Chord Energy (CHRD) 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	OAS
Entity Registrant Name	Oasis Petroleum Inc.
Entity Central Index Key	1,486,159
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		317,308,489

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 17,735	$ 16,720
Accounts receivable, net	370,978	363,580
Inventory	23,039	19,367
Prepaid expenses	5,954	7,631
Derivative instruments	0	344
Intangible assets, net	958	0
Other current assets	193	193
Total current assets	418,857	407,835
Property, plant and equipment
Oil and gas properties (successful efforts method)	8,911,096	7,838,955
Other property and equipment	963,871	868,746
Less: accumulated depreciation, depletion, amortization and impairment	(2,688,361)	(2,534,215)
Total property, plant and equipment, net	7,186,606	6,173,486
Derivative instruments	0	9
Long-term inventory	12,506	12,200
Other assets	20,961	21,600
Total assets	7,638,930	6,615,130
Current liabilities
Accounts payable	16,127	13,370
Revenues and production taxes payable	245,198	213,995
Accrued liabilities	233,422	236,480
Accrued interest payable	20,681	38,963
Derivative instruments	149,657	115,716
Advances from joint interest partners	4,888	4,916
Other current liabilities	40	40
Total current liabilities	670,013	623,480
Long-term debt	2,696,534	2,097,606
Deferred income taxes	306,749	305,921
Asset retirement obligations	51,955	48,511
Derivative instruments	19,699	19,851
Other liabilities	7,822	6,182
Total liabilities	3,752,772	3,101,551
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding at March 31, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	3,154	2,668
Treasury stock, at cost: 2,021,805 and 1,331,548 shares at March 31, 2018 and December 31, 2017, respectively	(28,200)	(22,179)
Additional paid-in capital	3,055,003	2,677,217
Retained earnings	718,575	717,985
Oasis share of stockholders’ equity	3,748,532	3,375,691
Non-controlling interests	137,626	137,888
Total stockholders’ equity	3,886,158	3,513,579
Total liabilities and stockholders’ equity	$ 7,638,930	$ 6,615,130

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	319,384,813	270,627,014
Common stock, shares outstanding (in shares)	317,363,008	269,295,466
Treasury stock, shares (in shares)	2,021,805	1,331,548

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Oil and gas revenues	$ 363,671	$ 237,252
Purchased oil and gas sales	18,037	27,631
Midstream revenues	27,922	14,606
Well services revenues	11,586	5,627
Total revenues	421,216	285,116
Operating expenses
Lease operating expenses	44,781	43,872
Midstream operating expenses	7,985	3,327
Well services operating expenses	7,387	4,560
Marketing, transportation and gathering expenses	21,013	10,951
Purchased oil and gas expenses	17,998	28,002
Production taxes	31,000	20,299
Depreciation, depletion and amortization	149,265	126,666
Exploration expenses	769	1,489
Impairment	93	2,682
General and administrative expenses	27,940	23,176
Total operating expenses	308,231	265,024
Operating income	112,985	20,092
Other income (expense)
Net gain (loss) on derivative instruments	(71,116)	56,075
Interest expense, net of capitalized interest	(37,146)	(36,321)
Other income (expense)	(183)	16
Total other income (expense)	(108,445)	19,770
Income before income taxes	4,540	39,862
Income tax expense	(828)	(16,037)
Net income including non-controlling interests	3,712	23,825
Less: Net income attributable to non-controlling interests	3,122	0
Net income attributable to Oasis	$ 590	$ 23,825
Earnings attributable to Oasis per share:
Basic (in dollars per share)	$ 0	$ 0.10
Diluted (in dollars per share)	$ 0	$ 0.10
Weighted average shares outstanding:
Basic (in shares)	290,105	233,068
Diluted (in shares)	291,738	237,900

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in-Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Balance (shares) at Dec. 31, 2017		269,295	1,332
Balance at Dec. 31, 2017	$ 3,513,579	$ 2,668	$ (22,179)	$ 2,677,217	$ 717,985	$ 137,888
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Permian Basin Acquisition issuance (shares)		46,000
Permian Basin Acquisition issuance	371,220	$ 460		370,760
Fees (2017 issuance of common stock) (shares)		0
Fees (2017 issuance of common stock)	(90)	$ 0		(90)		0
Equity-based compensation (shares)		2,758
Equity-based compensation	7,208	$ 26		7,116		66
Distributions to non-controlling interest owners	(3,450)					(3,450)
Treasury stock - tax withholdings (shares)		690	690
Treasury stock - tax withholdings	(6,021)		$ (6,021)			0
Net income	3,712				590	3,122
Balance (shares) at Mar. 31, 2018		317,363	2,022
Balance at Mar. 31, 2018	$ 3,886,158	$ 3,154	$ (28,200)	$ 3,055,003	$ 718,575	$ 137,626

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income including non-controlling interests	$ 3,712	$ 23,825
Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities:
Depreciation, depletion and amortization	149,265	126,666
Impairment	93	2,682
Deferred income taxes	828	16,037
Derivative instruments	71,116	(56,075)
Equity-based compensation expenses	6,754	6,708
Deferred financing costs amortization and other	5,475	4,940
Working capital and other changes:
Change in accounts receivable, net	(5,708)	(22,478)
Change in inventory	(3,672)	(3,679)
Change in prepaid expenses	492	282
Change in other current assets	0	(110)
Change in long-term inventory and other assets	(315)	(4)
Change in accounts payable, interest payable and accrued liabilities	(244)	6,060
Change in other current liabilities	0	2,945
Change in other liabilities	563	0
Net cash provided by operating activities	228,359	107,799
Cash flows from investing activities:
Capital expenditures	(254,838)	(96,047)
Acquisitions	(520,728)	0
Derivative settlements	(36,974)	(7,960)
Advances from joint interest partners	(28)	(759)
Net cash used in investing activities	(812,568)	(104,766)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities	1,470,000	246,000
Principal payments on Revolving Credit Facilities	(875,000)	(241,000)
Deferred financing costs	(215)	0
Purchases of treasury stock	(6,021)	(5,419)
Distributions to non-controlling interests	(3,450)	0
Other	(90)	(55)
Net cash provided by (used in) financing activities	585,224	(474)
Increase in cash and cash equivalents	1,015	2,559
Cash and cash equivalents:
Beginning of period	16,720	11,226
End of period	17,735	13,785
Supplemental non-cash transactions:
Change in accrued capital expenditures	12,855	8,396
Change in asset retirement obligations	3,453	787
Issuance of shares in connection with the Permian Basin Acquisition	$ 371,220	$ 0

Organization and Operations of

Organization and Operations of the Company	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Organization and Operations of the Company	Organization and Operations of the Company Oasis Petroleum Inc. (together with its consolidated subsidiaries, “Oasis” or the “Company”) was originally formed in 2007 and was incorporated pursuant to the laws of the State of Delaware in 2010. The Company is an independent exploration and production company focused on the acquisition and development of onshore, unconventional oil and natural gas resources in the United S tates. Oasis Petroleum North America LLC (“OPNA”) and Oasis Petroleum Permian LLC (“ OP Permian ”) conduct the Company’s exploration and production activities and own its proved and unproved oil and natural gas properties located in the North Dakota and Montana regions of the Williston Basin and the Texas regions of the Delaware Basin, respectively. The Company also operates a midstream services business through OMS Holdings LLC (“ OMS ”) and a well services business through Oasis Well Services LLC (“OWS”), both of which are separate reportable business segments that are complementary to its primary development and production activities. The midstream business is conducted by Oasis Midstream Partners LP (“ OMP ” or “ Oasis Midstream ”), which completed an initial public offering in September 2017. The Company owns the general partner and a majority of the outstanding units of OMP .

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the Condensed Consolidated Balance Sheet at December 31, 2017 is derived from audited financial statements. Certain reclassifications of prior year balances have been made to conform such amounts to current year classifications. These reclassifications have no impact on net income. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for the fair statement of the Company’s financial position, have been included. Management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. These interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete consolidated financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (“ 2017 Annual Report”). Consolidation. The accompanying condensed consolidated financial statements of the Company include the accounts of Oasis, the accounts of wholly-owned subsidiaries, and the accounts of OMP , which is considered a variable interest entity (“ VIE ”) for which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated upon consolidation. Consolidated VIE . The Company has determined that the partners with equity at risk in OMP lack the authority, through voting rights or similar rights, to direct the activities that most significantly impact OMP ’s economic performance. Therefore, as the limited partners of OMP do not have substantive kick-out or substantive participating rights over OMP GP LLC (“ OMP GP ”), the general partner to OMP , OMP is a VIE . Through the Company’s ownership interest in OMP GP , the Company has the authority to direct the activities that most significantly affect economic performance and the right to receive benefits that could be potentially significant to OMP . Therefore, the Company is considered the primary beneficiary and consolidates OMP and records a non-controlling interest for the interest owned by the public as of March 31, 2018 . Risks and Uncertainties As an oil and natural gas producer, the Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for oil and natural gas, which are dependent upon numerous factors beyond its control such as economic, political and regulatory developments and competition from other energy sources. The energy markets have historically been very volatile, and there can be no assurance that oil and natural gas prices will not be subject to wide fluctuations in the future. A substantial or extended decline in prices for oil and, to a lesser extent, natural gas could have a material adverse effect on the Company’s financial position, results of operations, cash flows and quantities of oil and natural gas reserves that may be economically produced. Significant Accounting Policies There have been no material changes to the Company’s critical accounting policies and estimates from those disclosed in the 2017 Annual Report, other than as noted below. Revenue recognition. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The objective of ASU 2014-09 is greater consistency and comparability across industries by using a five-step model to recognize revenue from customer contracts. ASU 2014-09 was applied on a modified retrospective basis. The adoption of ASU 2014-09 did not result in a material impact to the Company’s financial position, cash flows or results of operations. Enhanced disclosures in accordance with ASU 2014-09 have been provided in Note 3 – Revenue Recognition . Financial instruments. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which requires that most equity instruments be measured at fair value with subsequent changes in fair value recognized in net income. ASU 2016-01 also impacts financial liabilities under the fair value option and the presentation and disclosure requirements for financial instrume nts. ASU 2016-01 does not apply to equity method investments or investments in consolidated subsidiaries. ASU 2016-01 was applied on a prospective basis and prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 . Statement of cash flows. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2016-15, Statement of Cash Flows (“ASU 2016-15”), which is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. ASU 2016-15 was applied on a prospective basis and pri or periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 . Income taxes. In the fir st quarter of 2018, the Company adopted Accounting Standards Update No. 2016-16, Intra-Entity Transfers of Assets Other Than Invent ory (“ASU 2016-16”), to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. ASU 2016-16 was applied on a prospective basis and pri or periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 . Business combinations. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”), which provides guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 requires entities to use a screen test to determine when an integrated set of assets and activities is not a business or if the integrated set of assets and activities needs to be further evaluated against the framework. ASU 2017-01 was applied on a prospective basis and prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 . Equity-based compensation. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2017-09, Scope of Modification Accounting (“ASU 2017-09”), which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. ASU 2017-09 was applied on a prospective basis and pri or periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 . Recent Accounting Pronouncements Leas es. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases (“ASU 2016-02”), which requires a lessee to recognize lease payment obligations and a corresponding right-of-use asset to be measured at fair value on the balance sheet. ASU 2016-02 also requires certain qualitative and quantitative disclosures about the amount, timing and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. In January 2018, the FASB issued Accounting Standards Update No. 2018-01, Land easement practical expedient for transition to Topic 842 (“ASU 2018-01”), which provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounting for as leases under Topic 840, Leases . The Company plans to elect this practical expedient and is currently evaluating the effect that adopting the new lease guidance will have on its financial position, cash flows or results of operations. Income taxes. In March 2018, the FASB issued Accounting Standards Update No. 2018-05, Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (“ASU 2018-05”). The standard amends Accounting Standards Codification 740, Income Taxes (ASC 740) to provide guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (the “Tax Act”) pursuant to Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act ("SAB 118"). The Company is currently evaluating the effect of the new tax guidance, but does not expect it to have a material impact on its financial position, cash flows or results of operations. See Note 12 – Income Taxes .

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued a new accounting standard related to revenue recognition, ASC 606 - Revenue from Contracts with Customers (“ASC 606”) . This standard was effective in first quarter 2018 and the Company adopted the new standard using the modified retrospective method. The Company applied ASC 606 to all new contracts entered into after January 1, 2018 and all existing contracts for which all (or substantially all) of the revenue has not been recognized under legacy revenue guidance as of December 31, 2017. ASC 606 supersedes previous revenue recognition requirements in ASC 605 and includes a five-step revenue recognition model to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In accordance with the adoption of ASC 606, management evaluated its contracts with customers to apply the five-step revenue recognition model. The adoption of ASC 606 did not result in a material impact to the Company’s financial position, cash flows or results of operations. The unit of account in ASC 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided over a period of time. ASC 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. Exploration and production revenues Our exploration and production revenues are derived from contracts for oil, natural gas and NGL sales, as described below. Generally, for the major ity of these contracts: (i) each unit (barrel, mcf, gallon, etc.) of commodity product is a separate performance obligation, as our promise is to sell multiple distinct units of commodity product at a point in time; (ii) the transaction price principally consists of variable consideration, which amount is determinable each month end based on our right to invoice at month end for the value of commodity product sold to the customer that month; and (iii) the transaction price is allocated to each performance obligation based on the commodity product’s standalone selling price and recognized as revenue upon delivery of the commodity product, which is the point in time when the customer obtains control of the commodity product and our performance obligation is satisfied. The sales of oil, natural gas and NGLs as presented on the Company’s Condensed Consolidated Statements of Operations represent the Company’s share of revenues net of royalties and excluding revenue interests owned by others. When selling oil, natural gas and NGLs on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the expected sales volumes and prices for those properties are estimated and recorded. The Company’s contracts with customers typically require payments for oil, natural gas and NGL sales within 30 days following the calendar month of delivery. Oil sales. The Company sells a substantial majority of its oil through bulk sales at delivery points on crude oil gathering systems or directly at the wellhead to a variety of customers under short-term contracts that include a specified quantity of crude oil to be delivered and sold to the customer at a specified delivery point. The customer pays a market-based transaction price, which incorporates differentials that include, but are not limited to, transportation costs and adjustments for product quality. Natural gas sales. The Company’s natural gas sales consist of unprocessed gas sales and residue gas sales. Unprocessed gas is sold at delivery points at or near the wellhead under percentage of proceeds contracts, in which the customer pays a transaction price based on its sale of the bifurcated NGLs and residue gas, less any associated fees. Revenue is recorded on a net basis, with processing fees deducted within revenue rather than as a separate expense line item, as title and control transfer at the delivery point. Residue gas is sold from the tailgate of the Company’s gas processing plant located in Wild Basin or transported and sold at other downstream sales points, and the customer pays a transaction price based on a market indexed per-unit rate for the quantities sold. NGL sales. NGLs are sold from the Company’s gas processing plant complex located in Wild Basin or trucked and sold at other downstream locations, and the customer pays a transaction price based on a market indexed per-unit rate for the quantities sold. Prior period performance obligations. For sales of oil, purchased oil, natural gas, purchased gas and NGLs, the Company records revenue in the month production is delivered to the purchaser. However, settlement statements and payment may not be received for 30 to 90 days after the date production is delivered, and as a result, the Company is required to estimate the amount of production that was delivered to the purchaser and the price that will be received for the sale of the product. The Company records the differences between estimates and the actual amounts received for product sales once payment is received from the purchaser. Such differences have historically not been significant. The Company uses knowledge of its properties, its properties' historical performance, spot market prices and other factors as the basis for these estimates. For the three months ended March 31, 2018, revenue recognized related to performance obligations satisfied in prior reporting periods was not material. Revenues associated with contracts with customers for oil, natural gas and NGL sales were as follows for the three months ended March 31, 2018 and 2017 : Exploration and Production Revenues Three Months Ended March 31, 2018 2017 (In thousands) Oil revenues $ 323,386 $ 208,595 Purchased oil sales 17,989 27,630 Natural gas revenues 26,961 19,535 Purchased gas sales 49 — NGL revenues 13,323 9,124 Total exploration and production revenues $ 381,708 $ 264,884 Midstream revenues Crude oil and natural gas revenues. The Company is party to certain contracts for gas gathering, compression, processing and gas lift services, as well as crude oil gathering, stabilization, blending, storage and transportation. Under these customer contracts, the Company provides daily integrated midstream services on a stand ready basis over a period of time, which represents a single performance obligation since the customer simultaneously receives and consumes the benefits of these services on a daily basis. Satisfaction of the Company’s performance obligation is measured as each day of service is completed, which directly corresponds with its right to consideration from the customer. Revenues associated with these contracts are recognized based upon the transaction price at month-end under the right to invoice practical expedient. Payments from customers are generally received by the Company within one month after the month in which services are provided. Water revenues. The Company is also party to certain contracts with customers for water services, which includes produced and flowback water gathering and disposal services and freshwater distribution services. Under its customer contracts for produced and flowback water gathering and disposal services, the Company provides daily integrated midstream services on a stand ready basis over a period of time, which represents a single performance obligation since the customer simultaneously receives and consumes the benefits of these services on a daily basis. Satisfaction of the Company’s performance obligation is measured as each day of service is completed, which directly corresponds with its right to consideration from the customer. Revenues associated with these contracts are recognized based upon the transaction price at month-end under the right to invoice practical expedient. Payments from customers are generally received by the Company within one month after the month in which services are provided. Under its customer contracts for freshwater distribution services, the Company supplies and distributes freshwater to its customers for hydraulic fracturing and production optimization. Management has determined these contracts contain multiple distinct performance obligations since each freshwater barrel is not dependent nor highly interrelated with other barrels. Revenue associated with freshwater distribution services is recognized at a point-in-time based upon the transaction price when title, control and risk of loss transfers to the customer, which occurs at the delivery point. Payments are due from customers 30 days after receipt of invoice. Revenues associated with contracts with customers for midstream services were as follows for the three months ended March 31, 2018 and 2017 : Midstream Revenues (1) Three Months Ended March 31, 2018 2017 (In thousands) Crude oil and natural gas revenues $ 18,029 $ 8,551 Water revenues 9,893 6,055 Total midstream revenues $ 27,922 $ 14,606 __________________ (1) Represents midstream revenues excluding all intercompany revenues for work performed by the midstream services business segment for Oasis’s working interests that are eliminated in consolidation and are therefore not included in midstream services revenues. Well services revenues Hydraulic fracturing service revenues. Hydraulic fracturing revenue is recognized upon the completion of each hydraulic fracturing of a well. These services are composed of various components, such as personnel, equipment and hydraulic fracturing materials, but management determined that each component is not distinct, as it cannot be used on its own or together with a resource readily available to the customer. Revenue is recognized when the performance obligations of hydraulic fracturing a well in its totality are completed; generally, this is over a period of time due to all work being performed for a customer occurring on the customer’s property, where the customer has control over the work in process as it is being performed. In addition, the Company’s assets being used to perform the obligations have no alternative use at the time of performance and the Company has the right to payment for performance to date. Payments from customers are generally received by the Company within one month after the month in which services are provided. In addition, revenue from product sales to third parties is generated when OPNA requests that third-party hydraulic fracturing companies hydraulic fracture OPNA’s wells. Although the labor is provided by the third-party hydraulic fracturing company, the materials (e.g., sand, chemicals, etc.) used in the hydraulic fracturing of the wells are provided by OWS. The third-party hydraulic fracturing company or OPNA pays OWS for the materials delivered to the wells. Revenue is recognized once the performance obligations to transfer hydraulic fracturing materials are completed. Equipment rental revenues. Equipment rental revenue is generated when OPNA or a third-party hydraulic fracturing company rents equipment from OWS. This equipment is used in the preparation stage of hydraulic fracturing services or after the hydraulic fracturing services have been completed. Equipment rental revenues are calculated based on the equipment’s daily rental rate and the number of days that the equipment was rented by the customer. OWS’s performance obligation is satisfied when the entire rental period is completed. Equipment rental revenues are recognized over a period of time due to the customer simultaneously receiving and consuming the bene fits of the rental equipment provided by OWS on a daily basis. Satisfaction of the Company’s performance obligation is measured as each day of rental period is completed, which directly corresponds with its right to consideration from the customer. Revenues associated with these contracts are recognized at the time of invoicing for the entire rental period under the right to invoice practical expedient. Payments from customers are generally received by the Company within one month after the month in which services are provided. Revenues associated with contracts with customers for hydraulic fracturing services and equipment rental sales were as follows for the three months ended March 31, 2018 and 2017 : Well Services Revenues (1) Three Months Ended March 31, 2018 2017 (In thousands) Hydraulic fracturing service revenues $ 10,426 $ 5,156 Equipment rental revenues 1,160 471 Total well services revenues $ 11,586 $ 5,627 __________________ (1) Represents well services revenues excluding all intercompany revenues for work performed by the well services business segment for Oasis’s working interests that are eliminated in consolidation and are therefore not included in well services revenues. Contract balances Under the Company's customer contracts, invoicing occurs once the Company's performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company's contracts do not give rise to contract assets or liabilities under ASC 606. Performance obligations The majority of the Company’s sales are short-term in nature with a contract term of one year or less. For those contracts, the Company utilized the practical expedient in ASC 606-10-50-14 that exempts the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. For the Company’s product sales that have a contract term greater than one year, the Company utilized the practical expedient in ASC 606-10-50-14(A) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these sales contracts, each unit of product generally represents a separate performance obligation; therefore future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Under the midstream services contracts, each unit of service represents a separate performance obligation and therefore performance obligations in respect of future services are wholly unsatisfied.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventory	Inventory Crude oil inventory includes oil in tanks. Equipment and materials consist primarily of proppant, chemicals, tubular goods, well equipment to be used in future drilling or repair operations and well fracturing equipment. Crude oil inventory and equipment and materials are included in inventory on the Company’s Condensed Consolidated Balance Sheets. The minimum volume of product in a pipeline system that enables the system to operate is known as linefill and is generally not available to be withdrawn from the pipeline system until the expiration of the transportation contract. The Company owns oil linefill in third-party pipelines, which is included in long-term inventory on the Company’s Condensed Consolidated Balance Sheets. Inventory , including long-term inventory, is stated at the lower of cost and net realizable value with cost determined on an average cost method. T he Company assesses the carrying value of inventory and uses estimates and judgment when making any adjustments necessary to reduce the carrying value to net realizable value. Among the uncertainties that impact the Company’s estimates are the applicable quality and location differentials to include in the Company’s net realizable value analysis. Additionally, the Company estimates the upcoming liquidation timing of the inventory. Changes in assumptions made as to the timing of a sale can materially impact net realizable value. Total inventory consists of the following: March 31, 2018 December 31, 2017 (In thousands) Inventory Crude oil inventory $ 10,390 $ 10,427 Equipment and materials 12,649 8,940 Total inventory $ 23,039 $ 19,367 Long-term inventory Linefill in third-party pipelines $ 12,506 $ 12,200 Long-term inventory $ 12,506 $ 12,200 Total $ 35,545 $ 31,567

