have negatively impacted Oasis Petroleum's (OAS) output in the to-be-reported quarter.
Nearly every corner of the oil world has been affected, and billions of dollars in investor capital has already been destroyed. The oil patch is in a massive mess that could take a year or more to correct, and more companies are going to struggle badly and destroy lots more shareholder equity before it gets better. Five oil stocks in particular that investors should avoid are Occidental Petroleum (NYSE: OXY), Oasis Petroleum (NYSE: OAS), Halliburton Co (NYSE: HAL), Chesapeake Energy (NYSE: CHK), and Valaris plc (NYSE: VAL).
We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are...
Cowen Senior Analyst Gabriel Daoud joins On The Move to discuss the firm’s decision to downgrade multiple oil and gas companies following OPEC's failure to strike a deal on production cuts.
As every investor would know, not every swing hits the sweet spot. But you want to avoid the really big losses like...
Even as uncertainties flare over when at how Iran will retaliate after a U.S. airstrike took out one of its top Iranian military commanders, markets have taken hold of two grounding principles, according to Mohamed El-Erian.
Canada’s long-suffering energy sector likely isn’t in position to take advantage if supply drops in the Middle East, analysts say.
Oil prices spiked in the immediate aftermath of the Department of Defense’s confirmation of an airstrike that killed a top Iranian military commander.
Tommy Nusz has been the CEO of Oasis Petroleum Inc. (NYSE:OAS) since 2007. This report will, first, examine the CEO...
Oasis Petroleum (OAS) expects 2019 capex for the midstream segment within $212-$222 million, lower than the past projection of $219-$230 million.
Oasis (OAS) delivered earnings and revenue surprises of -400.00% and 2.06%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?