Chord Energy (CHRD) 10-Q 7 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
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		317,995,747

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 17,072	$ 16,720
Accounts receivable, net	378,080	363,580
Inventory	23,222	19,367
Prepaid expenses	5,874	7,631
Derivative instruments	0	344
Intangible assets, net	625	0
Other current assets	82	193
Total current assets	424,955	407,835
Property, plant and equipment
Oil and gas properties (successful efforts method)	8,424,834	7,838,955
Other property and equipment	1,024,104	868,746
Less: accumulated depreciation, depletion, amortization and impairment	(2,691,697)	(2,534,215)
Total property, plant and equipment, net	6,757,241	6,173,486
Assets held for sale, net	250,118	0
Derivative instruments	25	9
Long-term inventory	12,505	12,200
Other assets	20,491	21,600
Total assets	7,465,335	6,615,130
Current liabilities
Accounts payable	29,988	13,370
Revenues and production taxes payable	246,215	213,995
Accrued liabilities	320,508	236,480
Accrued interest payable	36,971	38,963
Derivative instruments	194,810	115,716
Advances from joint interest partners	3,983	4,916
Other current liabilities	40	40
Total current liabilities	832,515	623,480
Long-term debt	2,757,481	2,097,606
Deferred income taxes	205,628	305,921
Asset retirement obligations	49,743	48,511
Liabilities held for sale	4,181	0
Derivative instruments	35,007	19,851
Other liabilities	6,529	6,182
Total liabilities	3,891,084	3,101,551
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,534 shares issued and 317,985,056 shares outstanding at June 30, 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: 2,025,478 and 1,331,548 shares at June 30, 2018 and December 31, 2017, respectively	(28,243)	(22,179)
Additional paid-in capital	3,062,861	2,677,217
Retained earnings	398,371	717,985
Oasis share of stockholders’ equity	3,436,143	3,375,691
Non-controlling interests	138,108	137,888
Total stockholders’ equity	3,574,251	3,513,579
Total liabilities and stockholders’ equity	$ 7,465,335	$ 6,615,130

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 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)	320,010,534	270,627,014
Common stock, shares outstanding (in shares)	317,985,056	269,295,466
Treasury stock, shares (in shares)	2,025,478	1,331,548

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues
Total revenues	$ 501,337	$ 254,091	$ 922,553	$ 539,207
Operating expenses
Lease operating expenses	44,141	44,665	88,922	88,537
Marketing, transportation and gathering expenses	22,833	12,039	43,846	22,990
Production taxes	34,026	18,971	65,026	39,270
Depreciation, depletion and amortization	153,570	125,291	302,835	251,957
Exploration expenses	617	1,667	1,386	3,156
Impairment	384,135	3,200	384,228	5,882
General and administrative expenses	28,230	22,626	56,170	45,802
Total operating expenses	745,965	248,712	1,054,196	513,736
Gain on sale of properties	1,954	0	1,954	0
Operating income (loss)	(242,674)	5,379	(129,689)	25,471
Other income (expense)
Net gain (loss) on derivative instruments	(120,285)	50,532	(191,401)	106,607
Interest expense, net of capitalized interest	(40,910)	(36,838)	(78,056)	(73,159)
Loss on extinguishment of debt	(13,651)	0	(13,651)	0
Other income (expense)	218	(166)	35	(150)
Total other income (expense)	(174,628)	13,528	(283,073)	33,298
Income (loss) before income taxes	(417,302)	18,907	(412,762)	58,769
Income tax benefit (expense)	101,001	(2,339)	100,173	(18,376)
Net income (loss) including non-controlling interests	(316,301)	16,568	(312,589)	40,393
Less: Net income attributable to non-controlling interests	3,903	0	7,025	0
Net income (loss) attributable to Oasis	$ (320,204)	$ 16,568	$ (319,614)	$ 40,393
Earnings (loss) attributable to Oasis per share:
Basic (in dollars per share)	$ (1.02)	$ 0.07	$ (1.06)	$ 0.17
Diluted (in dollars per share)	$ (1.02)	$ 0.07	$ (1.06)	$ 0.17
Weighted average shares outstanding:
Basic (in shares)	313,072	233,283	301,652	233,176
Diluted (in shares)	313,072	234,917	301,652	236,281
Oil and Gas [Member]
Revenues
Total revenues	$ 395,921	$ 218,633	$ 759,592	$ 455,885
Purchased Oil and Gas Sales [Member]
Revenues
Total revenues	57,578	8,091	75,615	35,722
Operating expenses
Expenses	57,165	7,980	75,163	35,982
Midstream Services [Member]
Revenues
Total revenues	29,342	15,566	57,264	30,172
Operating expenses
Expenses	7,688	3,263	15,673	6,590
Well Services [Member]
Revenues
Total revenues	18,496	11,801	30,082	17,428
Operating expenses
Expenses	$ 13,560	$ 9,010	$ 20,947	$ 13,570

