Oasis Petroleum (OAS) had a good 3rd quarter. I have updated my forecast model and it will be posted to the EPG website later today.
My Fair Value Estimate is now $17.30/share. Lowered because I am now using 4X operating cash flow per share. First Call's price target is $14.04.
If WTI moves back over $60/bbl there is a lot of upside in this one for us, however production will be down about 1,500 boepd in Q4 because they have elected to delay a lot of well completions.
I will probably drop OAS from the Sweet 16 at year-end. AR and NBL are top candidates to replace it.