Accounts Receivable, Net

Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net The following table sets forth the Company’s accounts receivable, net: March 31, 2018 December 31, 2017 (In thousands) Accounts receivable, net Trade accounts $ 235,480 $ 233,660 Joint interest accounts 91,817 73,588 Other accounts 45,254 57,905 Total 372,551 365,153 Allowance for doubtful accounts (1,573 ) (1,573 ) Total accounts receivable, net $ 370,978 $ 363,580

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In accordance with the FASB’s authoritative guidance on fair value measurements, the Company’s financial assets and liabilities are measured at fair value on a recurring basis. The Company’s financial instruments, including certain cash and cash equivalents, accounts receivable, accounts payable and other payables, are carried at cost, which approximates their respective fair market values due to their short-term maturities. The Company recognizes its non-financial assets and liabilities, such as asset retirement obligations (“ARO”) and proved oil and natural gas properties upon impairment, at fair value on a non-recurring basis. As defined in the authoritative guidance, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). To estimate fair value, the Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable. The authoritative guidance establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (“Level 1” measurements) and the lowest priority to unobservable inputs (“Level 3” measurements). The three levels of the fair value hierarchy are as follows: Level 1 — Unadjusted quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 — Pricing inputs, other than unadjusted quoted prices in active markets included in Level 1, are either directly or indirectly observable as of the reporting date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument and can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Level 3 — Pricing inputs are generally less observable from objective sources, requiring internally developed valuation methodologies that result in management’s best estimate of fair value. Financial Assets and Liabilities Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The following tables set forth by level, within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Fair value at March 31, 2018 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds $ 142 $ — $ — $ 142 Total assets $ 142 $ — $ — $ 142 Liabilities: Commodity derivative instruments (see Note 7) $ — $ 169,356 $ — $ 169,356 Total liabilities $ — $ 169,356 $ — $ 169,356 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds $ 142 $ — $ — $ 142 Commodity derivative instruments (see Note 7) — 353 — 353 Total assets $ 142 $ 353 $ — $ 495 Liabilities: Commodity derivative instruments (see Note 7) $ — $ 135,567 $ — $ 135,567 Total liabilities $ — $ 135,567 $ — $ 135,567 The Level 1 instruments presented in the tables above consist of money market funds included in cash and cash equivalents on the Company’s Condensed Consolidated Balance Sheets at March 31, 2018 and December 31, 2017 . The Company’s money market funds represent cash equivalents backed by the assets of high-quality major banks and financial institutions. The Company identifies the money market funds as Level 1 instruments because the money market funds have daily liquidity, quoted prices for the underlying investments can be obtained, and there are active markets for the underlying investments. The Level 2 instruments presented in the tables above consist of commodity derivative instruments, which include oil and natural gas swaps and collars. The fair values of the Company’s commodity derivative instruments are based upon a third-party preparer’s calculation using mark-to-market valuation reports provided by the Company’s counterparties for monthly settlement purposes to determine the valuation of its derivative instruments. The Company has the third-party preparer evaluate other readily available market prices for its derivative contracts, as there is an active market for these contracts. The third-party preparer performs its independent valuation using a moment matching method similar to Turnbull-Wakeman for Asian options. The significant inputs used are crude oil prices, volatility, skew, discount rate and the contract terms of the derivative instruments. The Company compares the third-party preparer’s valuation to counterparty valuation statements, investigating any significant differences, and analyzes monthly valuation changes in relation to movements in crude oil and natural gas forward price curves. The determination of the fair value for derivative instruments also incorporates a credit adjustment for non-performance risk, as required by GAAP. The Company calculates the credit adjustment for derivatives in a net asset position using current credit default swap values for each counterparty. The credit adjustment for derivatives in a net liability position is based on the Company’s market credit spread. Based on these calculations, the Company recorded an adjustment to reduce the fair value of its net derivative liability by $3.1 million at March 31, 2018 and by $2.8 million at December 31, 2017 . There were no transfers between fair value levels during the three months ended March 31, 2018 and December 31, 2017 .

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company utilizes derivative financial instruments to manage risks related to changes in oil and natural gas prices. The Company’s crude oil and natural gas contracts will settle monthly based on the average NYMEX West Texas Intermediate crude oil index price (“WTI”) and the average NYMEX Henry Hub natural gas index price (“Henry Hub”), respectively. At March 31, 2018 , the Company utilized swaps and two-way and three-way costless collar options to reduce the volatility of oil and natural gas prices on a significant portion of its future expected oil and natural gas production. A swap is a sold call and a purchased put established at the same price (both ceiling and floor), which the Company will receive for the volumes under contract. A two-way collar is a combination of options: a sold call and a purchased put. The purchased put establishes a minimum price (floor) and the sold call establishes a maximum price (ceiling) the Company will receive for the volumes under contract. A three-way collar is a combination of options: a sold call, a purchased put and a sold put. The purchased put establishes a minimum price (floor), unless the market price falls below the sold put (sub-floor), at which point the minimum price would be the NYMEX index price plus the difference between the purchased put and the sold put strike price. The sold call establishes a maximum price (ceiling) the Company will receive for the volumes under contract. All derivative instruments are recorded on the Company’s Condensed Consolidated Balance Sheets as either assets or liabilities measured at fair value (see Note 6 – Fair Value Measurements). The Company has not designated any derivative instruments as hedges for accounting purposes and does not enter into such instruments for speculative trading purposes. If a derivative does not qualify as a hedge or is not designated as a hedge, the changes in fair value are recognized in the other income (expense) section of the Company’s Condensed Consolidated Statements of Operations as a net gain or loss on derivative instruments. The Company’s cash flow is only impacted when the actual settlements under the derivative contracts result in making a payment to or receiving a payment from the counterparty. These cash settlements represent the cumulative gains and losses on the Company’s derivative instruments and do not include a recovery of costs that were paid to acquire or modify the derivative instruments that were settled. Cash settlements are reflected as investing activities in the Company’s Condensed Consolidated Statements of Cash Flows. At March 31, 2018 , the Company had the following outstanding commodity derivative instruments: Commodity Settlement Derivative Volumes Weighted Average Prices Fair Value Swap Sub-Floor Floor Ceiling (In thousands) Crude oil 2018 Swaps 11,029,000 Bbl $ 51.92 $ (125,062 ) Crude oil 2018 Two-way collar 825,000 Bbl $ 48.67 $ 53.07 (8,649 ) Crude oil 2019 Swaps 5,489,000 Bbl $ 53.05 (32,612 ) Crude oil 2019 Two-way collar 93,000 Bbl $ 48.67 $ 53.07 (812 ) Crude oil 2019 Three-way collar 2,004,000 Bbl $ 40.00 $ 50.00 $ 65.99 (2,217 ) Crude oil 2020 Swaps 403,000 Bbl $ 53.47 (1,261 ) Crude oil 2020 Three-way collar 186,000 Bbl $ 40.00 $ 50.00 $ 65.99 (113 ) Natural gas 2018 Swaps 6,325,000 MMbtu $ 3.05 1,369 $ (169,357 ) In April and May 2018, the Company entered into new swaps and two-way and three-way costless collar options for crude oil and natural gas with weighted average floor prices of $56.79 per barrel and $2.93 per MMBtu, respectively. The commodity contracts included total notional amounts of 826,000 barrels, 1,641,000 barrels and 124,000 barrels which settle in 2018 , 2019 and 2020 , respectively, based on WTI and 1,104,000 MMBtu and 540,000 MMBtu which settle in 2018 and 2019 , respectively, based on Henry Hub. These derivative instruments do not qualify for and were not designated as hedging instruments for accounting purposes. The following table summarizes the location and amounts of gains and losses from the Company’s commodity derivative instruments recorded in the Company’s Condensed Consolidated Statements of Operations for the periods presented: Three Months Ended March 31, Statement of Operations Location 2018 2017 (In thousands) Net gain (loss) on derivative instruments $ (71,116 ) $ 56,075 In accordance with the FASB’s authoritative guidance on disclosures about offsetting assets and liabilities, the Company is required to disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting agreement. The Company’s derivative instruments are presented as assets and liabilities on a net basis by counterparty, as all counterparty contracts provide for net settlement. No margin or collateral balances are deposited with counterparties, and as such, gross amounts are offset to determine the net amounts presented in the Company’s Condensed Consolidated Balance Sheets. The following table summarizes the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheets: March 31, 2018 Commodity Balance Sheet Location Gross Recognized Liabilities Gross Amount Offset Net Recognized Fair Value Liabilities (In thousands) Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 149,657 $ — $ 149,657 Commodity contracts Derivative instruments — non-current liabilities 25,214 (5,515 ) 19,699 Total derivatives liabilities $ 174,871 $ (5,515 ) $ 169,356 December 31, 2017 Commodity Balance Sheet Location Gross Recognized Assets/Liabilities Gross Amount Offset Net Recognized Fair Value Assets/Liabilities (In thousands) Derivatives assets: Commodity contracts Derivative instruments — current assets $ 344 $ — $ 344 Commodity contracts Derivative instruments — non-current assets 9 — 9 Total derivatives assets $ 353 $ — $ 353 Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 117,629 $ (1,913 ) $ 115,716 Commodity contracts Derivative instruments — non-current liabilities 20,035 (184 ) 19,851 Total derivatives liabilities $ 137,664 $ (2,097 ) $ 135,567

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The following table sets forth the Company’s property, plant and equipment: March 31, 2018 December 31, 2017 (In thousands) Proved oil and gas properties (1) $ 7,484,783 $ 7,058,782 Less: Accumulated depreciation, depletion, amortization and impairment (2,538,739 ) (2,395,153 ) Proved oil and gas properties, net 4,946,044 4,663,629 Unproved oil and gas properties 1,426,313 780,173 Other property and equipment 963,871 868,746 Less: Accumulated depreciation (149,622 ) (139,062 ) Other property and equipment, net 814,249 729,684 Total property, plant and equipment, net $ 7,186,606 $ 6,173,486 __________________ (1) Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $42.7 million and $39.9 million at March 31, 2018 and December 31, 2017 , respectively.

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisition	Acquisition Permian Basin Acquisition . On February 14, 2018 , the Company acquired from Forge Energy, LLC (“ Forge Energy ”) approximately 22,000 net acres in the Delaware Basin (the “ Permian Basin Acquisition ”) for aggregate consideration consisting of approximately $549.8 million in cash and 46,000,000 shares of the Company’s common stock, subject to customary post-closing adjustments (collectively, the “Purchase Price”). In connection with the closing of the Permian Basin Acquisition , the Company and Forge Energy entered into a Registration Rights Agreement that granted the equity holders of Forge Energy certain customary registration rights for the stock portion of the Purchase Price. The Company funded the cash portion of the Purchase Price with borrowings under a senior secured revolving line of credit among OPNA, as Borrower, Wells Fargo Bank, N.A., as administrative agent and the lenders party thereto (the “ Oasis Credit Facility ”), and proceeds from the Company’s December 2017 issuance of its common stock. The Permian Basin Acquisition represents the Company’s initial entry into the Delaware Basin. The assets underlying the Permian Basin Acquisition are primarily located in the Bone Spring and Wolfcamp formations of the Delaware sub-basin, across Ward, Winkler, Loving and Reeves Counties, Texas. The Permian Basin Acquisition qualified as a business combination. As such, the Company estimated the fair value of the assets acquired and liabilities assumed as of the February 14, 2018 acquisition date. The fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Fair value measurements also utilize assumptions of market participants. The Company used a discounted cash flow model and made market assumptions as to future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount of future development and operating costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates. These assumptions represent Level 3 inputs, as further discussed under Note 6 — Fair Value Measurements . The Company recorded the assets acquired and liabilities assumed in the Permian Basin Acquisition at their estimated fair value of $921.0 million , which the Company considers to be representative of the price paid by a typical market participant. This measurement resulted in no goodwill or bargain purchase being recogni zed. The Permian Basin Acquisition is considered a taxable transaction; therefore, no deferred tax amounts were recognized at the acquisition date as the tax basis of the assets acquired and liabilities assumed were also recorded at fair value. The following table summarizes the consideration paid for the Company’s acquisition and the fair value of the assets acquired and liabilities assumed as of the acquisition date. The purchase price allocation is preliminary and subject to adjustment, as the final closing statement will be completed in the third quarter of 2018. At February 14, 2018 (In thousands) Consideration paid to Forge Energy: Cash $ 549,770 Common stock: 46,000,000 shares issued 371,220 $ 920,990 Recognized amounts of identifiable assets acquired and liabilities assumed: Proved developed properties $ 110,735 Proved undeveloped properties 167,170 Unproved lease acquisition costs 644,040 Inventory 293 Intangible assets 1,000 Asset retirement obligations (2,248 ) $ 920,990 The results of operations for the Permian Basin Acquisition have been included in the Company’s condensed consolidated financial statements since the February 14, 2018 closing date, including $11.5 million of total revenue and $3.4 million of operating income for the three months ended March 31, 2018 . The Company also recorded a $1.0 million finite-lived intangible asset on the Company’s Condensed Consolidated Balance Sheet for a non-compete agreement with a one -year life. Intangible assets are amortized on a straight-line basis over the useful life, and the Company includes the amortization in depreciation, depletion and amortization expenses on the Company’s Condensed Consolidated Statements of Operations. For the three months ended March 31, 2018 , amortization expense recognized for this non-compete agreement was approximately $42,000 . Summarized below are the consolidated results of operations for the three months ended March 31, 2018 , on an unaudited pro forma basis, as if the acquisition and related financing had occurred on January 1, 2017 . The unaudited pro forma financial information was derived from the historical consolidated statements of operations of the Company and the statement of revenues and direct operating expenses for the Permian Basin Acquisition properties, which were derived from the historical accounting records of Forge Energy . The unaudited pro forma financial information does not purport to be indicative of results of operations that would have occurred had the acquisition and related financing occurred on the basis assumed above, nor is such information indicative of the Company’s expected future results of operations. Three Months Ended March 31, 2018 2017 (In thousands) Unaudited Revenues $ 426,733 $ 290,082 Net income attributable to Oasis 5,168 27,922 Net income attributable to Oasis per share: Basic $ 0.02 $ 0.10 Diluted 0.02 0.10

