Oasis Petroleum Profit Falls Amid Sales Growth, Misses Estimate - Quick Facts

(RTTNews) - Oasis Petroleum Inc (OAS) Tuesday reported second-quarter net earnings of $38.8 million or $0.39 per share, compared with $67 million or $0.72 per share last year.

Results for the 2014 quarter included derivative losses of $65.6 million.

Excluding items, adjusted earnings for the quarter were $0.70 per share, compared with $0.65 per share a year ago.

Revenue for the quarter was $372.4 million, compared with $254.6 million in the prior year.

Analysts polled by Thomson Reuters projected earnings of $0.74 per share on revenue of $368 million for the quarter. Analysts' estimates typically exclude special items.

During the quarter, the company's average daily production increased 45% from last year to 43,668 barrels of oil equivalent per day (boepd).

For the third quarter, the company expects production to range between 47,000 and 49,000 boepd.