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consists of the following: March 31, 2018 December 31, 2017 (In thousands) Oasis Credit Facility $ 626,000 $ 70,000 OMP Credit Facility 117,000 78,000 Senior unsecured notes 7.25% senior unsecured notes due February 1, 2019 54,275 54,275 6.5% senior unsecured notes due November 1, 2021 395,501 395,501 6.875% senior unsecured notes due March 15, 2022 937,080 937,080 6.875% senior unsecured notes due January 15, 2023 366,094 366,094 2.625% senior unsecured convertible notes due September 15, 2023 300,000 300,000 Total principal of senior unsecured notes 2,052,950 2,052,950 Less: unamortized deferred financing costs on senior unsecured notes (21,646 ) (22,956 ) Less: unamortized debt discount on senior unsecured convertible notes (77,771 ) (80,388 ) Total long-term debt $ 2,696,533 $ 2,097,606 The carrying amount of the Company’s long-term debt reported in the Condensed Consolidated Balance Sheet at March 31, 2018 was $2,696.5 million , which included $2,053.0 million of senior unsecured notes, reductions for the unamortized debt discount related to the equity component of the senior unsecured convertible notes and the unamortized deferred financing costs on the senior unsecured notes of $77.8 million and $21.6 million , respectively, $626.0 million of borrowings under the Oasis Credit Facility and $117.0 million of borrowings under a $200.0 million senior secured revolving credit facility among OMP , as parent, OMP Operating LLC, a subsidiary of OMP , as borrower, Wells Fargo Bank, N.A., as administrative agent and the lenders party thereto (the “ OMP Credit Facility ,” and, together with the Oasis Credit Facility , the “ Revolving Credit Facilities ”). The Revolving Credit Facilities are recorded at values that approximate fair value since their variable interest rates are tied to current market rates. The fair value of the Company’s senior unsecured notes, which are publicly traded and therefore categorized as Level 1 liabilities, was $2,086.8 million at March 31, 2018 . On April 30, 2018 , the Company launched and priced a private placement offering of $400.0 million in aggregate principal amount of 6.25% senior unsecured notes due 2026. The offering is expected to close on May 14, 2018 , and the Company intends to use the net proceeds from the offering to fund tender offers (the “Tender Offers”) to purchase for cash, subject to certain conditions, up to $400.0 million in aggregate purchase price, excluding accrued and unpaid interest, of its outstanding 7.25% senior notes due 2019, 6.5% senior notes due 2021, 6.875% senior notes due 2022 and 6.875% senior notes due 2023 (collectively, the “Tender Notes”). The Tender Offers are being made pursuant to an Offer to Purchase and Consent Solicitation Statement dated April 30, 2018 . To the extent that the Tender Offers are not completed or the net proceeds from the offering exceed the amount needed to fund the Tender Offers, the Company will use the remaining net proceeds from the offering for general corporate purposes, which may include redemptions or repurchases of the Tender Notes, reducing borrowings under the Oasis Credit Facility , repaying other indebtedness, working capital or funding capital expenditures and acquisitions. The Company’s 7.25% senior notes due February 1, 2019 are excluded from current liabilities in its Condensed Consolidated Balance Sheet at March 31, 2018 because the Company has the intent and ability to refinance this obligation on a long-term basis as demonstrated by the private placement offering and Tender Offers. Senior secured revolving line of credit. The Company has the Oasis Credit Facility with an overall senior secured line of credit of $2,500.0 million as of March 31, 2018 , which has a maturity date of the earlier of (i) April 13, 2020, and (ii) 90 days prior to the maturity date of the 7.25% senior unsecured notes due February 1, 2019 (the “2019 Notes”), of which $54.3 million is outstanding, to the extent such 2019 Notes are not retired or refinanced to have a maturity date at least 90 days after April 13, 2020. The Oasis Credit Facility is restricted to a borrowing base, which is reserve-based and subject to semi-annual redeterminations on April 1 and October 1 of each year. On February 26, 2018 , the Company entered into an amendment to the Oasis Credit Facility , resulting in the aggregate elected commitment being increased from $1,150.0 million to $1,350.0 million and two new lenders being added to the bank group. On April 19, 2018 , the lenders under the Oasis Credit Facility completed their regular semi-annual redetermination of the borrowing base scheduled for April 1, 2018 , resulting in the Company entering into the Twelfth Amendment to the Second Amended and Restated Credit Agreement to the Oasis Credit Facility , which (i) reaffirmed the borrowing base and the aggregate elected commitment at $1,600.0 million and $1,350.0 million , respectively, (ii) removed the legacy anti-cash hoarding provisions, (iii) reduced the coverage threshold with respect to mortgaged properties and (iv) amended the asset sale covenant to give the Company additional flexibility to trade oil and gas properties. In addition, in connection with such amendment, OP Permian became a guarantor under the Oasis Credit Facility . The next redetermination of the Oasis Credit Facility ’s borrowing base is scheduled for October 1, 2018 . At March 31, 2018 , the Company had $626.0 million of London Interbank Offered Rate (“LIBOR”) loans at a weighted average interest rate of 3.6% and $14.0 million of outstanding letters of credit issued under the Oasis Credit Facility , resulting in an unused borrowing base committed capacity of $710.0 million . On a quarterly basis, the Company also pays a commitment fee that can range from 0.375% to 0.500% on the average amount of borrowing base capacity not utilized during the quarter and fees calculated on the average amount of letter of credit balances outstanding during the quarter. The Company was in compliance with the financial covenants of the Oasis Credit Facility as of March 31, 2018 . OMP Operating LLC revolving line of credit. Through its ownership of OMP , the Company has the OMP Credit Facility with a revolving line of credit of $200.0 million , which has a maturity date of September 25, 2022. The OMP Credit Facility is available to fund working capital and to finance acquisitions and other capital expenditures of OMP. The OMP Credit Facility includes a letter of credit sublimit of $10.0 million and a swingline loans sublimit of $10.0 million . The borrowing capacity on the OMP Credit Facility may be increased up to $400.0 million , subject to certain conditions. Borrowings under the OMP Credit Facility bear interest at a rate per annum equal to the applicable margin (as described below) plus (i) with respect to Eurodollar Loans, the Adjusted LIBO Rate (as defined in the OMP Credit Agreement) or (ii) with respect to ABR Loans, the greatest of (A) the Prime Rate in effect on such day, (B) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1.00% or (C) the Adjusted LIBO Rate for a one-month interest period on such day plus 1.00% (each as defined in the OMP Credit Agreement). The applicable margin for borrowings under the OMP Credit Facility varies from (a) in the case of Eurodollar Loans, 1.75% to 2.75% , and (b) in the case of ABR Loans or swingline loans, 0.75% to 1.75% . The unused portion of the OMP Credit Facility is subject to a commitment fee ranging from 0.375% to 0.500% . The OMP Credit Facility includes certain financial covenants as of the end of each fiscal quarter, including a (1) consolidated leverage ratio, (2) consolidated secured leverage ratio and (3) consolidated interest coverage ratio (each covenant as described in the OMP Credit Facility ). OMP Operating LLC was in compliance with the financial covenants of the OMP Credit Facility as of March 31, 2018 . All obligations of OMP Operating LLC, as the borrower under the OMP Credit Facility , are unconditionally guaranteed on a joint and several basis by OMP, OMP Operating LLC and Bighorn DevCo LLC. At March 31, 2018 , the Company had $117.0 million of borrowings outstanding under the OMP Credit Facility . As of March 31, 2018 , the weighted average interest rate on borrowings under the OMP Credit Facility was 3.6% . Senior unsecured notes. At March 31, 2018 , the Company had $1,753.0 million principal amount of senior unsecured notes outstanding with maturities ranging from February 2019 to January 2023 and coupons ranging from 6.50% to 7.25% (the “Senior Notes”). Prior to certain dates, the Company has the option to redeem some or all of the Senior Notes for cash at certain redemption prices equal to a certain percentage of their principal amount plus an applicable make-whole premium and accrued and unpaid interest to the redemption date. The 2019 Notes are currently redeemable for cash at a redemption price equal to par plus accrued and unpaid interest to the redemption date. Senior unsecured convertible notes. At March 31, 2018 , the Company had $300.0 million of 2.625% senior unsecured convertible notes due September 2023 (the “Senior Convertible Notes”). The Company has the option to settle conversions of these notes with cash, shares of common stock or a combination of cash and common stock at its election. The Company’s intent is to settle the principal amount of the Senior Convertible Notes in cash upon conversion. Prior to March 15, 2023, the Senior Convertible Notes will be convertible only under the following circumstances: (i) during any calendar quarter (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five business day period after any five consecutive trading day period (the “Measurement Period”) in which the trading price per $1,000 principal amount of the Senior Convertible Notes for each trading day of the Measurement Period is less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; or (iii) upon the occurrence of specified corporate events, including certain distributions or a fundamental change. On or after March 15, 2023, the Senior Convertible Notes will be convertible at any time until the second scheduled trading day immediately preceding their September 15, 2023 maturity date. The Senior Convertible Notes will be convertible at an initial conversion rate of 76.3650 shares of the Company’s common stock per $1,000 principal amount of the Senior Convertible Notes, which is equivalent to an initial conversion price of approximately $13.10 . The conversion rate will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date or a notice of redemption, the Company will increase the conversion rate for a holder who elects to convert its Senior Convertible Notes in connection with such corporate event or redemption in certain circumstances. As of March 31, 2018 , none of the contingent conditions allowing holders of the Senior Convertible Notes to convert these notes had been met. Upon issuance, the Company separately accounted for the liability and equity components of the Senior Convertible Notes in accordance with Accounting Standards Codification 470-20. The liability component was recorded at the estimated fair value of a similar debt instrument without the conversion feature. The difference between the principal amount of the Senior Convertible Notes and the estimated fair value of the liability component was recorded as a debt discount and will be amortized to interest expense over the term of the notes using the effective interest method, with an effective interest rate of 8.97% per annum. The fair value of the Senior Convertible Notes as of the issuance date was estimated at $206.8 million , resulting in a debt discount at inception of $93.2 million . The equity component, representing the value of the conversion option, was computed by deducting the fair value of the liability component from the initial proceeds of the Senior Convertible Notes issuance. This equity component was recorded, net of deferred taxes and issuance costs, in additional paid-in capital and will not be remeasured as long as it continues to meet the conditions for equity classification. Interest on the Senior Notes and the Senior Convertible Notes (collectively, the “Notes”) is payable semi-annually in arrears. The Notes are guaranteed on a senior unsecured basis by the Company, along with its material subsidiaries (the “Guarantors”), which are 100% owned by the Company. These guarantees are full and unconditional and joint and several among the Guarantors, subject to certain customary release provisions. The indentures governing the Notes contain customary events of default as well as covenants that place restrictions on the Company and certain of its subsidiaries.

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The following table reflects the changes in the Company’s ARO during the three months ended March 31, 2018 : (In thousands) Balance at December 31, 2017 $ 48,799 Liabilities incurred during period 2,703 Liabilities settled during period (1 ) Accretion expense during period (1) 665 Revisions to estimates 84 Balance at March 31, 2018 $ 52,250 ___________________ (1) Included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. At March 31, 2018 , the current portion of the total ARO balance was approximately $0.3 million and was included in accrued liabilities on the Company’s Condensed Consolidated Balance Sheet.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three months ended March 31, 2018 was 18.2% as compared to an effective tax rate of 40.2% for the same period in 2017. The effective tax rate for the three months ended March 31, 2018 was lower than the statutory federal rate of 21% primarily due to (i) the tax impact of a decrease in the Company’s deferred state tax rate as a result of the Permian Basin Acquisition and (ii) the portion of OMP’s earnings attributable to the non-controlling public limited partners, which are not taxable to the Company . These decreases are partially offset by (i) state income taxes, (ii) an increase in the valuation allowance recorded against the Company’s Montana net operating loss carryforwards and (iii) a permanent difference related to equity-based compensation shortfalls. The effective tax rate for the three months ended March 31, 2017 was higher than the statutory federal rate of 35% primarily due to state taxes and a permanent difference related to nondeductible executive compensation. These increases were partially offset by a permanent difference related to equity-based compensation windfalls. Valuation allowance. The Company had valuation allowances of $3.3 million and $1.2 million as of March 31, 2018 and December 31, 2017 , respectively, because the Company has concluded it is more likely than not that it will be unable to utilize certain state net operating loss carryforwards and charitable contribution carryforwards. As of each reporting date, the Company’s management considers new evidence, both positive and negative, which could impact management’s view with regard to future realization of deferred tax assets. During the three months ended March 31, 2018 , the valuation allowance was increased by $2.2 million , primarily against the Company’s Montana net operating loss carryforwards, as a result of the Permian Basin Acquisition and the corresponding shift of projected future taxable income into other states. Tax Cuts and Jobs Act. On December 22, 2017, the U.S. government enacted the Tax Act, which made broad and complex changes to the U.S. tax code. Due to the complexities involved in the accounting for the enactment of the new law, the SEC issued SAB 118, which provides guidance on the accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date to complete the accounting under ASC 740, "Income Taxes." In accordance with SAB 118, the Company was able to make reasonable estimates on certain effects of the Tax Act in the financial statements as of December 31, 2017. There have been no material changes to the provisional estimate as disclosed in the Company’s 2017 Form 10-K. The Company will continue to analyze the impact of the new law and additional impacts will be recorded as they are identified during the measurement period provided for in SAB 118.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	Equity-Based Compensation Restricted stock awa rds. The Company has granted restricted stock awards to employees and directors under its Amended and Restated 2010 Long Term Incentive Plan, the majority of which vest over a three -year period. The fair value of restricted stock awards is based on the closing sales price of the Company’s common stock on the date of grant. Compensation expense is recognized ratably over the requisite service period. During the three months ended March 31, 2018 , employees and non-employee directors of the Company were granted restricted stock awards equal to 2,865,780 shares of common stock with a $9.58 weighted average grant date per share value. Equity-based compensation expense recorded for restricted stock awards for the three months ended March 31, 2018 was $4.8 million and $5.4 million for the three months ended March 31, 2017 . Equity-based compensation expense is included in general and administrative expenses on the Company’s Condensed Consolidated Statements of Operations. Performance share units. The Company has granted performance share units (“PSUs”) to officers of the Company under its Amended and Restated 2010 Long Term Incentive Plan. The PSUs are awards of restricted stock units, and each PSU that is earned represents the right to receive one share of the Company’s common stock. The Company accounts for PSUs as equity awards pursuant to the FASB’s authoritative guidance for share-based payments. The number of PSUs to be earned is subject to a market condition, which is based on a comparison of the total shareholder return (“TSR”) achieved with respect to shares of the Company’s common stock against the TSR achieved by a defined peer group at the end of the performance periods. Depending on the Company’s TSR performance relative to the defined peer group, award recipients will earn between 0% and 200% of the initial PSUs granted. All compensation expense related to the PSUs will be recognized if the requisite performance period is fulfilled, even if the market condition is not achieved. The aggregate grant date fair value of the market-based awards was determined using a Monte Carlo simulation model. The Monte Carlo simulation model uses assumptions regarding random projections and must be repeated numerous times to achieve a probabilistic assessment. The key valuation assumptions for the Monte Carlo model are the forecast period, initial value, stock price on the date of grant, risk-free interest rate, volatility and correlation coefficients. The risk-free interest rates are the U.S. Treasury bond rates on the date of grant that correspond to each performance period. The initial value is the average of the volume weighted average prices for the 30 trading days prior to the start of the performance cycle for the Company and each of its peers. Volatility was calculated from the daily historical returns of stock prices over a historical period for the Company and each of its peers. The correlation coefficients are measures of the strength of the linear relationship between and amongst the Company and its peers estimated based on historical stock price data. The following assumptions were used for the Monte Carlo model to determine the grant date fair value and associated equity-based compensation expense of the PSUs granted during the three months ended March 31, 2018 : Risk-free interest rate 2.08% - 2.31% Oasis volatility 72.88 % Oasis initial value $8.82 Oasis stock price on date of grant $9.27 During the three months ended March 31, 2018 , officers of the Company were granted 854,400 PSUs with a $12.71 weighted average grant date per share value. Equity-based compensation expense recorded for PSUs for the three months ended March 31, 2018 was $1.9 million and $1.3 million for the three months ended March 31, 2017 . Equity-based compensation expense is included in general and administrative expenses on the Company’s Condensed Consolidated Statements of Operations. OMP phantom unit awards . In September 2017, OMP GP adopted the Oasis Midstream Partners LP 2017 Long Term Incentive Plan (“ OMP LTIP ”). The OMP LTIP provides for the grant, from time to time at the discretion of the board of directors of OMP GP , of options, unit appreciation rights, restricted units, phantom units, unit awards, substitute awards, other unit-based awards or cash awards and includes any tandem distribution equivalent rights with respect to certain awards. Each award of phantom unit vests in equal amounts each year over a three -year period, and compensation expense will be recognized over the requisite service period. The Phantom Units are accounted for as liability-classified awards since the awards will settle in cash, and equity-based compensation cost is accounted for under the fair value method in accordance with GAAP. Under the fair value method for liability-classified awards, compensation cost is remeasured each reporting period at fair value based upon the closing price of a publicly traded common unit. The Company will reimburse OMP for the cash settlement amount of these awards, which is included in general and administrative expenses on the Company’s Condensed Consolidated Statements of Operations. Equity-based compensation expense relating to the OMP phantom unit awards for the three months ended March 31, 2018 was $0.1 million . The Company did not record any equity-based compensation related to the OMP phantom unit awards for the three months ended March 31, 2017 because the awards were granted in the fourth quarter of 2017. OMP restricted unit awards. During the three months ended March 31, 2018 , certain directors of OMP were granted 12,200 restricted unit awards which vest over a one -year period with a weighted average grant date fair value of $16.50 per common unit. These a wards are accounted for as equity-classified awards since the awards will settle in common units upon vesting. Equity-based compensation cost is accounted for under the fair value method in accordance with GAAP. Under the fair value method for equity-classified awards, compensation cost is measured at the grant date based on the fair value of the award and is recognized over the vesting period. Compensation cost associated with these awards was approximately $0.1 million for the three months ended March 31, 2018 and is included in general and administrative expenses on the Company’s Condensed Consolidated Statements of Operations.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share 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 potential dilutive impact of unvested restricted stock awards and contingently issuable shares related to PSUs and senior convertible notes during the periods presented, unless their effect is anti-dilutive. There are no adjustments made to the income (loss) attributable to Oasis available to common stockholders in the calculation of diluted earnings (loss) per share. The following is a calculation of the basic and diluted weighted average shares outstanding for the three months ended March 31, 2018 and 2017 : Three Months Ended March 31, 2018 2017 (In thousands) Basic weighted average common shares outstanding 290,105 233,068 Dilutive effect of restricted stock awards and PSUs 1,633 3,238 Dilutive effect of senior convertible notes (1) — 1,594 Diluted weighted average common shares outstanding 291,738 237,900 __________________ (1) No contingently issuable shares related to senior convertible notes were included in computing earnings (loss) per share for the three months ended March 31, 2018 because the effect was anti-dilutive. For the three months ended March 31, 2018 and 2017 , the Company excluded these unvested stock awards from the diluted earnings (loss) per share calculation because the effects were anti-dilutive based on the treasury stock method. The following is a calculation of weighted average common shares excluded from diluted earnings (loss) per share due to the anti-dilutive effect: Three Months Ended March 31, 2018 2017 (In thousands) Restricted stock awards and PSUs 5,281 2,884 The Company issued its Senior Convertible Notes in September 2016 (see Note 10 – Long-Term Debt). The Company has the option to settle conversions of its Senior Convertible Notes with cash, shares of common stock or a combination of cash and common stock at its election. The Company’s intent is to settle the principal amount of the Senior Convertible Notes in cash upon conversion. As a result, only the amount by which the conversion value exceeds the aggregate principal amount of the notes (conversion spread) is considered in the diluted earnings per share computation under the treasury stock method. As of March 31, 2018 , the conversion value did not exceed the principal amount of the notes, and accordingly, there was no impact to diluted earnings per share for the three months ended March 31, 2018 .

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company’s exploration and production segment is engaged in the acquisition and development of oil and natural gas properties. Revenues for the exploration and production segment are derived from the sale of oil and natural gas production. The Company’s midstream services business segment ( OMS ) performs produced and flowback water gathering and disposal services, fresh water services, natural gas gathering and processing and crude oil gathering and transportation and other midstream services for the Company’s oil and natural gas wells operated by OPNA and other third-party operators. Revenues for the midstream segment are primarily derived from produced and flowback water pipeline transport, produced and flowback water disposal, fresh water sales, natural gas gathering and processing and crude oil gathering, blending, stabilization and transportation. The Company’s well services business segment (OWS) performs completion services for the Company’s oil and natural gas wells operated by OPNA. Revenues for the well services segment are derived from providing well services, product sales and equipment rentals. The revenues and expenses related to work performed by OMS and OWS for OPNA’s working interests are eliminated in consolidation, and only the revenues and expenses related to non-affiliated working interest owners are included in the Company’s Condensed Consolidated Statements of Operations. These segments represent the Company’s three operating units, each offering different products and services. The Company’s corporate activities have been allocated to the supported business segments accordingly. Management evaluates the performance of the Company’s business segments based on operating income, which is defined as segment operating revenues less operating expenses, including DD&A. The following table summarizes financial information for the Company’s three business segments for the periods presented: Exploration and Production Midstream Services Well Services Eliminations Consolidated (In thousands) Three months ended March 31, 2018: Revenues from non-affiliates $ 381,708 $ 27,922 $ 11,586 $ — $ 421,216 Inter-segment revenues — 36,640 33,302 (69,942 ) — Total revenues 381,708 64,562 44,888 (69,942 ) 421,216 Operating income 79,962 32,237 8,148 (7,362 ) 112,985 Other expense (108,146 ) (258 ) (41 ) — (108,445 ) Income (loss) before income taxes including non-controlling interests $ (28,184 ) $ 31,979 $ 8,107 $ (7,362 ) $ 4,540 Three months ended March 31, 2017: Revenues from non-affiliates $ 264,883 $ 14,606 $ 5,627 $ — $ 285,116 Inter-segment revenues — 23,035 15,352 (38,387 ) — Total revenues 264,883 37,641 20,979 (38,387 ) 285,116 Operating income (loss) 968 20,763 (3,592 ) 1,953 20,092 Other income (expense) 19,768 (2 ) 4 — 19,770 Income (loss) before income taxes $ 20,736 $ 20,761 $ (3,588 ) $ 1,953 $ 39,862 At March 31, 2018: Property, plant and equipment, net $ 6,600,397 $ 732,801 $ 47,310 $ (193,902 ) $ 7,186,606 Total assets (1) 6,994,927 752,301 50,605 (158,903 ) 7,638,930 At December 31, 2017: Property, plant and equipment, net $ 5,663,323 $ 649,923 $ 46,779 $ (186,539 ) $ 6,173,486 Total assets (1) 6,050,255 663,614 52,800 (151,539 ) 6,615,130 ___________________ (1) Intercompany receivables (payables) for all segments were reclassified to capital contributions from (distributions to) parent and not included in total assets.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has various contractual obligations in the normal course of its operations. As of March 31, 2018 , there have been no material changes to the Company’s future commitments as disclosed in Note 18 in the Company’s 2017 Annual Report. Litigation. The Company is party to various legal and/or regulatory proceedings from time to time arising in the ordinary course of business. When the Company determines that a loss is probable of occurring and is reasonably estimable, the Company accrues an undiscounted liability for such contingencies based on its best estimate using information available at the time. The Company discloses contingencies where an adverse outcome may be material, or in the judgment of management, the matter should otherwise be disclosed. Mirada litigation. On March 23, 2017, Mirada Energy, LLC, Mirada Wild Basin Holding Company, LLC and Mirada Energy Fund I, LLC (collectively, “Mirada”) filed a lawsuit against Oasis, OPNA and Oasis Midstream Services LLC, seeking monetary damages in excess of $100 million , declaratory relief, attorneys’ fees and costs (Mirada Energy, LLC, et al. v. Oasis Petroleum North America LLC, et al.; in the 334th Judicial District Court of Harris County, Texas; Case Number 2017-19911). Mirada asserts that it is a working interest owner in certain acreage owned and operated by the Company in Wild Basin. Specifically, Mirada asserts that the Company has breached certain agreements by: (1) failing to allow Mirada to participate in the Company’s midstream operations in Wild Basin; (2) refusing to provide Mirada with information that Mirada contends is required under certain agreements and failing to provide information in a timely fashion; (3) failing to consult with Mirada and failing to obtain Mirada’s consent prior to drilling more than one well at a time in Wild Basin; and (4) by overstating the estimated costs of proposed well operations in Wild Basin. Mirada seeks a declaratory judgment that the Company be removed as operator in Wild Basin at Mirada’s election and that Mirada be allowed to elect a new operator; certain agreements apply to the Company and Mirada and Wild Basin with respect to this dispute; the Company be required to provide all information within its possession regarding proposed or ongoing operations in Wild Basin; and the Company not be permitted to drill, or propose to drill, more than one well at a time in Wild Basin without obtaining Mirada’s consent. Mirada also seeks a declaratory judgment with respect to the Company’s current midstream operations in Wild Basin. Specifically, Mirada seeks a declaratory judgment that Mirada has a right to participate in the Company’s Wild Basin midstream operations, consisting of produced water disposal, crude oil gathering and gas gathering and processing; that, upon Mirada’s election to participate, Mirada is obligated to pay its proportionate costs of the Company’s midstream operations in Wild Basin; and that Mirada would then be entitled to receive a share of revenues from the midstream operations and would not be charged any amount for its use of these facilities for production from the “Contract Area.” On June 30, 2017, Mirada amended its original petition to add a claim that the Company has breached certain agreements by charging Mirada for midstream services provided by its affiliates and to seek a declaratory judgment that Mirada is entitled to be paid its share of total proceeds from the sale of hydrocarbons received by OPNA or any affiliate of OPNA without deductions for midstream services provided by OPNA or its affiliates. On February 2, 2018 and February 16, 2018, Mirada filed a second and third amended petition, respectively. In these filings, Mirada alleges new legal theories for being entitled to enforce the underlying contracts and added Bighorn DevCo LLC, Bobcat DevCo LLC and Beartooth DevCo LLC as defendants, asserting that these entities were created in bad faith in an effort to avoid contractual obligations owed to Mirada. The Company believes that Mirada’s claims are without merit, that the Company has complied with its obligations under the applicable agreements and that some of Mirada’s claims are grounded in agreements that do not apply to the Company. The Company filed an answer denying all of Mirada’s claims and intends and continues to vigorously defend against Mirada’s claims. Discovery is ongoing, and each of the parties has made a number of procedural filings and motions, and additional filings and motions can be expected over the course of the claim. Trial is currently scheduled for May 2019. However, the Company cannot predict or guarantee the ultimate outcome or resolution of such matter. If such matter were to be determined adversely to the Compa ny’s interests, or if the Company were forced to settle such matter for a significant amount, such resolution or settlement could have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Such an adverse determination could materially impact the Company’s ability to operate its properties in Wild Basin or develop its identified drilling locations in Wild Basin on its current development schedule. A determination that Mirada has a right to participate in t he Company’s midstream operations could materially reduce the interests of the Company in their current assets and future midstream opportunities and related revenues in Wild Basin. In addition, the Company has agreed to indemnify OMP for any losses resulting from this litigation under the omnibus agreement it entered into with OMP at the time of OMP’s initial public offering.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The Notes (see Note 10 – Long-Term Debt ) are guaranteed on a senior unsecured basis by the Guarantors, which are 100% owned by the Company. These guarantees are full and unconditional and joint and several among the Guarantors. Certain of the Company’s operating units, including OMP, which is accounted for on a consolidated basis, do not guarantee the Notes (“Non-Guarantor Subsidiaries”). The following financial information reflects consolidating financial information of the parent company, Oasis Petroleum Inc. (“Issuer”), its Guarantors on a combined basis and the Non-Guarantor Subsidiaries on a combined basis, prepared on the equity basis of accounting. The information is presented in accordance with the requirements of Rule 3-10 under the SEC’s Regulation S-X. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantors operated as independent entities. The Company has not presented separate financial and narrative information for each of the Guarantors because it believes such financial and narrative information would not provide any additional information that would be material in evaluating the sufficiency of the Guarantors. Condensed Consolidating Balance Sheet March 31, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands, except share data) ASSETS Current assets Cash and cash equivalents $ 179 $ 13,508 $ 4,048 $ — $ 17,735 Accounts receivable, net — 370,001 977 — 370,978 Accounts receivable - affiliates 373,954 55,939 57,087 (486,980 ) — Inventory — 23,039 — — 23,039 Prepaid expenses 447 4,760 747 — 5,954 Intangible assets, net — 958 — — 958 Other current assets — 193 — — 193 Total current assets 374,580 468,398 62,859 (486,980 ) 418,857 Property, plant and equipment Oil and gas properties (successful efforts method) — 8,914,811 — (3,715 ) 8,911,096 Other property and equipment — 220,293 743,578 — 963,871 Less: accumulated depreciation, depletion, amortization and impairment — (2,647,665 ) (40,696 ) — (2,688,361 ) Total property, plant and equipment, net — 6,487,439 702,882 (3,715 ) 7,186,606 Investments in and advances to subsidiaries 5,198,126 428,245 — (5,626,371 ) — Deferred income taxes 191,671 — — (191,671 ) — Long-term inventory — 12,506 — — 12,506 Other assets — 19,062 1,899 — 20,961 Total assets $ 5,764,377 $ 7,415,650 $ 767,640 $ (6,308,737 ) $ 7,638,930 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ — $ 15,534 $ 593 $ — $ 16,127 Accounts payable - affiliates 40,406 431,041 15,533 (486,980 ) — Revenues and production taxes payable — 245,198 — — 245,198 Accrued liabilities 284 165,899 67,239 — 233,422 Accrued interest payable 19,872 736 73 — 20,681 Derivative instruments — 149,657 — — 149,657 Advances from joint interest partners — 4,888 — — 4,888 Other current liabilities — 40 — — 40 Total current liabilities 60,562 1,012,993 83,438 (486,980 ) 670,013 Long-term debt 1,953,534 626,000 117,000 — 2,696,534 Deferred income taxes — 498,420 — (191,671 ) 306,749 Asset retirement obligations — 50,624 1,331 — 51,955 Derivative instruments — 19,699 — — 19,699 Other liabilities — 7,822 — — 7,822 Total liabilities 2,014,096 2,215,558 201,769 (678,651 ) 3,752,772 Stockholders’ equity Capital contributions from affiliates — 3,640,084 224,008 (3,864,092 ) — Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding 3,154 — — — 3,154 Treasury stock, at cost: 2,021,805 shares (28,200 ) — — — (28,200 ) Additional paid-in-capital 3,055,003 8,994 — (8,994 ) 3,055,003 Retained earnings 720,324 1,413,388 21,593 (1,436,730 ) 718,575 Oasis share of stockholders’ equity 3,750,281 5,062,466 245,601 (5,309,816 ) 3,748,532 Non-controlling interests — 137,626 320,270 (320,270 ) 137,626 Total stockholders’ equity 3,750,281 5,200,092 565,871 (5,630,086 ) 3,886,158 Total liabilities and stockholders’ equity $ 5,764,377 $ 7,415,650 $ 767,640 $ (6,308,737 ) $ 7,638,930 Condensed Consolidating Balance Sheet December 31, 2017 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands, except share data) ASSETS Current assets Cash and cash equivalents $ 178 $ 15,659 $ 883 $ — $ 16,720 Accounts receivable, net — 362,746 834 — 363,580 Accounts receivable - affiliates 425,668 46,020 85,818 (557,506 ) — Inventory — 19,367 — — 19,367 Prepaid expenses 267 6,586 778 — 7,631 Derivative instruments — 344 — — 344 Other current assets — 193 — — 193 Total current assets 426,113 450,915 88,313 (557,506 ) 407,835 Property, plant and equipment Oil and gas properties (successful efforts method) — 7,840,921 — (1,966 ) 7,838,955 Other property and equipment — 214,818 653,928 — 868,746 Less: accumulated depreciation, depletion, amortization and impairment — (2,499,867 ) (34,348 ) — (2,534,215 ) Total property, plant and equipment, net — 5,555,872 619,580 (1,966 ) 6,173,486 Investments in and advances to subsidiaries 4,790,976 422,132 — (5,213,108 ) — Derivative instruments — 9 — — 9 Deferred income taxes 183,568 — — (183,568 ) — Long-term inventory — 12,200 — — 12,200 Other assets — 19,587 2,013 — 21,600 Total assets $ 5,400,657 $ 6,460,715 $ 709,906 $ (5,956,148 ) $ 6,615,130 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ — $ 13,370 $ — $ — $ 13,370 Accounts payable - affiliates 34,382 511,486 11,638 (557,506 ) — Revenues and production taxes payable — 213,995 — — 213,995 Accrued liabilities 216 177,446 58,818 — 236,480 Accrued interest payable 38,796 53 114 — 38,963 Derivative instruments — 115,716 — — 115,716 Advances from joint interest partners — 4,916 — — 4,916 Other current liabilities — 40 — — 40 Total current liabilities 73,394 1,037,022 70,570 (557,506 ) 623,480 Long-term debt 1,949,606 70,000 78,000 — 2,097,606 Deferred income taxes — 489,489 — (183,568 ) 305,921 Asset retirement obligations — 47,195 1,316 — 48,511 Derivative instruments — 19,851 — — 19,851 Other liabilities — 6,182 — — 6,182 Total liabilities 2,023,000 1,669,739 149,886 (741,074 ) 3,101,551 Stockholders’ equity Capital contributions from affiliates — 3,264,691 234,935 (3,499,626 ) — Common stock, $0.01 par value: 450,000,000 shares authorized; 270,627,014 shares issued and 269,295,466 shares outstanding 2,668 — — — 2,668 Treasury stock, at cost: 1,331,548 shares (22,179 ) — — — (22,179 ) Additional paid-in-capital 2,677,217 8,922 — (8,922 ) 2,677,217 Retained earnings 719,951 1,379,475 11,639 (1,393,080 ) 717,985 Oasis share of stockholders’ equity 3,377,657 4,653,088 246,574 (4,901,628 ) 3,375,691 Non-controlling interests — 137,888 313,446 (313,446 ) 137,888 Total stockholders’ equity 3,377,657 4,790,976 560,020 (5,215,074 ) 3,513,579 Total liabilities and stockholders’ equity $ 5,400,657 $ 6,460,715 $ 709,906 $ (5,956,148 ) $ 6,615,130 Condensed Consolidating Statement of Operations Three Months Ended March 31, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Revenues Oil and gas revenues — 363,671 — — $ 363,671 Purchased oil and gas sales — 18,037 — — 18,037 Midstream revenues — 1,150 61,421 (34,649 ) 27,922 Well services revenues — 11,586 — — 11,586 Total revenues — 394,444 61,421 (34,649 ) 421,216 Operating expenses Lease operating expenses — 55,699 — (10,918 ) 44,781 Midstream operating expenses — 746 17,116 (9,877 ) 7,985 Well services operating expenses — 7,387 — — 7,387 Marketing, transportation and gathering expenses — 26,672 — (5,659 ) 21,013 Purchased oil and gas expenses — 17,998 — — 17,998 Production taxes — 31,000 — — 31,000 Depreciation, depletion and amortization — 146,227 6,364 (3,326 ) 149,265 Exploration expenses — 769 — — 769 Impairment — 93 — — 93 General and administrative expenses 7,232 17,678 6,150 (3,120 ) 27,940 Total operating expenses 7,232 304,269 29,630 (32,900 ) 308,231 Operating income (loss) (7,232 ) 90,175 31,791 (1,749 ) 112,985 Other income (expense) Equity in earnings of subsidiaries 32,164 31,529 — (63,693 ) — Net loss on derivative instruments — (71,116 ) — — (71,116 ) Interest expense, net of capitalized interest (32,446 ) (4,438 ) (262 ) — (37,146 ) Other expense — (183 ) — — (183 ) Total other expense (282 ) (44,208 ) (262 ) (63,693 ) (108,445 ) Income (loss) before income taxes (7,514 ) 45,967 31,529 (65,442 ) 4,540 Income tax benefit (expense) 8,104 (8,932 ) — — (828 ) Net income including non-controlling interests 590 37,035 31,529 (65,442 ) 3,712 Less: Net income attributable to non-controlling interests — 3,122 21,574 (21,574 ) 3,122 Net income attributable to Oasis $ 590 $ 33,913 $ 9,955 $ (43,868 ) $ 590 Condensed Consolidating Statement of Operations Three Months Ended March 31, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 237,252 $ — $ 237,252 Purchased oil and gas sales — 27,631 — 27,631 Midstream revenues — 14,606 — 14,606 Well services revenues — 5,627 — 5,627 Total revenues — 285,116 — 285,116 Operating expenses Lease operating expenses — 43,872 — 43,872 Midstream operating expenses — 3,327 — 3,327 Well services operating expenses — 4,560 — 4,560 Marketing, transportation and gathering expenses — 10,951 — 10,951 Purchased oil and gas expenses — 28,002 — 28,002 Production taxes — 20,299 — 20,299 Depreciation, depletion and amortization — 126,666 — 126,666 Exploration expenses — 1,489 — 1,489 Impairment — 2,682 — 2,682 General and administrative expenses 7,065 16,111 — 23,176 Total operating expenses 7,065 257,959 — 265,024 Operating income (loss) (7,065 ) 27,157 — 20,092 Other income (expense) Equity in earnings of subsidiaries 49,103 — (49,103 ) — Net gain on derivative instruments — 56,075 — 56,075 Interest expense, net of capitalized interest (32,851 ) (3,470 ) — (36,321 ) Other income — 16 — 16 Total other income 16,252 52,621 (49,103 ) 19,770 Income before income taxes 9,187 79,778 (49,103 ) 39,862 Income tax benefit (expense) 14,638 (30,675 ) — (16,037 ) Net income $ 23,825 $ 49,103 $ (49,103 ) $ 23,825 Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income including non-controlling interests $ 590 $ 37,035 $ 31,529 $ (65,442 ) $ 3,712 Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities: Equity in earnings of subsidiaries (32,164 ) (31,529 ) — 63,693 — Depreciation, depletion and amortization — 146,227 6,364 (3,326 ) 149,265 Impairment — 93 — — 93 Deferred income taxes (8,104 ) 8,932 — — 828 Derivative instruments — 71,116 — — 71,116 Equity-based compensation expenses 6,418 273 63 — 6,754 Deferred financing costs amortization and other 3,929 1,432 114 — 5,475 Working capital and other changes: Change in accounts receivable 51,714 (23,888 ) 36,992 (70,526 ) (5,708 ) Change in inventory — (3,672 ) — — (3,672 ) Change in prepaid expenses (180 ) 641 31 — 492 Change in long-term inventory and other assets — (315 ) — — (315 ) Change in accounts payable, interest payable and accrued liabilities (12,832 ) (66,000 ) 8,062 70,526 (244 ) Change in other liabilities — 563 — — 563 Net cash provided by operating activities 9,371 140,908 83,155 (5,075 ) 228,359 Cash flows from investing activities: Capital expenditures — (169,994 ) (84,844 ) — (254,838 ) Acquisitions — (520,728 ) — — (520,728 ) Derivative settlements — (36,974 ) — — (36,974 ) Advances from joint interest partners — (28 ) — — (28 ) Net cash used in investing activities — (727,724 ) (84,844 ) — (812,568 ) Cash flows from financing activities: Proceeds from Revolving Credit Facilities — 1,413,000 57,000 — 1,470,000 Principal payments on Revolving Credit Facilities — (857,000 ) (18,000 ) — (875,000 ) Deferred financing costs — (215 ) — — (215 ) Purchases of treasury stock (6,021 ) — — — (6,021 ) Distributions to non-controlling interests — 34,866 (38,316 ) — (3,450 ) Investment in subsidiaries / capital contributions from parent (3,259 ) (5,986 ) 4,170 5,075 — Other (90 ) — — — (90 ) Net cash provided by (used in) financing activities (9,370 ) 584,665 4,854 5,075 585,224 Increase (decrease) in cash and cash equivalents 1 (2,151 ) 3,165 — 1,015 Cash and cash equivalents at beginning of period 178 15,659 883 — 16,720 Cash and cash equivalents at end of period $ 179 $ 13,508 $ 4,048 $ — $ 17,735 Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income $ 23,825 $ 49,103 $ (49,103 ) $ 23,825 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (49,103 ) — 49,103 — Depreciation, depletion and amortization — 126,666 — 126,666 Impairment — 2,682 — 2,682 Deferred income taxes (14,638 ) 30,675 — 16,037 Derivative instruments — (56,075 ) — (56,075 ) Equity-based compensation expenses 6,498 210 — 6,708 Deferred financing costs amortization and other 3,665 1,275 — 4,940 Working capital and other changes: Change in accounts receivable 51,230 (27,952 ) (45,756 ) (22,478 ) Change in inventory — (3,679 ) — (3,679 ) Change in prepaid expenses (59 ) 341 — 282 Change in other current assets (2 ) (108 ) — (110 ) Change in long-term inventory and other assets — (4 ) — (4 ) Change in accounts payable, interest payable and accrued liabilities (13,321 ) (26,375 ) 45,756 6,060 Change in other current liabilities — 2,945 — 2,945 Net cash provided by operating activities 8,095 99,704 — 107,799 Cash flows from investing activities: Capital expenditures — (96,047 ) — (96,047 ) Derivative settlements — (7,960 ) — (7,960 ) Advances from joint interest partners — (759 ) — (759 ) Net cash used in investing activities — (104,766 ) — (104,766 ) Cash flows from financing activities: Proceeds from Oasis Credit Facility — 246,000 — 246,000 Principal payments on Oasis Credit Facility — (241,000 ) — (241,000 ) Purchases of treasury stock (5,419 ) — — (5,419 ) Investment in subsidiaries / capital contributions from parent (2,610 ) 2,610 — — Other (55 ) — — (55 ) Net cash provided by (used in) financing activities (8,084 ) 7,610 — (474 ) Increase in cash and cash equivalents 11 2,548 — 2,559 Cash and cash equivalents at beginning of period 166 11,060 — 11,226 Cash and cash equivalents at end of period $ 177 $ 13,608 $ — $ 13,785

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the period after the balance sheet date, noting no subsequent events or transactions that required recognition or disclosure in the financial statements, other than as previously disclosed.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the Condensed Consolidated Balance Sheet at December 31, 2017 is derived from audited financial statements. Certain reclassifications of prior year balances have been made to conform such amounts to current year classifications. These reclassifications have no impact on net income. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for the fair statement of the Company’s financial position, have been included. Management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The results for interim periods are not necessarily indicative of annual results. These interim financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain disclosures have been condensed or omitted from these financial statements. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete consolidated financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (“ 2017 Annual Report”).
Consolidation	Consolidation. The accompanying condensed consolidated financial statements of the Company include the accounts of Oasis, the accounts of wholly-owned subsidiaries, and the accounts of OMP , which is considered a variable interest entity (“ VIE ”) for which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated upon consolidation.
Consolidated VIE	Consolidated VIE . The Company has determined that the partners with equity at risk in OMP lack the authority, through voting rights or similar rights, to direct the activities that most significantly impact OMP ’s economic performance. Therefore, as the limited partners of OMP do not have substantive kick-out or substantive participating rights over OMP GP LLC (“ OMP GP ”), the general partner to OMP , OMP is a VIE . Through the Company’s ownership interest in OMP GP , the Company has the authority to direct the activities that most significantly affect economic performance and the right to receive benefits that could be potentially significant to OMP . Therefore, the Company is considered the primary beneficiary and consolidates OMP and records a non-controlling interest for the interest owned by the public as of March 31, 2018 .
Risks and Uncertainties	Risks and Uncertainties As an oil and natural gas producer, the Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for oil and natural gas, which are dependent upon numerous factors beyond its control such as economic, political and regulatory developments and competition from other energy sources. The energy markets have historically been very volatile, and there can be no assurance that oil and natural gas prices will not be subject to wide fluctuations in the future. A substantial or extended decline in prices for oil and, to a lesser extent, natural gas could have a material adverse effect on the Company’s financial position, results of operations, cash flows and quantities of oil and natural gas reserves that may be economically produced.
Revenue Recognition	Revenue recognition. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The objective of ASU 2014-09 is greater consistency and comparability across industries by using a five-step model to recognize revenue from customer contracts. ASU 2014-09 was applied on a modified retrospective basis. The adoption of ASU 2014-09 did not result in a material impact to the Company’s financial position, cash flows or results of operations. Enhanced disclosures in accordance with ASU 2014-09 have been provided in Note 3 – Revenue Recognition . In May 2014, the FASB issued a new accounting standard related to revenue recognition, ASC 606 - Revenue from Contracts with Customers (“ASC 606”) . This standard was effective in first quarter 2018 and the Company adopted the new standard using the modified retrospective method. The Company applied ASC 606 to all new contracts entered into after January 1, 2018 and all existing contracts for which all (or substantially all) of the revenue has not been recognized under legacy revenue guidance as of December 31, 2017. ASC 606 supersedes previous revenue recognition requirements in ASC 605 and includes a five-step revenue recognition model to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In accordance with the adoption of ASC 606, management evaluated its contracts with customers to apply the five-step revenue recognition model. The adoption of ASC 606 did not result in a material impact to the Company’s financial position, cash flows or results of operations. The unit of account in ASC 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided over a period of time. ASC 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. Exploration and production revenues Our exploration and production revenues are derived from contracts for oil, natural gas and NGL sales, as described below. Generally, for the major ity of these contracts: (i) each unit (barrel, mcf, gallon, etc.) of commodity product is a separate performance obligation, as our promise is to sell multiple distinct units of commodity product at a point in time; (ii) the transaction price principally consists of variable consideration, which amount is determinable each month end based on our right to invoice at month end for the value of commodity product sold to the customer that month; and (iii) the transaction price is allocated to each performance obligation based on the commodity product’s standalone selling price and recognized as revenue upon delivery of the commodity product, which is the point in time when the customer obtains control of the commodity product and our performance obligation is satisfied. The sales of oil, natural gas and NGLs as presented on the Company’s Condensed Consolidated Statements of Operations represent the Company’s share of revenues net of royalties and excluding revenue interests owned by others. When selling oil, natural gas and NGLs on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the expected sales volumes and prices for those properties are estimated and recorded. The Company’s contracts with customers typically require payments for oil, natural gas and NGL sales within 30 days following the calendar month of delivery. Oil sales. The Company sells a substantial majority of its oil through bulk sales at delivery points on crude oil gathering systems or directly at the wellhead to a variety of customers under short-term contracts that include a specified quantity of crude oil to be delivered and sold to the customer at a specified delivery point. The customer pays a market-based transaction price, which incorporates differentials that include, but are not limited to, transportation costs and adjustments for product quality. Natural gas sales. The Company’s natural gas sales consist of unprocessed gas sales and residue gas sales. Unprocessed gas is sold at delivery points at or near the wellhead under percentage of proceeds contracts, in which the customer pays a transaction price based on its sale of the bifurcated NGLs and residue gas, less any associated fees. Revenue is recorded on a net basis, with processing fees deducted within revenue rather than as a separate expense line item, as title and control transfer at the delivery point. Residue gas is sold from the tailgate of the Company’s gas processing plant located in Wild Basin or transported and sold at other downstream sales points, and the customer pays a transaction price based on a market indexed per-unit rate for the quantities sold. NGL sales. NGLs are sold from the Company’s gas processing plant complex located in Wild Basin or trucked and sold at other downstream locations, and the customer pays a transaction price based on a market indexed per-unit rate for the quantities sold. Prior period performance obligations. For sales of oil, purchased oil, natural gas, purchased gas and NGLs, the Company records revenue in the month production is delivered to the purchaser. However, settlement statements and payment may not be received for 30 to 90 days after the date production is delivered, and as a result, the Company is required to estimate the amount of production that was delivered to the purchaser and the price that will be received for the sale of the product. The Company records the differences between estimates and the actual amounts received for product sales once payment is received from the purchaser. Such differences have historically not been significant. The Company uses knowledge of its properties, its properties' historical performance, spot market prices and other factors as the basis for these estimates. For the three months ended March 31, 2018, revenue recognized related to performance obligations satisfied in prior reporting periods was not material. Revenues associated with contracts with customers for oil, natural gas and NGL sales were as follows for the three months ended March 31, 2018 and 2017 : Exploration and Production Revenues Three Months Ended March 31, 2018 2017 (In thousands) Oil revenues $ 323,386 $ 208,595 Purchased oil sales 17,989 27,630 Natural gas revenues 26,961 19,535 Purchased gas sales 49 — NGL revenues 13,323 9,124 Total exploration and production revenues $ 381,708 $ 264,884 Midstream revenues Crude oil and natural gas revenues. The Company is party to certain contracts for gas gathering, compression, processing and gas lift services, as well as crude oil gathering, stabilization, blending, storage and transportation. Under these customer contracts, the Company provides daily integrated midstream services on a stand ready basis over a period of time, which represents a single performance obligation since the customer simultaneously receives and consumes the benefits of these services on a daily basis. Satisfaction of the Company’s performance obligation is measured as each day of service is completed, which directly corresponds with its right to consideration from the customer. Revenues associated with these contracts are recognized based upon the transaction price at month-end under the right to invoice practical expedient. Payments from customers are generally received by the Company within one month after the month in which services are provided. Water revenues. The Company is also party to certain contracts with customers for water services, which includes produced and flowback water gathering and disposal services and freshwater distribution services. Under its customer contracts for produced and flowback water gathering and disposal services, the Company provides daily integrated midstream services on a stand ready basis over a period of time, which represents a single performance obligation since the customer simultaneously receives and consumes the benefits of these services on a daily basis. Satisfaction of the Company’s performance obligation is measured as each day of service is completed, which directly corresponds with its right to consideration from the customer. Revenues associated with these contracts are recognized based upon the transaction price at month-end under the right to invoice practical expedient. Payments from customers are generally received by the Company within one month after the month in which services are provided. Under its customer contracts for freshwater distribution services, the Company supplies and distributes freshwater to its customers for hydraulic fracturing and production optimization. Management has determined these contracts contain multiple distinct performance obligations since each freshwater barrel is not dependent nor highly interrelated with other barrels. Revenue associated with freshwater distribution services is recognized at a point-in-time based upon the transaction price when title, control and risk of loss transfers to the customer, which occurs at the delivery point. Payments are due from customers 30 days after receipt of invoice. Revenues associated with contracts with customers for midstream services were as follows for the three months ended March 31, 2018 and 2017 : Midstream Revenues (1) Three Months Ended March 31, 2018 2017 (In thousands) Crude oil and natural gas revenues $ 18,029 $ 8,551 Water revenues 9,893 6,055 Total midstream revenues $ 27,922 $ 14,606 __________________ (1) Represents midstream revenues excluding all intercompany revenues for work performed by the midstream services business segment for Oasis’s working interests that are eliminated in consolidation and are therefore not included in midstream services revenues. Well services revenues Hydraulic fracturing service revenues. Hydraulic fracturing revenue is recognized upon the completion of each hydraulic fracturing of a well. These services are composed of various components, such as personnel, equipment and hydraulic fracturing materials, but management determined that each component is not distinct, as it cannot be used on its own or together with a resource readily available to the customer. Revenue is recognized when the performance obligations of hydraulic fracturing a well in its totality are completed; generally, this is over a period of time due to all work being performed for a customer occurring on the customer’s property, where the customer has control over the work in process as it is being performed. In addition, the Company’s assets being used to perform the obligations have no alternative use at the time of performance and the Company has the right to payment for performance to date. Payments from customers are generally received by the Company within one month after the month in which services are provided. In addition, revenue from product sales to third parties is generated when OPNA requests that third-party hydraulic fracturing companies hydraulic fracture OPNA’s wells. Although the labor is provided by the third-party hydraulic fracturing company, the materials (e.g., sand, chemicals, etc.) used in the hydraulic fracturing of the wells are provided by OWS. The third-party hydraulic fracturing company or OPNA pays OWS for the materials delivered to the wells. Revenue is recognized once the performance obligations to transfer hydraulic fracturing materials are completed. Equipment rental revenues. Equipment rental revenue is generated when OPNA or a third-party hydraulic fracturing company rents equipment from OWS. This equipment is used in the preparation stage of hydraulic fracturing services or after the hydraulic fracturing services have been completed. Equipment rental revenues are calculated based on the equipment’s daily rental rate and the number of days that the equipment was rented by the customer. OWS’s performance obligation is satisfied when the entire rental period is completed. Equipment rental revenues are recognized over a period of time due to the customer simultaneously receiving and consuming the bene fits of the rental equipment provided by OWS on a daily basis. Satisfaction of the Company’s performance obligation is measured as each day of rental period is completed, which directly corresponds with its right to consideration from the customer. Revenues associated with these contracts are recognized at the time of invoicing for the entire rental period under the right to invoice practical expedient. Payments from customers are generally received by the Company within one month after the month in which services are provided. Revenues associated with contracts with customers for hydraulic fracturing services and equipment rental sales were as follows for the three months ended March 31, 2018 and 2017 : Well Services Revenues (1) Three Months Ended March 31, 2018 2017 (In thousands) Hydraulic fracturing service revenues $ 10,426 $ 5,156 Equipment rental revenues 1,160 471 Total well services revenues $ 11,586 $ 5,627 __________________ (1) Represents well services revenues excluding all intercompany revenues for work performed by the well services business segment for Oasis’s working interests that are eliminated in consolidation and are therefore not included in well services revenues. Contract balances Under the Company's customer contracts, invoicing occurs once the Company's performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company's contracts do not give rise to contract assets or liabilities under ASC 606. Performance obligations The majority of the Company’s sales are short-term in nature with a contract term of one year or less. For those contracts, the Company utilized the practical expedient in ASC 606-10-50-14 that exempts the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. For the Company’s product sales that have a contract term greater than one year, the Company utilized the practical expedient in ASC 606-10-50-14(A) which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these sales contracts, each unit of product generally represents a separate performance obligation; therefore future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Under the midstream services contracts, each unit of service represents a separate performance obligation and therefore performance obligations in respect of future services are wholly unsatisfied.
Financial Instruments	Financial instruments. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”), which requires that most equity instruments be measured at fair value with subsequent changes in fair value recognized in net income. ASU 2016-01 also impacts financial liabilities under the fair value option and the presentation and disclosure requirements for financial instrume nts. ASU 2016-01 does not apply to equity method investments or investments in consolidated subsidiaries. ASU 2016-01 was applied on a prospective basis and prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 .
Statement of Cash Flows	Statement of cash flows. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2016-15, Statement of Cash Flows (“ASU 2016-15”), which is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. ASU 2016-15 was applied on a prospective basis and pri or periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 .
Income Taxes	Income taxes. In the fir st quarter of 2018, the Company adopted Accounting Standards Update No. 2016-16, Intra-Entity Transfers of Assets Other Than Invent ory (“ASU 2016-16”), to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. ASU 2016-16 was applied on a prospective basis and pri or periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 .
Business Combinations	Business combinations. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”), which provides guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 requires entities to use a screen test to determine when an integrated set of assets and activities is not a business or if the integrated set of assets and activities needs to be further evaluated against the framework. ASU 2017-01 was applied on a prospective basis and prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 .
Equity-based Compensation	Equity-based compensation. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2017-09, Scope of Modification Accounting (“ASU 2017-09”), which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. ASU 2017-09 was applied on a prospective basis and pri or periods were not retrospectively adjusted. There was no material impact as a result of adoption as of March 31, 2018 .
Recent Accounting Pronouncements	Recent Accounting Pronouncements Leas es. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases (“ASU 2016-02”), which requires a lessee to recognize lease payment obligations and a corresponding right-of-use asset to be measured at fair value on the balance sheet. ASU 2016-02 also requires certain qualitative and quantitative disclosures about the amount, timing and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. In January 2018, the FASB issued Accounting Standards Update No. 2018-01, Land easement practical expedient for transition to Topic 842 (“ASU 2018-01”), which provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounting for as leases under Topic 840, Leases . The Company plans to elect this practical expedient and is currently evaluating the effect that adopting the new lease guidance will have on its financial position, cash flows or results of operations. Income taxes. In March 2018, the FASB issued Accounting Standards Update No. 2018-05, Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (“ASU 2018-05”). The standard amends Accounting Standards Codification 740, Income Taxes (ASC 740) to provide guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (the “Tax Act”) pursuant to Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act ("SAB 118"). The Company is currently evaluating the effect of the new tax guidance, but does not expect it to have a material impact on its financial position, cash flows or results of operations. See Note 12 – Income Taxes .
Inventory	Inventory , including long-term inventory, is stated at the lower of cost and net realizable value with cost determined on an average cost method. T he Company assesses the carrying value of inventory and uses estimates and judgment when making any adjustments necessary to reduce the carrying value to net realizable value. Among the uncertainties that impact the Company’s estimates are the applicable quality and location differentials to include in the Company’s net realizable value analysis. Additionally, the Company estimates the upcoming liquidation timing of the inventory. Changes in assumptions made as to the timing of a sale can materially impact net realizable value.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenues associated with contracts with customers for oil, natural gas and NGL sales were as follows for the three months ended March 31, 2018 and 2017 : Exploration and Production Revenues Three Months Ended March 31, 2018 2017 (In thousands) Oil revenues $ 323,386 $ 208,595 Purchased oil sales 17,989 27,630 Natural gas revenues 26,961 19,535 Purchased gas sales 49 — NGL revenues 13,323 9,124 Total exploration and production revenues $ 381,708 $ 264,884 Revenues associated with contracts with customers for midstream services were as follows for the three months ended March 31, 2018 and 2017 : Midstream Revenues (1) Three Months Ended March 31, 2018 2017 (In thousands) Crude oil and natural gas revenues $ 18,029 $ 8,551 Water revenues 9,893 6,055 Total midstream revenues $ 27,922 $ 14,606 __________________ (1) Represents midstream revenues excluding all intercompany revenues for work performed by the midstream services business segment for Oasis’s working interests that are eliminated in consolidation and are therefore not included in midstream services revenues. Revenues associated with contracts with customers for hydraulic fracturing services and equipment rental sales were as follows for the three months ended March 31, 2018 and 2017 : Well Services Revenues (1) Three Months Ended March 31, 2018 2017 (In thousands) Hydraulic fracturing service revenues $ 10,426 $ 5,156 Equipment rental revenues 1,160 471 Total well services revenues $ 11,586 $ 5,627 __________________ (1) Represents well services revenues excluding all intercompany revenues for work performed by the well services business segment for Oasis’s working interests that are eliminated in consolidation and are therefore not included in well services revenues.

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Components of Inventory	Total inventory consists of the following: March 31, 2018 December 31, 2017 (In thousands) Inventory Crude oil inventory $ 10,390 $ 10,427 Equipment and materials 12,649 8,940 Total inventory $ 23,039 $ 19,367 Long-term inventory Linefill in third-party pipelines $ 12,506 $ 12,200 Long-term inventory $ 12,506 $ 12,200 Total $ 35,545 $ 31,567
Components of Long-term Inventory	Total inventory consists of the following: March 31, 2018 December 31, 2017 (In thousands) Inventory Crude oil inventory $ 10,390 $ 10,427 Equipment and materials 12,649 8,940 Total inventory $ 23,039 $ 19,367 Long-term inventory Linefill in third-party pipelines $ 12,506 $ 12,200 Long-term inventory $ 12,506 $ 12,200 Total $ 35,545 $ 31,567

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Accounts Receivable, Net	The following table sets forth the Company’s accounts receivable, net: March 31, 2018 December 31, 2017 (In thousands) Accounts receivable, net Trade accounts $ 235,480 $ 233,660 Joint interest accounts 91,817 73,588 Other accounts 45,254 57,905 Total 372,551 365,153 Allowance for doubtful accounts (1,573 ) (1,573 ) Total accounts receivable, net $ 370,978 $ 363,580

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Hierarchy of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables set forth by level, within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Fair value at March 31, 2018 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds $ 142 $ — $ — $ 142 Total assets $ 142 $ — $ — $ 142 Liabilities: Commodity derivative instruments (see Note 7) $ — $ 169,356 $ — $ 169,356 Total liabilities $ — $ 169,356 $ — $ 169,356 Fair value at December 31, 2017 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds $ 142 $ — $ — $ 142 Commodity derivative instruments (see Note 7) — 353 — 353 Total assets $ 142 $ 353 $ — $ 495 Liabilities: Commodity derivative instruments (see Note 7) $ — $ 135,567 $ — $ 135,567 Total liabilities $ — $ 135,567 $ — $ 135,567

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Commodity Derivative Instruments	At March 31, 2018 , the Company had the following outstanding commodity derivative instruments: Commodity Settlement Derivative Volumes Weighted Average Prices Fair Value Swap Sub-Floor Floor Ceiling (In thousands) Crude oil 2018 Swaps 11,029,000 Bbl $ 51.92 $ (125,062 ) Crude oil 2018 Two-way collar 825,000 Bbl $ 48.67 $ 53.07 (8,649 ) Crude oil 2019 Swaps 5,489,000 Bbl $ 53.05 (32,612 ) Crude oil 2019 Two-way collar 93,000 Bbl $ 48.67 $ 53.07 (812 ) Crude oil 2019 Three-way collar 2,004,000 Bbl $ 40.00 $ 50.00 $ 65.99 (2,217 ) Crude oil 2020 Swaps 403,000 Bbl $ 53.47 (1,261 ) Crude oil 2020 Three-way collar 186,000 Bbl $ 40.00 $ 50.00 $ 65.99 (113 ) Natural gas 2018 Swaps 6,325,000 MMbtu $ 3.05 1,369 $ (169,357 )
Gains and Losses from Commodity Derivative Instruments	The following table summarizes the location and amounts of gains and losses from the Company’s commodity derivative instruments recorded in the Company’s Condensed Consolidated Statements of Operations for the periods presented: Three Months Ended March 31, Statement of Operations Location 2018 2017 (In thousands) Net gain (loss) on derivative instruments $ (71,116 ) $ 56,075
Summary of Gross and Net Information about Commodity Derivative Assets	The following table summarizes the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheets: March 31, 2018 Commodity Balance Sheet Location Gross Recognized Liabilities Gross Amount Offset Net Recognized Fair Value Liabilities (In thousands) Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 149,657 $ — $ 149,657 Commodity contracts Derivative instruments — non-current liabilities 25,214 (5,515 ) 19,699 Total derivatives liabilities $ 174,871 $ (5,515 ) $ 169,356 December 31, 2017 Commodity Balance Sheet Location Gross Recognized Assets/Liabilities Gross Amount Offset Net Recognized Fair Value Assets/Liabilities (In thousands) Derivatives assets: Commodity contracts Derivative instruments — current assets $ 344 $ — $ 344 Commodity contracts Derivative instruments — non-current assets 9 — 9 Total derivatives assets $ 353 $ — $ 353 Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 117,629 $ (1,913 ) $ 115,716 Commodity contracts Derivative instruments — non-current liabilities 20,035 (184 ) 19,851 Total derivatives liabilities $ 137,664 $ (2,097 ) $ 135,567
Summary of Gross and Net Information about Commodity Derivative Liabilities	The following table summarizes the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Condensed Consolidated Balance Sheets: March 31, 2018 Commodity Balance Sheet Location Gross Recognized Liabilities Gross Amount Offset Net Recognized Fair Value Liabilities (In thousands) Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 149,657 $ — $ 149,657 Commodity contracts Derivative instruments — non-current liabilities 25,214 (5,515 ) 19,699 Total derivatives liabilities $ 174,871 $ (5,515 ) $ 169,356 December 31, 2017 Commodity Balance Sheet Location Gross Recognized Assets/Liabilities Gross Amount Offset Net Recognized Fair Value Assets/Liabilities (In thousands) Derivatives assets: Commodity contracts Derivative instruments — current assets $ 344 $ — $ 344 Commodity contracts Derivative instruments — non-current assets 9 — 9 Total derivatives assets $ 353 $ — $ 353 Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 117,629 $ (1,913 ) $ 115,716 Commodity contracts Derivative instruments — non-current liabilities 20,035 (184 ) 19,851 Total derivatives liabilities $ 137,664 $ (2,097 ) $ 135,567

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The following table sets forth the Company’s property, plant and equipment: March 31, 2018 December 31, 2017 (In thousands) Proved oil and gas properties (1) $ 7,484,783 $ 7,058,782 Less: Accumulated depreciation, depletion, amortization and impairment (2,538,739 ) (2,395,153 ) Proved oil and gas properties, net 4,946,044 4,663,629 Unproved oil and gas properties 1,426,313 780,173 Other property and equipment 963,871 868,746 Less: Accumulated depreciation (149,622 ) (139,062 ) Other property and equipment, net 814,249 729,684 Total property, plant and equipment, net $ 7,186,606 $ 6,173,486 __________________ (1) Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $42.7 million and $39.9 million at March 31, 2018 and December 31, 2017 , respectively.

Acquisition Acquisition (Tables

Acquisition Acquisition (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the consideration paid for the Company’s acquisition and the fair value of the assets acquired and liabilities assumed as of the acquisition date. The purchase price allocation is preliminary and subject to adjustment, as the final closing statement will be completed in the third quarter of 2018. At February 14, 2018 (In thousands) Consideration paid to Forge Energy: Cash $ 549,770 Common stock: 46,000,000 shares issued 371,220 $ 920,990 Recognized amounts of identifiable assets acquired and liabilities assumed: Proved developed properties $ 110,735 Proved undeveloped properties 167,170 Unproved lease acquisition costs 644,040 Inventory 293 Intangible assets 1,000 Asset retirement obligations (2,248 ) $ 920,990
Pro Forma Information	Summarized below are the consolidated results of operations for the three months ended March 31, 2018 , on an unaudited pro forma basis, as if the acquisition and related financing had occurred on January 1, 2017 . The unaudited pro forma financial information was derived from the historical consolidated statements of operations of the Company and the statement of revenues and direct operating expenses for the Permian Basin Acquisition properties, which were derived from the historical accounting records of Forge Energy . The unaudited pro forma financial information does not purport to be indicative of results of operations that would have occurred had the acquisition and related financing occurred on the basis assumed above, nor is such information indicative of the Company’s expected future results of operations. Three Months Ended March 31, 2018 2017 (In thousands) Unaudited Revenues $ 426,733 $ 290,082 Net income attributable to Oasis 5,168 27,922 Net income attributable to Oasis per share: Basic $ 0.02 $ 0.10 Diluted 0.02 0.10

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company’s long-term debt consists of the following: March 31, 2018 December 31, 2017 (In thousands) Oasis Credit Facility $ 626,000 $ 70,000 OMP Credit Facility 117,000 78,000 Senior unsecured notes 7.25% senior unsecured notes due February 1, 2019 54,275 54,275 6.5% senior unsecured notes due November 1, 2021 395,501 395,501 6.875% senior unsecured notes due March 15, 2022 937,080 937,080 6.875% senior unsecured notes due January 15, 2023 366,094 366,094 2.625% senior unsecured convertible notes due September 15, 2023 300,000 300,000 Total principal of senior unsecured notes 2,052,950 2,052,950 Less: unamortized deferred financing costs on senior unsecured notes (21,646 ) (22,956 ) Less: unamortized debt discount on senior unsecured convertible notes (77,771 ) (80,388 ) Total long-term debt $ 2,696,533 $ 2,097,606

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes in Asset Retirement Obligations	The following table reflects the changes in the Company’s ARO during the three months ended March 31, 2018 : (In thousands) Balance at December 31, 2017 $ 48,799 Liabilities incurred during period 2,703 Liabilities settled during period (1 ) Accretion expense during period (1) 665 Revisions to estimates 84 Balance at March 31, 2018 $ 52,250 ___________________ (1) Included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Based Compensation Assumptions	The following assumptions were used for the Monte Carlo model to determine the grant date fair value and associated equity-based compensation expense of the PSUs granted during the three months ended March 31, 2018 : Risk-free interest rate 2.08% - 2.31% Oasis volatility 72.88 % Oasis initial value $8.82 Oasis stock price on date of grant $9.27

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Weighted-Average Number of Shares Outstanding	The following is a calculation of the basic and diluted weighted average shares outstanding for the three months ended March 31, 2018 and 2017 : Three Months Ended March 31, 2018 2017 (In thousands) Basic weighted average common shares outstanding 290,105 233,068 Dilutive effect of restricted stock awards and PSUs 1,633 3,238 Dilutive effect of senior convertible notes (1) — 1,594 Diluted weighted average common shares outstanding 291,738 237,900 __________________ (1) No contingently issuable shares related to senior convertible notes were included in computing earnings (loss) per share for the three months ended March 31, 2018 because the effect was anti-dilutive.
Schedule of Common Shares Excluded From Diluted Earnings (Loss) per Share Calculation	The following is a calculation of weighted average common shares excluded from diluted earnings (loss) per share due to the anti-dilutive effect: Three Months Ended March 31, 2018 2017 (In thousands) Restricted stock awards and PSUs 5,281 2,884

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Summarized Financial Information of Segments	The following table summarizes financial information for the Company’s three business segments for the periods presented: Exploration and Production Midstream Services Well Services Eliminations Consolidated (In thousands) Three months ended March 31, 2018: Revenues from non-affiliates $ 381,708 $ 27,922 $ 11,586 $ — $ 421,216 Inter-segment revenues — 36,640 33,302 (69,942 ) — Total revenues 381,708 64,562 44,888 (69,942 ) 421,216 Operating income 79,962 32,237 8,148 (7,362 ) 112,985 Other expense (108,146 ) (258 ) (41 ) — (108,445 ) Income (loss) before income taxes including non-controlling interests $ (28,184 ) $ 31,979 $ 8,107 $ (7,362 ) $ 4,540 Three months ended March 31, 2017: Revenues from non-affiliates $ 264,883 $ 14,606 $ 5,627 $ — $ 285,116 Inter-segment revenues — 23,035 15,352 (38,387 ) — Total revenues 264,883 37,641 20,979 (38,387 ) 285,116 Operating income (loss) 968 20,763 (3,592 ) 1,953 20,092 Other income (expense) 19,768 (2 ) 4 — 19,770 Income (loss) before income taxes $ 20,736 $ 20,761 $ (3,588 ) $ 1,953 $ 39,862 At March 31, 2018: Property, plant and equipment, net $ 6,600,397 $ 732,801 $ 47,310 $ (193,902 ) $ 7,186,606 Total assets (1) 6,994,927 752,301 50,605 (158,903 ) 7,638,930 At December 31, 2017: Property, plant and equipment, net $ 5,663,323 $ 649,923 $ 46,779 $ (186,539 ) $ 6,173,486 Total assets (1) 6,050,255 663,614 52,800 (151,539 ) 6,615,130 ___________________ (1) Intercompany receivables (payables) for all segments were reclassified to capital contributions from (distributions to) parent and not included in total assets.

Condensed Consolidating Finan38

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet March 31, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands, except share data) ASSETS Current assets Cash and cash equivalents $ 179 $ 13,508 $ 4,048 $ — $ 17,735 Accounts receivable, net — 370,001 977 — 370,978 Accounts receivable - affiliates 373,954 55,939 57,087 (486,980 ) — Inventory — 23,039 — — 23,039 Prepaid expenses 447 4,760 747 — 5,954 Intangible assets, net — 958 — — 958 Other current assets — 193 — — 193 Total current assets 374,580 468,398 62,859 (486,980 ) 418,857 Property, plant and equipment Oil and gas properties (successful efforts method) — 8,914,811 — (3,715 ) 8,911,096 Other property and equipment — 220,293 743,578 — 963,871 Less: accumulated depreciation, depletion, amortization and impairment — (2,647,665 ) (40,696 ) — (2,688,361 ) Total property, plant and equipment, net — 6,487,439 702,882 (3,715 ) 7,186,606 Investments in and advances to subsidiaries 5,198,126 428,245 — (5,626,371 ) — Deferred income taxes 191,671 — — (191,671 ) — Long-term inventory — 12,506 — — 12,506 Other assets — 19,062 1,899 — 20,961 Total assets $ 5,764,377 $ 7,415,650 $ 767,640 $ (6,308,737 ) $ 7,638,930 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ — $ 15,534 $ 593 $ — $ 16,127 Accounts payable - affiliates 40,406 431,041 15,533 (486,980 ) — Revenues and production taxes payable — 245,198 — — 245,198 Accrued liabilities 284 165,899 67,239 — 233,422 Accrued interest payable 19,872 736 73 — 20,681 Derivative instruments — 149,657 — — 149,657 Advances from joint interest partners — 4,888 — — 4,888 Other current liabilities — 40 — — 40 Total current liabilities 60,562 1,012,993 83,438 (486,980 ) 670,013 Long-term debt 1,953,534 626,000 117,000 — 2,696,534 Deferred income taxes — 498,420 — (191,671 ) 306,749 Asset retirement obligations — 50,624 1,331 — 51,955 Derivative instruments — 19,699 — — 19,699 Other liabilities — 7,822 — — 7,822 Total liabilities 2,014,096 2,215,558 201,769 (678,651 ) 3,752,772 Stockholders’ equity Capital contributions from affiliates — 3,640,084 224,008 (3,864,092 ) — Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding 3,154 — — — 3,154 Treasury stock, at cost: 2,021,805 shares (28,200 ) — — — (28,200 ) Additional paid-in-capital 3,055,003 8,994 — (8,994 ) 3,055,003 Retained earnings 720,324 1,413,388 21,593 (1,436,730 ) 718,575 Oasis share of stockholders’ equity 3,750,281 5,062,466 245,601 (5,309,816 ) 3,748,532 Non-controlling interests — 137,626 320,270 (320,270 ) 137,626 Total stockholders’ equity 3,750,281 5,200,092 565,871 (5,630,086 ) 3,886,158 Total liabilities and stockholders’ equity $ 5,764,377 $ 7,415,650 $ 767,640 $ (6,308,737 ) $ 7,638,930 Condensed Consolidating Balance Sheet December 31, 2017 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands, except share data) ASSETS Current assets Cash and cash equivalents $ 178 $ 15,659 $ 883 $ — $ 16,720 Accounts receivable, net — 362,746 834 — 363,580 Accounts receivable - affiliates 425,668 46,020 85,818 (557,506 ) — Inventory — 19,367 — — 19,367 Prepaid expenses 267 6,586 778 — 7,631 Derivative instruments — 344 — — 344 Other current assets — 193 — — 193 Total current assets 426,113 450,915 88,313 (557,506 ) 407,835 Property, plant and equipment Oil and gas properties (successful efforts method) — 7,840,921 — (1,966 ) 7,838,955 Other property and equipment — 214,818 653,928 — 868,746 Less: accumulated depreciation, depletion, amortization and impairment — (2,499,867 ) (34,348 ) — (2,534,215 ) Total property, plant and equipment, net — 5,555,872 619,580 (1,966 ) 6,173,486 Investments in and advances to subsidiaries 4,790,976 422,132 — (5,213,108 ) — Derivative instruments — 9 — — 9 Deferred income taxes 183,568 — — (183,568 ) — Long-term inventory — 12,200 — — 12,200 Other assets — 19,587 2,013 — 21,600 Total assets $ 5,400,657 $ 6,460,715 $ 709,906 $ (5,956,148 ) $ 6,615,130 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ — $ 13,370 $ — $ — $ 13,370 Accounts payable - affiliates 34,382 511,486 11,638 (557,506 ) — Revenues and production taxes payable — 213,995 — — 213,995 Accrued liabilities 216 177,446 58,818 — 236,480 Accrued interest payable 38,796 53 114 — 38,963 Derivative instruments — 115,716 — — 115,716 Advances from joint interest partners — 4,916 — — 4,916 Other current liabilities — 40 — — 40 Total current liabilities 73,394 1,037,022 70,570 (557,506 ) 623,480 Long-term debt 1,949,606 70,000 78,000 — 2,097,606 Deferred income taxes — 489,489 — (183,568 ) 305,921 Asset retirement obligations — 47,195 1,316 — 48,511 Derivative instruments — 19,851 — — 19,851 Other liabilities — 6,182 — — 6,182 Total liabilities 2,023,000 1,669,739 149,886 (741,074 ) 3,101,551 Stockholders’ equity Capital contributions from affiliates — 3,264,691 234,935 (3,499,626 ) — Common stock, $0.01 par value: 450,000,000 shares authorized; 270,627,014 shares issued and 269,295,466 shares outstanding 2,668 — — — 2,668 Treasury stock, at cost: 1,331,548 shares (22,179 ) — — — (22,179 ) Additional paid-in-capital 2,677,217 8,922 — (8,922 ) 2,677,217 Retained earnings 719,951 1,379,475 11,639 (1,393,080 ) 717,985 Oasis share of stockholders’ equity 3,377,657 4,653,088 246,574 (4,901,628 ) 3,375,691 Non-controlling interests — 137,888 313,446 (313,446 ) 137,888 Total stockholders’ equity 3,377,657 4,790,976 560,020 (5,215,074 ) 3,513,579 Total liabilities and stockholders’ equity $ 5,400,657 $ 6,460,715 $ 709,906 $ (5,956,148 ) $ 6,615,130
Condensed Consolidating Statement of Operations	Condensed Consolidating Statement of Operations Three Months Ended March 31, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Revenues Oil and gas revenues — 363,671 — — $ 363,671 Purchased oil and gas sales — 18,037 — — 18,037 Midstream revenues — 1,150 61,421 (34,649 ) 27,922 Well services revenues — 11,586 — — 11,586 Total revenues — 394,444 61,421 (34,649 ) 421,216 Operating expenses Lease operating expenses — 55,699 — (10,918 ) 44,781 Midstream operating expenses — 746 17,116 (9,877 ) 7,985 Well services operating expenses — 7,387 — — 7,387 Marketing, transportation and gathering expenses — 26,672 — (5,659 ) 21,013 Purchased oil and gas expenses — 17,998 — — 17,998 Production taxes — 31,000 — — 31,000 Depreciation, depletion and amortization — 146,227 6,364 (3,326 ) 149,265 Exploration expenses — 769 — — 769 Impairment — 93 — — 93 General and administrative expenses 7,232 17,678 6,150 (3,120 ) 27,940 Total operating expenses 7,232 304,269 29,630 (32,900 ) 308,231 Operating income (loss) (7,232 ) 90,175 31,791 (1,749 ) 112,985 Other income (expense) Equity in earnings of subsidiaries 32,164 31,529 — (63,693 ) — Net loss on derivative instruments — (71,116 ) — — (71,116 ) Interest expense, net of capitalized interest (32,446 ) (4,438 ) (262 ) — (37,146 ) Other expense — (183 ) — — (183 ) Total other expense (282 ) (44,208 ) (262 ) (63,693 ) (108,445 ) Income (loss) before income taxes (7,514 ) 45,967 31,529 (65,442 ) 4,540 Income tax benefit (expense) 8,104 (8,932 ) — — (828 ) Net income including non-controlling interests 590 37,035 31,529 (65,442 ) 3,712 Less: Net income attributable to non-controlling interests — 3,122 21,574 (21,574 ) 3,122 Net income attributable to Oasis $ 590 $ 33,913 $ 9,955 $ (43,868 ) $ 590 Condensed Consolidating Statement of Operations Three Months Ended March 31, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 237,252 $ — $ 237,252 Purchased oil and gas sales — 27,631 — 27,631 Midstream revenues — 14,606 — 14,606 Well services revenues — 5,627 — 5,627 Total revenues — 285,116 — 285,116 Operating expenses Lease operating expenses — 43,872 — 43,872 Midstream operating expenses — 3,327 — 3,327 Well services operating expenses — 4,560 — 4,560 Marketing, transportation and gathering expenses — 10,951 — 10,951 Purchased oil and gas expenses — 28,002 — 28,002 Production taxes — 20,299 — 20,299 Depreciation, depletion and amortization — 126,666 — 126,666 Exploration expenses — 1,489 — 1,489 Impairment — 2,682 — 2,682 General and administrative expenses 7,065 16,111 — 23,176 Total operating expenses 7,065 257,959 — 265,024 Operating income (loss) (7,065 ) 27,157 — 20,092 Other income (expense) Equity in earnings of subsidiaries 49,103 — (49,103 ) — Net gain on derivative instruments — 56,075 — 56,075 Interest expense, net of capitalized interest (32,851 ) (3,470 ) — (36,321 ) Other income — 16 — 16 Total other income 16,252 52,621 (49,103 ) 19,770 Income before income taxes 9,187 79,778 (49,103 ) 39,862 Income tax benefit (expense) 14,638 (30,675 ) — (16,037 ) Net income $ 23,825 $ 49,103 $ (49,103 ) $ 23,825
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income including non-controlling interests $ 590 $ 37,035 $ 31,529 $ (65,442 ) $ 3,712 Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities: Equity in earnings of subsidiaries (32,164 ) (31,529 ) — 63,693 — Depreciation, depletion and amortization — 146,227 6,364 (3,326 ) 149,265 Impairment — 93 — — 93 Deferred income taxes (8,104 ) 8,932 — — 828 Derivative instruments — 71,116 — — 71,116 Equity-based compensation expenses 6,418 273 63 — 6,754 Deferred financing costs amortization and other 3,929 1,432 114 — 5,475 Working capital and other changes: Change in accounts receivable 51,714 (23,888 ) 36,992 (70,526 ) (5,708 ) Change in inventory — (3,672 ) — — (3,672 ) Change in prepaid expenses (180 ) 641 31 — 492 Change in long-term inventory and other assets — (315 ) — — (315 ) Change in accounts payable, interest payable and accrued liabilities (12,832 ) (66,000 ) 8,062 70,526 (244 ) Change in other liabilities — 563 — — 563 Net cash provided by operating activities 9,371 140,908 83,155 (5,075 ) 228,359 Cash flows from investing activities: Capital expenditures — (169,994 ) (84,844 ) — (254,838 ) Acquisitions — (520,728 ) — — (520,728 ) Derivative settlements — (36,974 ) — — (36,974 ) Advances from joint interest partners — (28 ) — — (28 ) Net cash used in investing activities — (727,724 ) (84,844 ) — (812,568 ) Cash flows from financing activities: Proceeds from Revolving Credit Facilities — 1,413,000 57,000 — 1,470,000 Principal payments on Revolving Credit Facilities — (857,000 ) (18,000 ) — (875,000 ) Deferred financing costs — (215 ) — — (215 ) Purchases of treasury stock (6,021 ) — — — (6,021 ) Distributions to non-controlling interests — 34,866 (38,316 ) — (3,450 ) Investment in subsidiaries / capital contributions from parent (3,259 ) (5,986 ) 4,170 5,075 — Other (90 ) — — — (90 ) Net cash provided by (used in) financing activities (9,370 ) 584,665 4,854 5,075 585,224 Increase (decrease) in cash and cash equivalents 1 (2,151 ) 3,165 — 1,015 Cash and cash equivalents at beginning of period 178 15,659 883 — 16,720 Cash and cash equivalents at end of period $ 179 $ 13,508 $ 4,048 $ — $ 17,735 Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income $ 23,825 $ 49,103 $ (49,103 ) $ 23,825 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (49,103 ) — 49,103 — Depreciation, depletion and amortization — 126,666 — 126,666 Impairment — 2,682 — 2,682 Deferred income taxes (14,638 ) 30,675 — 16,037 Derivative instruments — (56,075 ) — (56,075 ) Equity-based compensation expenses 6,498 210 — 6,708 Deferred financing costs amortization and other 3,665 1,275 — 4,940 Working capital and other changes: Change in accounts receivable 51,230 (27,952 ) (45,756 ) (22,478 ) Change in inventory — (3,679 ) — (3,679 ) Change in prepaid expenses (59 ) 341 — 282 Change in other current assets (2 ) (108 ) — (110 ) Change in long-term inventory and other assets — (4 ) — (4 ) Change in accounts payable, interest payable and accrued liabilities (13,321 ) (26,375 ) 45,756 6,060 Change in other current liabilities — 2,945 — 2,945 Net cash provided by operating activities 8,095 99,704 — 107,799 Cash flows from investing activities: Capital expenditures — (96,047 ) — (96,047 ) Derivative settlements — (7,960 ) — (7,960 ) Advances from joint interest partners — (759 ) — (759 ) Net cash used in investing activities — (104,766 ) — (104,766 ) Cash flows from financing activities: Proceeds from Oasis Credit Facility — 246,000 — 246,000 Principal payments on Oasis Credit Facility — (241,000 ) — (241,000 ) Purchases of treasury stock (5,419 ) — — (5,419 ) Investment in subsidiaries / capital contributions from parent (2,610 ) 2,610 — — Other (55 ) — — (55 ) Net cash provided by (used in) financing activities (8,084 ) 7,610 — (474 ) Increase in cash and cash equivalents 11 2,548 — 2,559 Cash and cash equivalents at beginning of period 166 11,060 — 11,226 Cash and cash equivalents at end of period $ 177 $ 13,608 $ — $ 13,785

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Exploration and Production [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 381,708	$ 264,884
Exploration and Production [Member] | Oil Production [Member]
Disaggregation of Revenue [Line Items]
Total revenues	323,386	208,595
Exploration and Production [Member] | Purchased Oil Sales [Member]
Disaggregation of Revenue [Line Items]
Total revenues	17,989	27,630
Exploration and Production [Member] | Natural Gas Production [Member]
Disaggregation of Revenue [Line Items]
Total revenues	26,961	19,535
Exploration and Production [Member] | Purchased Gas Sales [Member]
Disaggregation of Revenue [Line Items]
Total revenues	49	0
Exploration and Production [Member] | Natural Gas Liquid Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	13,323	9,124
Midstream Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	27,922	14,606
Midstream Services [Member] | Crude Oil and Natural Gas Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	18,029	8,551
Midstream Services [Member] | Water Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	9,893	6,055
Well Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	11,586	5,627
Well Services [Member] | Hydraulic Fracturing Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	10,426	5,156
Well Services [Member] | Equipment Rental Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,160	$ 471

Inventory- Schedule of Inventor

Inventory- Schedule of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory
Crude oil inventory	$ 10,390	$ 10,427
Equipment and materials	12,649	8,940
Total inventory	23,039	19,367
Long-term inventory
Linefill in third-party pipelines	12,506	12,200
Long-term inventory	12,506	12,200
Total	$ 35,545	$ 31,567

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 372,551	$ 365,153
Allowance for Doubtful Accounts Receivable, Current	(1,573)	(1,573)
Accounts Receivable, Net, Current	370,978	363,580
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	235,480	233,660
Joint Interest Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	91,817	73,588
Other Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 45,254	$ 57,905

Fair Value Measurements - Hiera

Fair Value Measurements - Hierarchy of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Total assets	$ 142	$ 495
Liabilities:
Total liabilities	169,356	135,567
Money market funds [Member]
Assets:
Total assets	142	142
Commodity derivative instruments [Member]
Assets:
Total assets		353
Liabilities:
Total liabilities	169,356	135,567
Level 1 [Member]
Assets:
Total assets	142	142
Liabilities:
Total liabilities	0	0
Level 1 [Member] | Money market funds [Member]
Assets:
Total assets	142	142
Level 1 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets		0
Liabilities:
Total liabilities	0	0
Level 2 [Member]
Assets:
Total assets	0	353
Liabilities:
Total liabilities	169,356	135,567
Level 2 [Member] | Money market funds [Member]
Assets:
Total assets	0	0
Level 2 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets		353
Liabilities:
Total liabilities	169,356	135,567
Level 3 [Member]
Assets:
Total assets	0	0
Liabilities:
Total liabilities	0	0
Level 3 [Member] | Money market funds [Member]
Assets:
Total assets	0	0
Level 3 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets		0
Liabilities:
Total liabilities	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Derivative credit risk valuation adjustment, derivative liabilities	$ 3.1	$ 2.8

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Outstanding Commodity Derivative Instruments (Details) $ in Thousands	1 Months Ended	3 Months Ended
	May 08, 2018MMBTU$ / bblbbl	Mar. 31, 2018USD ($)MMBTU$ / bbl$ / MMBTUbbl
Derivative [Line Items]
Fair value asset | $		$ (169,357)
Crude Oil [Member] | 2018 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl		11,029,000
Average swap price (in dollars per barrel)		51.92
Fair value asset | $		$ (125,062)
Crude Oil [Member] | 2018 Two-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl		825,000
Average floor price (in dollars per barrel)		48.67
Average ceiling price (in dollars per barrel)		53.07
Fair value asset | $		$ (8,649)
Crude Oil [Member] | 2019 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl		5,489,000
Average swap price (in dollars per barrel)		53.05
Fair value asset | $		$ (32,612)
Crude Oil [Member] | 2019 Two-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl		93,000
Average floor price (in dollars per barrel)		48.67
Average ceiling price (in dollars per barrel)		53.07
Fair value asset | $		$ (812)
Crude Oil [Member] | 2019 Three-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl		2,004,000
Average sub-floor price (in dollars per barrel)		40
Average floor price (in dollars per barrel)		50
Average ceiling price (in dollars per barrel)		65.99
Fair value asset | $		$ (2,217)
Crude Oil [Member] | 2020 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl		403,000
Average swap price (in dollars per barrel)		53.47
Fair value asset | $		$ (1,261)
Crude Oil [Member] | 2020 Three-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl		186,000
Average sub-floor price (in dollars per barrel)		40
Average floor price (in dollars per barrel)		50
Average ceiling price (in dollars per barrel)		65.99
Fair value asset | $		$ (113)
Natural Gas [Member] | 2018 Swaps [Member]
Derivative [Line Items]
Total notional amount of natural gas (in MMBtu) | MMBTU		6,325,000
Average swap price (in dollars per barrel) | $ / MMBTU		3.05
Fair value asset | $		$ 1,369
Subsequent Event [Member] | Crude Oil [Member] | 2018 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	826,000
Average floor price (in dollars per barrel)	56.79
Subsequent Event [Member] | Crude Oil [Member] | 2019 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	1,641,000
Subsequent Event [Member] | Crude Oil [Member] | 2020 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	124,000
Subsequent Event [Member] | Natural Gas [Member] | 2018 Swaps [Member]
Derivative [Line Items]
Average floor price (in dollars per barrel)	2.93
Subsequent Event [Member] | Natural Gas [Member] | 2018 Two-way Collars [Member]
Derivative [Line Items]
Total notional amount of natural gas (in MMBtu) | MMBTU	1,104,000
Subsequent Event [Member] | Natural Gas [Member] | 2019 Three-way Collars [Member]
Derivative [Line Items]
Total notional amount of natural gas (in MMBtu) | MMBTU	540,000

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gains and Losses from Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gain (loss) on derivative instruments	$ (71,116)	$ 56,075

Derivative Instruments - Sche46

Derivative Instruments - Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative asset, gross amounts recognized		$ 353
Derivative liability, gross amount recognized	$ 174,871	137,664
Derivative asset, gross amounts offset		0
Derivative liability, gross amounts offset	(5,515)	(2,097)
Derivative asset, net asset		353
Derivative liability, net liability	169,356	135,567
Commodity derivative instruments [Member] | Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, gross amounts recognized		344
Derivative asset, gross amounts offset		0
Derivative asset, net asset		344
Commodity derivative instruments [Member] | Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, gross amounts recognized		9
Derivative asset, gross amounts offset		0
Derivative asset, net asset		9
Commodity derivative instruments [Member] | Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, gross amount recognized	149,657	117,629
Derivative liability, gross amounts offset	0	(1,913)
Derivative liability, net liability	149,657	115,716
Commodity derivative instruments [Member] | Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, gross amount recognized	25,214	20,035
Derivative liability, gross amounts offset	(5,515)	(184)
Derivative liability, net liability	$ 19,699	$ 19,851

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Proved oil and gas properties	$ 7,484,783	$ 7,058,782
Less: Accumulated depreciation, depletion, amortization and impairment	(2,538,739)	(2,395,153)
Proved oil and gas properties, net	4,946,044	4,663,629
Unproved oil and gas properties	1,426,313	780,173
Other property and equipment	963,871	868,746
Less: Accumulated depreciation	(149,622)	(139,062)
Other property and equipment, net	814,249	729,684
Total property, plant and equipment, net	$ 7,186,606	$ 6,173,486

Property, Plant and Equipment P

Property, Plant and Equipment Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Proved Oil And Gas Properties [Member]
Business Acquisition [Line Items]
Estimate of future asset retirement costs	$ 42.7	$ 39.9

Acquisition - Additional Inform

Acquisition - Additional Information (Details) a in Thousands, $ in Thousands	Feb. 14, 2018USD ($)ashares	Mar. 31, 2018USD ($)
Business Acquisition [Line Items]
Aggregate cash consideration paid		$ 520,728
Permian Basin Acquisition [Member]
Business Acquisition [Line Items]
Net acres acquired | a	22
Cash	$ 549,770
Aggregate consideration paid in shares (shares) | shares	46,000,000
Actual total revenue of acquiree included in condensed financials		11,500
Actual operating income of acquiree included in condensed financials		3,400
Finite lived intangible asset	$ 1,000
Consideration paid to Forge Energy	$ 920,990
Noncompete Agreements [Member] | Permian Basin Acquisition [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible asset	1 year
Amortization of Intangible Assets		$ 42

Acquisition - Price Allocation

Acquisition - Price Allocation (Details) - USD ($) $ in Thousands	Feb. 14, 2018	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Common stock: 46,000,000 shares issued		$ 371,220	$ 0
Permian Basin Acquisition [Member]
Business Acquisition [Line Items]
Cash	$ 549,770
Common stock: 46,000,000 shares issued	371,220
Consideration paid to Forge Energy:	920,990
Proved developed properties	110,735
Proved undeveloped properties	167,170
Unproved lease acquisition costs	644,040
Inventory	293
Intangible assets	1,000
Asset retirement obligations	$ (2,248)

Acquisition - Pro-Forma Informa

Acquisition - Pro-Forma Information (Details) - Permian Basin Acquisition [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Revenues	$ 426,733	$ 290,082
Net income attributable to Oasis	$ 5,168	$ 27,922
Basic (in usd per share)	$ 0.02	$ 0.10
Diluted (in usd per share)	$ 0.02	$ 0.10

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Total long-term debt	$ 2,696,533	$ 2,097,606
Line of Credit [Member] | Revolving Credit Facility [Member] | Senior Secured Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Total principal of senior unsecured notes and revolving line of credit	626,000	70,000
Line of Credit [Member] | Revolving Credit Facility [Member] | OMP Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Total principal of senior unsecured notes and revolving line of credit	117,000	78,000
Senior Unsecured Debt [Member]
Debt Instrument [Line Items]
Total principal of senior unsecured notes and revolving line of credit	2,052,950	2,052,950
Less: unamortized deferred financing costs on senior unsecured notes	$ (21,646)	(22,956)
Senior Unsecured Debt [Member] | 7.25% senior unsecured notes due February 1, 2019 [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	7.25%
Total principal of senior unsecured notes and revolving line of credit	$ 54,275	54,275
Senior Unsecured Debt [Member] | 6.5% senior unsecured notes due November 1, 2021 [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	6.50%
Total principal of senior unsecured notes and revolving line of credit	$ 395,501	395,501
Senior Unsecured Debt [Member] | 6.875% senior unsecured notes due March 15, 2022 [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	6.875%
Total principal of senior unsecured notes and revolving line of credit	$ 937,080	937,080
Senior Unsecured Debt [Member] | 6.875% senior unsecured notes due January 15, 2023 [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	6.875%
Total principal of senior unsecured notes and revolving line of credit	$ 366,094	366,094
Senior Unsecured Debt [Member] | 2.625% senior convertible notes due September 15, 2023 [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	2.625%
Total principal of senior unsecured notes and revolving line of credit	$ 300,000	300,000
Less: unamortized debt discount on senior unsecured convertible notes	$ (77,771)	$ (80,388)	$ (93,200)

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018USD ($)day$ / shares	Apr. 30, 2018USD ($)	Apr. 19, 2018USD ($)	Feb. 26, 2018USD ($)	Dec. 31, 2017USD ($)	Apr. 10, 2017USD ($)	Sep. 30, 2016USD ($)
Debt Instrument [Line Items]
Total long-term debt	$ 2,696,533,000				$ 2,097,606,000
Ownership percentage, guarantors (as percent)	100.00%
Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt, fair value	$ 2,086,800,000
Amended Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity	710,000,000
Swingline Loan [Member] | The Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility borrowing base	10,000,000
Line of Credit [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, amount outstanding	14,000,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility amount	$ 2,500,000,000
Line of credit facility, current borrowing capacity				$ 1,350,000,000		$ 1,150,000,000
Weighted average interest rate (as percent)	3.60%
Line of Credit [Member] | Revolving Credit Facility [Member] | Senior Secured Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 626,000,000				70,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | OMP Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Long-term debt, gross	117,000,000				78,000,000
Credit facility borrowing base	200,000,000
Senior Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt issuance costs	21,646,000				22,956,000
Long-term debt, gross	2,052,950,000				2,052,950,000
Senior Unsecured Debt [Member] | Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Total long-term debt	2,053,000,000
Senior Unsecured Debt [Member] | Notes [Member]
Debt Instrument [Line Items]
Unsecured debt	$ 1,753,000,000
Senior Unsecured Debt [Member] | Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	6.50%
Senior Unsecured Debt [Member] | Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	7.25%
Senior Unsecured Debt [Member] | 7.25% senior unsecured notes due February 1, 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 54,275,000				54,275,000
Stated interest rate (as percent)	7.25%
Number of days required for unsecured noted to be retired or refinanced prior to maturity	90 days
Senior Unsecured Debt [Member] | 6.5% senior unsecured notes due November 1, 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 395,501,000				395,501,000
Stated interest rate (as percent)	6.50%
Senior Unsecured Debt [Member] | 6.875% senior unsecured notes due March 15, 2022 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 937,080,000				937,080,000
Stated interest rate (as percent)	6.875%
Senior Unsecured Debt [Member] | 6.875% senior unsecured notes due January 15, 2023 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 366,094,000				366,094,000
Stated interest rate (as percent)	6.875%
Senior Unsecured Debt [Member] | 2.625% senior convertible notes due September 15, 2023 [Member]
Debt Instrument [Line Items]
Debt discount	$ 77,771,000				80,388,000		$ 93,200,000
Long-term debt, gross	$ 300,000,000				$ 300,000,000
Stated interest rate (as percent)	2.625%
Debt issued	$ 300,000,000
Debt conversion rate per $1000 principal (in shares per $1000)	0.0763650
Debt conversion price (in dollars per share) | $ / shares	$ 13.10
Debt instrument effective interest rate (percent)							8.97%
Estimated fair value of debt							$ 206,800,000
Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.50%
Debt Conversion Scenario 1 [Member] | Senior Unsecured Debt [Member] | 2.625% senior convertible notes due September 15, 2023 [Member]
Debt Instrument [Line Items]
Number of trading days | day	20
Number of consecutive trading days | day	30
Stock price relative to conversion price (percent)	130.00%
Debt Conversion Scenario 2 [Member] | Senior Unsecured Debt [Member] | 2.625% senior convertible notes due September 15, 2023 [Member]
Debt Instrument [Line Items]
Number of trading days | day	5
Number of consecutive trading days | day	5
Stock price relative to product of sale price and conversion rate (percent)	98.00%
OMP Operating, LLC [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Credit facility borrowing base	$ 10,000,000
OMP Operating, LLC [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility borrowing base	200,000,000
Line of Credit Facility, Maximum Borrowing Capacity, Accordian Feature	$ 400,000,000
OMP Operating, LLC [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
OMP Operating, LLC [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.50%
OMP Operating, LLC [Member] | ABR Loans [Member] | Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Spread on variable rate	0.50%
OMP Operating, LLC [Member] | ABR Loans [Member] | Revolving Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Spread on variable rate	1.00%
OMP Operating, LLC [Member] | Eurodollar Loans [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Spread on variable rate	1.75%
OMP Operating, LLC [Member] | Eurodollar Loans [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Spread on variable rate	2.75%
OMP Operating, LLC [Member] | ABR Loans or Swingline Loans [Member] | Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Spread on variable rate	0.75%
OMP Operating, LLC [Member] | ABR Loans or Swingline Loans [Member] | Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Spread on variable rate	1.75%
OMP Operating, LLC [Member] | ABR Loans or Swingline Loans [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Spread on variable rate	0.75%
OMP Operating, LLC [Member] | ABR Loans or Swingline Loans [Member] | Revolving Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Spread on variable rate	1.75%
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility borrowing base			$ 1,600,000,000
Line of credit facility, current borrowing capacity			$ 1,350,000,000
Subsequent Event [Member] | Senior Unsecured Debt [Member] | Two Thousand Twenty Six Notes [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)		6.25%
Debt issued		$ 400,000,000

Asset Retirement Obligations -

Asset Retirement Obligations - Schedule of Changes in Asset Retirement Obligations (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
December 31, 2017	$ 48,799
Liabilities incurred during period	2,703
Liabilities settled during period	(1)
Accretion expense during period	665
Liabilities held for sale	84
March 31, 2018	$ 52,250

Asset Retirement Obligations 55

Asset Retirement Obligations - Additional Information (Details) $ in Millions	Mar. 31, 2018USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Total asset retirement obligations, current portion	$ 0.3

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective tax rate (as percent)	(18.20%)	40.20%
Valuation allowance on carryforwards	$ 3.3		$ 1.2
Increase in valuation allowance	$ 2.2

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	Oct. 19, 2017	Sep. 25, 2017$ / shares	Sep. 30, 2017shares	Mar. 31, 2018USD ($)day$ / sharesshares	Mar. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expenses				$ 6,754	$ 6,708
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Stock granted (in shares) | shares				2,865,780
Granted, weighted average grant date fair value per unit (in usd per share) | $ / shares				$ 9.58
Equity-based compensation expenses				$ 4,800	5,400
Performance Share Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares) | shares				854,400
Granted, weighted average grant date fair value per unit (in usd per share) | $ / shares				$ 12.71
Equity-based compensation expenses				$ 1,900	$ 1,300
Right to received shares of common stock (in shares) | shares				1
Number of trading days | day				30
Performance Share Unit Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU granted percentage of earnings (as a percent)				0.00%
Performance Share Unit Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU granted percentage of earnings (as a percent)				200.00%
Oasis Midstream Partners, LP [Member] | Phantom Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expenses				$ 100
Vesting period	3 years
OMP General Partner LLC [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted (in shares) | shares			12,200
Granted, weighted average grant date fair value per unit (in usd per share) | $ / shares		$ 16.50
Equity-based compensation expenses				$ 100
Vesting period		1 year

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Assumptions (Details) - Performance Share Units [Member] - $ / shares	3 Months Ended
	Mar. 31, 2018	Jan. 24, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Oasis stock price volatility (as percent)	72.88%
Oasis initial value (usd per share)	$ 8.82
Oasis stock price on date of grant (usd per share)		$ 9.27
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as percent)	2.08%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as percent)	2.31%

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Weighted-Average Number of Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Basic weighted average common shares outstanding (in shares)	290,105	233,068
Diluted weighted average common shares outstanding (in shares)	291,738	237,900
Stock Awards and PSUs [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilution effect of stock awards at end of period (in shares)	1,633	3,238
Convertible Debt [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilution effect of stock awards at end of period (in shares)	0	1,594

Earnings (Loss) Per Share - S60

Earnings (Loss) Per Share - Schedule of Common Shares Excluded from Diluted Earnings (Loss) per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Anti-dilutive stock-based compensation awards (in shares)	5,281	2,884

Business Segment Information -

Business Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018Segment
Segment Reporting [Abstract]
Number of current operating units	3

Business Segment Information 62

Business Segment Information - Summarized Financial Information of Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total revenues	$ 421,216	$ 285,116
Operating income	112,985	20,092
Other income (expense)	(108,445)	19,770
Income before income taxes	4,540	39,862
Property, plant and equipment, net	7,186,606		$ 6,173,486
Total assets	7,638,930		6,615,130
Exploration and Production [Member]
Segment Reporting Information [Line Items]
Total revenues	381,708	264,883
Midstream Services [Member]
Segment Reporting Information [Line Items]
Total revenues	64,562	37,641
Well Services [Member]
Segment Reporting Information [Line Items]
Total revenues	44,888	20,979
Operating Segments [Member] | Exploration and Production [Member]
Segment Reporting Information [Line Items]
Total revenues	381,708	264,883
Operating income	79,962	968
Other income (expense)	(108,146)	19,768
Income before income taxes	(28,184)	20,736
Property, plant and equipment, net	6,600,397		5,663,323
Total assets	6,994,927		6,050,255
Operating Segments [Member] | Midstream Services [Member]
Segment Reporting Information [Line Items]
Total revenues	27,922	14,606
Operating income	32,237	20,763
Other income (expense)	(258)	(2)
Income before income taxes	31,979	20,761
Property, plant and equipment, net	732,801		649,923
Total assets	752,301		663,614
Operating Segments [Member] | Well Services [Member]
Segment Reporting Information [Line Items]
Total revenues	11,586	5,627
Operating income	8,148	(3,592)
Other income (expense)	(41)	4
Income before income taxes	8,107	(3,588)
Property, plant and equipment, net	47,310		46,779
Total assets	50,605		52,800
Segment Reconciling Items [Member] | Exploration and Production [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0
Segment Reconciling Items [Member] | Midstream Services [Member]
Segment Reporting Information [Line Items]
Total revenues	36,640	23,035
Segment Reconciling Items [Member] | Well Services [Member]
Segment Reporting Information [Line Items]
Total revenues	33,302	15,352
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total revenues	(69,942)	(38,387)
Operating income	(7,362)	1,953
Other income (expense)	0	0
Income before income taxes	(7,362)	$ 1,953
Property, plant and equipment, net	(193,902)		(186,539)
Total assets	$ (158,903)		$ (151,539)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	Mar. 23, 2017USD ($)
Mirada Litigation [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of)	$ 100,000,000

Condensed Consolidating Finan64

Condensed Consolidating Financial Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership percentage, guarantors (as percent)	100.00%

Condensed Consolidating Finan65

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 17,735	$ 16,720	$ 13,785	$ 11,226
Accounts receivable, net	370,978	363,580
Accounts receivable - affiliates	0	0
Inventory	23,039	19,367
Prepaid expenses	5,954	7,631
Derivative instruments	0	344
Intangible assets, net	958	0
Other current assets	193	193
Total current assets	418,857	407,835
Property, plant and equipment
Oil and gas properties (successful efforts method)	8,911,096	7,838,955
Other property and equipment	963,871	868,746
Less: accumulated depreciation, depletion, amortization and impairment	(2,688,361)	(2,534,215)
Total property, plant and equipment, net	7,186,606	6,173,486
Investments in and advances to subsidiaries	0	0
Derivative instruments	0	9
Deferred income taxes	0	0
Long-term inventory	12,506	12,200
Other assets	20,961	21,600
Total assets	7,638,930	6,615,130
Current liabilities
Accounts payable	16,127	13,370
Accounts payable - affiliates	0	0
Revenues and production taxes payable	245,198	213,995
Accrued liabilities	233,422	236,480
Accrued interest payable	20,681	38,963
Derivative instruments	149,657	115,716
Advances from joint interest partners	4,888	4,916
Other current liabilities	40	40
Total current liabilities	670,013	623,480
Long-term debt	2,696,534	2,097,606
Deferred income taxes	306,749	305,921
Asset retirement obligations	51,955	48,511
Derivative instruments	19,699	19,851
Other liabilities	7,822	6,182
Total liabilities	3,752,772	3,101,551
Stockholders’ equity
Capital contributions from affiliates	0	0
Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding at March 31, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	3,154	2,668
Treasury stock, at cost: 2,021,805 and 1,331,548 shares at March 31, 2018 and December 31, 2017, respectively	(28,200)	(22,179)
Additional paid-in capital	3,055,003	2,677,217
Retained earnings	718,575	717,985
Oasis share of stockholders’ equity	3,748,532	3,375,691
Non-controlling interests	137,626	137,888
Total stockholders’ equity	3,886,158	3,513,579
Total liabilities and stockholders’ equity	7,638,930	6,615,130
Intercompany Eliminations [Member]
Current assets
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Accounts receivable - affiliates	(486,980)	(557,506)
Inventory	0	0
Prepaid expenses	0	0
Derivative instruments		0
Intangible assets, net	0
Other current assets	0	0
Total current assets	(486,980)	(557,506)
Property, plant and equipment
Oil and gas properties (successful efforts method)	(3,715)	(1,966)
Other property and equipment	0	0
Less: accumulated depreciation, depletion, amortization and impairment	0	0
Total property, plant and equipment, net	(3,715)	(1,966)
Investments in and advances to subsidiaries	(5,626,371)	(5,213,108)
Derivative instruments		0
Deferred income taxes	(191,671)	(183,568)
Long-term inventory	0	0
Other assets	0	0
Total assets	(6,308,737)	(5,956,148)
Current liabilities
Accounts payable	0	0
Accounts payable - affiliates	(486,980)	(557,506)
Revenues and production taxes payable	0	0
Accrued liabilities	0	0
Accrued interest payable	0	0
Derivative instruments	0	0
Advances from joint interest partners	0	0
Other current liabilities	0	0
Total current liabilities	(486,980)	(557,506)
Long-term debt	0	0
Deferred income taxes	(191,671)	(183,568)
Asset retirement obligations	0	0
Derivative instruments	0	0
Other liabilities	0	0
Total liabilities	(678,651)	(741,074)
Stockholders’ equity
Capital contributions from affiliates	(3,864,092)	(3,499,626)
Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding at March 31, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	0	0
Treasury stock, at cost: 2,021,805 and 1,331,548 shares at March 31, 2018 and December 31, 2017, respectively	0	0
Additional paid-in capital	(8,994)	(8,922)
Retained earnings	(1,436,730)	(1,393,080)
Oasis share of stockholders’ equity	(5,309,816)	(4,901,628)
Non-controlling interests	(320,270)	(313,446)
Total stockholders’ equity	(5,630,086)	(5,215,074)
Total liabilities and stockholders’ equity	(6,308,737)	(5,956,148)
Non-Guarantor Subsidiaries [Member]
Current assets
Cash and cash equivalents	4,048	883
Accounts receivable, net	977	834
Accounts receivable - affiliates	57,087	85,818
Inventory	0	0
Prepaid expenses	747	778
Derivative instruments		0
Intangible assets, net	0
Other current assets	0	0
Total current assets	62,859	88,313
Property, plant and equipment
Oil and gas properties (successful efforts method)	0	0
Other property and equipment	743,578	653,928
Less: accumulated depreciation, depletion, amortization and impairment	(40,696)	(34,348)
Total property, plant and equipment, net	702,882	619,580
Investments in and advances to subsidiaries	0	0
Derivative instruments		0
Deferred income taxes	0	0
Long-term inventory	0	0
Other assets	1,899	2,013
Total assets	767,640	709,906
Current liabilities
Accounts payable	593	0
Accounts payable - affiliates	15,533	11,638
Revenues and production taxes payable	0	0
Accrued liabilities	67,239	58,818
Accrued interest payable	73	114
Derivative instruments	0	0
Advances from joint interest partners	0	0
Other current liabilities	0	0
Total current liabilities	83,438	70,570
Long-term debt	117,000	78,000
Deferred income taxes	0	0
Asset retirement obligations	1,331	1,316
Derivative instruments	0	0
Other liabilities	0	0
Total liabilities	201,769	149,886
Stockholders’ equity
Capital contributions from affiliates	224,008	234,935
Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding at March 31, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	0	0
Treasury stock, at cost: 2,021,805 and 1,331,548 shares at March 31, 2018 and December 31, 2017, respectively	0	0
Additional paid-in capital	0	0
Retained earnings	21,593	11,639
Oasis share of stockholders’ equity	245,601	246,574
Non-controlling interests	320,270	313,446
Total stockholders’ equity	565,871	560,020
Total liabilities and stockholders’ equity	767,640	709,906
Parent/Issuer [Member]
Current assets
Cash and cash equivalents	179	178	177	166
Accounts receivable, net	0	0
Accounts receivable - affiliates	373,954	425,668
Inventory	0	0
Prepaid expenses	447	267
Derivative instruments		0
Intangible assets, net	0
Other current assets	0	0
Total current assets	374,580	426,113
Property, plant and equipment
Oil and gas properties (successful efforts method)	0	0
Other property and equipment	0	0
Less: accumulated depreciation, depletion, amortization and impairment	0	0
Total property, plant and equipment, net	0	0
Investments in and advances to subsidiaries	5,198,126	4,790,976
Derivative instruments		0
Deferred income taxes	191,671	183,568
Long-term inventory	0	0
Other assets	0	0
Total assets	5,764,377	5,400,657
Current liabilities
Accounts payable	0	0
Accounts payable - affiliates	40,406	34,382
Revenues and production taxes payable	0	0
Accrued liabilities	284	216
Accrued interest payable	19,872	38,796
Derivative instruments	0	0
Advances from joint interest partners	0	0
Other current liabilities	0	0
Total current liabilities	60,562	73,394
Long-term debt	1,953,534	1,949,606
Deferred income taxes	0	0
Asset retirement obligations	0	0
Derivative instruments	0	0
Other liabilities	0	0
Total liabilities	2,014,096	2,023,000
Stockholders’ equity
Capital contributions from affiliates	0	0
Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding at March 31, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	3,154	2,668
Treasury stock, at cost: 2,021,805 and 1,331,548 shares at March 31, 2018 and December 31, 2017, respectively	(28,200)	(22,179)
Additional paid-in capital	3,055,003	2,677,217
Retained earnings	720,324	719,951
Oasis share of stockholders’ equity	3,750,281	3,377,657
Non-controlling interests	0	0
Total stockholders’ equity	3,750,281	3,377,657
Total liabilities and stockholders’ equity	5,764,377	5,400,657
Combined Guarantor Subsidiaries [Member]
Current assets
Cash and cash equivalents	13,508	15,659	$ 13,608	$ 11,060
Accounts receivable, net	370,001	362,746
Accounts receivable - affiliates	55,939	46,020
Inventory	23,039	19,367
Prepaid expenses	4,760	6,586
Derivative instruments		344
Intangible assets, net	958
Other current assets	193	193
Total current assets	468,398	450,915
Property, plant and equipment
Oil and gas properties (successful efforts method)	8,914,811	7,840,921
Other property and equipment	220,293	214,818
Less: accumulated depreciation, depletion, amortization and impairment	(2,647,665)	(2,499,867)
Total property, plant and equipment, net	6,487,439	5,555,872
Investments in and advances to subsidiaries	428,245	422,132
Derivative instruments		9
Deferred income taxes	0	0
Long-term inventory	12,506	12,200
Other assets	19,062	19,587
Total assets	7,415,650	6,460,715
Current liabilities
Accounts payable	15,534	13,370
Accounts payable - affiliates	431,041	511,486
Revenues and production taxes payable	245,198	213,995
Accrued liabilities	165,899	177,446
Accrued interest payable	736	53
Derivative instruments	149,657	115,716
Advances from joint interest partners	4,888	4,916
Other current liabilities	40	40
Total current liabilities	1,012,993	1,037,022
Long-term debt	626,000	70,000
Deferred income taxes	498,420	489,489
Asset retirement obligations	50,624	47,195
Derivative instruments	19,699	19,851
Other liabilities	7,822	6,182
Total liabilities	2,215,558	1,669,739
Stockholders’ equity
Capital contributions from affiliates	3,640,084	3,264,691
Common stock, $0.01 par value: 450,000,000 shares authorized; 319,384,813 shares issued and 317,363,008 shares outstanding at March 31, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	0	0
Treasury stock, at cost: 2,021,805 and 1,331,548 shares at March 31, 2018 and December 31, 2017, respectively	0	0
Additional paid-in capital	8,994	8,922
Retained earnings	1,413,388	1,379,475
Oasis share of stockholders’ equity	5,062,466	4,653,088
Non-controlling interests	137,626	137,888
Total stockholders’ equity	5,200,092	4,790,976
Total liabilities and stockholders’ equity	$ 7,415,650	$ 6,460,715

Condensed Consolidating Finan66

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Balance Sheet - Additional Information (Details) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	319,384,813	270,627,014
Common stock, shares outstanding (in shares)	317,363,008	269,295,466
Treasury stock, shares (in shares)	2,021,805	1,331,548

Condensed Consolidating Finan67

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Oil and gas revenues	$ 363,671	$ 237,252
Purchased oil and gas sales	18,037	27,631
Midstream revenues	27,922	14,606
Well services revenues	11,586	5,627
Total revenues	421,216	285,116
Operating expenses
Lease operating expenses	44,781	43,872
Midstream operating expenses	7,985	3,327
Well services operating expenses	7,387	4,560
Marketing, transportation and gathering expenses	21,013	10,951
Purchased oil and gas expenses	17,998	28,002
Production taxes	31,000	20,299
Depreciation, depletion and amortization	149,265	126,666
Exploration expenses	769	1,489
Impairment	93	2,682
General and administrative expenses	27,940	23,176
Total operating expenses	308,231	265,024
Operating income	112,985	20,092
Other income (expense)
Equity In Earnings In Subsidiaries	0	0
Net gain (loss) on derivative instruments	(71,116)	56,075
Interest expense, net of capitalized interest	(37,146)	(36,321)
Other income (expense)	(183)	16
Total other income (expense)	(108,445)	19,770
Income before income taxes	4,540	39,862
Income tax benefit (expense)	(828)	(16,037)
Net income including non-controlling interests	3,712	23,825
Less: Net income attributable to non-controlling interests	3,122	0
Net income attributable to Oasis	590	23,825
Intercompany Eliminations [Member]
Revenues
Oil and gas revenues	0	0
Purchased oil and gas sales	0	0
Midstream revenues	(34,649)	0
Well services revenues	0	0
Total revenues	(34,649)	0
Operating expenses
Lease operating expenses	(10,918)	0
Midstream operating expenses	(9,877)	0
Well services operating expenses	0	0
Marketing, transportation and gathering expenses	(5,659)	0
Purchased oil and gas expenses	0	0
Production taxes	0	0
Depreciation, depletion and amortization	(3,326)	0
Exploration expenses	0	0
Impairment	0	0
General and administrative expenses	(3,120)	0
Total operating expenses	(32,900)	0
Operating income	(1,749)	0
Other income (expense)
Equity In Earnings In Subsidiaries	(63,693)	(49,103)
Net gain (loss) on derivative instruments	0	0
Interest expense, net of capitalized interest	0	0
Other income (expense)	0	0
Total other income (expense)	(63,693)	(49,103)
Income before income taxes	(65,442)	(49,103)
Income tax benefit (expense)	0	0
Net income including non-controlling interests	(65,442)	(49,103)
Less: Net income attributable to non-controlling interests	(21,574)
Net income attributable to Oasis	(43,868)	(49,103)
Parent/Issuer [Member]
Revenues
Oil and gas revenues	0	0
Purchased oil and gas sales	0	0
Midstream revenues	0	0
Well services revenues	0	0
Total revenues	0	0
Operating expenses
Lease operating expenses	0	0
Midstream operating expenses	0	0
Well services operating expenses	0	0
Marketing, transportation and gathering expenses	0	0
Purchased oil and gas expenses	0	0
Production taxes	0	0
Depreciation, depletion and amortization	0	0
Exploration expenses	0	0
Impairment	0	0
General and administrative expenses	7,232	7,065
Total operating expenses	7,232	7,065
Operating income	(7,232)	(7,065)
Other income (expense)
Equity In Earnings In Subsidiaries	32,164	49,103
Net gain (loss) on derivative instruments	0	0
Interest expense, net of capitalized interest	(32,446)	(32,851)
Other income (expense)	0	0
Total other income (expense)	(282)	16,252
Income before income taxes	(7,514)	9,187
Income tax benefit (expense)	8,104	14,638
Net income including non-controlling interests	590	23,825
Less: Net income attributable to non-controlling interests	0
Net income attributable to Oasis	590	23,825
Combined Guarantor Subsidiaries [Member]
Revenues
Oil and gas revenues	363,671	237,252
Purchased oil and gas sales	18,037	27,631
Midstream revenues	1,150	14,606
Well services revenues	11,586	5,627
Total revenues	394,444	285,116
Operating expenses
Lease operating expenses	55,699	43,872
Midstream operating expenses	746	3,327
Well services operating expenses	7,387	4,560
Marketing, transportation and gathering expenses	26,672	10,951
Purchased oil and gas expenses	17,998	28,002
Production taxes	31,000	20,299
Depreciation, depletion and amortization	146,227	126,666
Exploration expenses	769	1,489
Impairment	93	2,682
General and administrative expenses	17,678	16,111
Total operating expenses	304,269	257,959
Operating income	90,175	27,157
Other income (expense)
Equity In Earnings In Subsidiaries	31,529	0
Net gain (loss) on derivative instruments	(71,116)	56,075
Interest expense, net of capitalized interest	(4,438)	(3,470)
Other income (expense)	(183)	16
Total other income (expense)	(44,208)	52,621
Income before income taxes	45,967	79,778
Income tax benefit (expense)	(8,932)	(30,675)
Net income including non-controlling interests	37,035	49,103
Less: Net income attributable to non-controlling interests	3,122
Net income attributable to Oasis	33,913	$ 49,103
Non-Guarantor Subsidiaries [Member]
Revenues
Oil and gas revenues	0
Purchased oil and gas sales	0
Midstream revenues	61,421
Well services revenues	0
Total revenues	61,421
Operating expenses
Lease operating expenses	0
Midstream operating expenses	17,116
Well services operating expenses	0
Marketing, transportation and gathering expenses	0
Purchased oil and gas expenses	0
Production taxes	0
Depreciation, depletion and amortization	6,364
Exploration expenses	0
Impairment	0
General and administrative expenses	6,150
Total operating expenses	29,630
Operating income	31,791
Other income (expense)
Equity In Earnings In Subsidiaries	0
Net gain (loss) on derivative instruments	0
Interest expense, net of capitalized interest	(262)
Other income (expense)	0
Total other income (expense)	(262)
Income before income taxes	31,529
Income tax benefit (expense)	0
Net income including non-controlling interests	31,529
Less: Net income attributable to non-controlling interests	21,574
Net income attributable to Oasis	$ 9,955

Condensed Consolidating Finan68

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 3,712	$ 23,825
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	0	0
Depreciation, depletion and amortization	149,265	126,666
Impairment	93	2,682
Deferred income taxes	828	16,037
Derivative instruments	71,116	(56,075)
Equity-based compensation expenses	6,754	6,708
Deferred financing costs amortization and other	5,475	4,940
Working capital and other changes:
Change in accounts receivable	(5,708)	(22,478)
Change in inventory	(3,672)	(3,679)
Change in prepaid expenses	492	282
Change in other current assets	0	(110)
Change in long-term inventory and other assets	(315)	(4)
Change in accounts payable, interest payable and accrued liabilities	(244)	6,060
Change in other current liabilities	0	2,945
Change in other liabilities	563	0
Net cash provided by operating activities	228,359	107,799
Cash flows from investing activities:
Capital expenditures	(254,838)	(96,047)
Acquisitions	(520,728)
Derivative settlements	(36,974)	(7,960)
Advances from joint interest partners	(28)	(759)
Net cash used in investing activities	(812,568)	(104,766)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities	1,470,000	246,000
Principal payments on revolving credit facility	(875,000)	(241,000)
Deferred financing costs	(215)	0
Purchases of treasury stock	(6,021)	(5,419)
Distributions to non-controlling interests	(3,450)	0
Investment in / capital contributions from subsidiaries	0	0
Other	(90)	(55)
Net cash provided by (used in) financing activities	585,224	(474)
Increase in cash and cash equivalents	1,015	2,559
Beginning of period	16,720	11,226
End of period	17,735	13,785
Intercompany Eliminations [Member]
Cash flows from operating activities:
Net income	(65,442)	(49,103)
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	63,693	49,103
Depreciation, depletion and amortization	(3,326)	0
Impairment	0	0
Deferred income taxes	0	0
Derivative instruments	0	0
Equity-based compensation expenses	0	0
Deferred financing costs amortization and other	0	0
Working capital and other changes:
Change in accounts receivable	(70,526)	(45,756)
Change in inventory	0	0
Change in prepaid expenses	0	0
Change in other current assets		0
Change in long-term inventory and other assets	0	0
Change in accounts payable, interest payable and accrued liabilities	70,526	45,756
Change in other current liabilities		0
Change in other liabilities	0
Net cash provided by operating activities	(5,075)	0
Cash flows from investing activities:
Capital expenditures	0	0
Acquisitions	0
Derivative settlements	0	0
Advances from joint interest partners	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities	0	0
Principal payments on revolving credit facility	0	0
Deferred financing costs	0
Purchases of treasury stock	0	0
Distributions to non-controlling interests	0
Investment in / capital contributions from subsidiaries	5,075	0
Other	0	0
Net cash provided by (used in) financing activities	5,075	0
Increase in cash and cash equivalents	0	0
Beginning of period	0	0
End of period	0	0
Parent/Issuer [Member]
Cash flows from operating activities:
Net income	590	23,825
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	(32,164)	(49,103)
Depreciation, depletion and amortization	0	0
Impairment	0	0
Deferred income taxes	(8,104)	(14,638)
Derivative instruments	0	0
Equity-based compensation expenses	6,418	6,498
Deferred financing costs amortization and other	3,929	3,665
Working capital and other changes:
Change in accounts receivable	51,714	51,230
Change in inventory	0	0
Change in prepaid expenses	(180)	(59)
Change in other current assets		(2)
Change in long-term inventory and other assets	0	0
Change in accounts payable, interest payable and accrued liabilities	(12,832)	(13,321)
Change in other current liabilities		0
Change in other liabilities	0
Net cash provided by operating activities	9,371	8,095
Cash flows from investing activities:
Capital expenditures	0	0
Acquisitions	0
Derivative settlements	0	0
Advances from joint interest partners	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities	0	0
Principal payments on revolving credit facility	0	0
Deferred financing costs	0
Purchases of treasury stock	(6,021)	(5,419)
Distributions to non-controlling interests	0
Investment in / capital contributions from subsidiaries	(3,259)	(2,610)
Other	(90)	(55)
Net cash provided by (used in) financing activities	(9,370)	(8,084)
Increase in cash and cash equivalents	1	11
Beginning of period	178	166
End of period	179	177
Combined Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income	37,035	49,103
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	(31,529)	0
Depreciation, depletion and amortization	146,227	126,666
Impairment	93	2,682
Deferred income taxes	8,932	30,675
Derivative instruments	71,116	(56,075)
Equity-based compensation expenses	273	210
Deferred financing costs amortization and other	1,432	1,275
Working capital and other changes:
Change in accounts receivable	(23,888)	(27,952)
Change in inventory	(3,672)	(3,679)
Change in prepaid expenses	641	341
Change in other current assets		(108)
Change in long-term inventory and other assets	(315)	(4)
Change in accounts payable, interest payable and accrued liabilities	(66,000)	(26,375)
Change in other current liabilities		2,945
Change in other liabilities	563
Net cash provided by operating activities	140,908	99,704
Cash flows from investing activities:
Capital expenditures	(169,994)	(96,047)
Acquisitions	(520,728)
Derivative settlements	(36,974)	(7,960)
Advances from joint interest partners	(28)	(759)
Net cash used in investing activities	(727,724)	(104,766)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities	1,413,000	246,000
Principal payments on revolving credit facility	(857,000)	(241,000)
Deferred financing costs	(215)
Purchases of treasury stock	0	0
Distributions to non-controlling interests	34,866
Investment in / capital contributions from subsidiaries	(5,986)	2,610
Other	0	0
Net cash provided by (used in) financing activities	584,665	7,610
Increase in cash and cash equivalents	(2,151)	2,548
Beginning of period	15,659	11,060
End of period	13,508	$ 13,608
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income	31,529
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	0
Depreciation, depletion and amortization	6,364
Impairment	0
Deferred income taxes	0
Derivative instruments	0
Equity-based compensation expenses	63
Deferred financing costs amortization and other	114
Working capital and other changes:
Change in accounts receivable	36,992
Change in inventory	0
Change in prepaid expenses	31
Change in long-term inventory and other assets	0
Change in accounts payable, interest payable and accrued liabilities	8,062
Change in other liabilities	0
Net cash provided by operating activities	83,155
Cash flows from investing activities:
Capital expenditures	(84,844)
Acquisitions	0
Derivative settlements	0
Advances from joint interest partners	0
Net cash used in investing activities	(84,844)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities	57,000
Principal payments on revolving credit facility	(18,000)
Deferred financing costs	0
Purchases of treasury stock	0
Distributions to non-controlling interests	(38,316)
Investment in / capital contributions from subsidiaries	4,170
Other	0
Net cash provided by (used in) financing activities	4,854
Increase in cash and cash equivalents	3,165
Beginning of period	883
End of period	$ 4,048