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 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
Other fees (2017 issuance of common stock and Oasis Midstream common units) (shares)		0
Other (2017 issuance of common stock and Oasis Midstream common units)	(87)	$ 0		38		(125)
Equity-based compensation (shares)		3,383
Equity-based compensation	15,038	$ 26		14,846		166
Distributions to non-controlling interest owners	(6,846)					(6,846)
Treasury stock - tax withholdings (shares)		693	693
Treasury stock - tax withholdings	(6,064)		$ (6,064)			0
Net income (loss)	(312,589)				(319,614)	7,025
Balance (shares) at Jun. 30, 2018		317,985	2,025
Balance at Jun. 30, 2018	$ 3,574,251	$ 3,154	$ (28,243)	$ 3,062,861	$ 398,371	$ 138,108

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income (loss) including non-controlling interests	$ (312,589)	$ 40,393
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by operating activities:
Depreciation, depletion and amortization	302,835	251,957
Loss on extinguishment of debt	13,651	0
Gain on sale of properties	(1,954)	0
Impairment	384,228	5,882
Deferred income taxes	(100,293)	18,376
Derivative instruments	191,401	(106,607)
Equity-based compensation expenses	14,130	13,823
Deferred financing costs amortization and other	10,518	8,871
Working capital and other changes:
Change in accounts receivable, net	(5,866)	(13,743)
Change in inventory	(4,721)	(1,007)
Change in prepaid expenses	573	(264)
Change in other current assets	111	280
Change in long-term inventory and other assets	(381)	(8,768)
Change in accounts payable, interest payable and accrued liabilities	40,849	11,158
Change in other current liabilities	0	(10,490)
Change in other liabilities	(476)	0
Net cash provided by operating activities	532,016	209,861
Cash flows from investing activities:
Capital expenditures	(536,959)	(252,461)
Acquisitions	(524,255)	0
Proceeds from sale of properties	2,236	4,000
Derivative settlements	(96,823)	(8,899)
Advances from joint interest partners	(933)	(1,781)
Net cash used in investing activities	(1,156,734)	(259,141)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities	1,933,000	484,000
Principal payments on Revolving Credit Facilities	(1,265,000)	(429,000)
Repurchase of senior unsecured notes	(423,143)	0
Proceeds from issuance of senior unsecured notes	400,000	0
Deferred financing costs	(6,790)	0
Purchases of treasury stock	(6,064)	(5,451)
Distributions to non-controlling interests	(6,846)	0
Other	(87)	(55)
Net cash provided by financing activities	625,070	49,494
Increase in cash and cash equivalents	352	214
Cash and cash equivalents:
Beginning of period	16,720	11,226
End of period	17,072	11,440
Supplemental non-cash transactions:
Change in accrued capital expenditures	90,040	19,017
Change in asset retirement obligations	5,407	1,759
Issuance of shares in connection with the Permian Basin Acquisition	371,220	0
Installment notes from acquisition	$ 0	$ 4,875

Organization and Operations of

Organization and Operations of the Company	6 Months Ended
	Jun. 30, 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 services 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	6 Months Ended
	Jun. 30, 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 June 30, 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 instruments. 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 June 30, 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 prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of June 30, 2018 . Income taxes. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2016-16, Intra-Entity Transfers of Assets Other Than Inventory (“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 prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of June 30, 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 June 30, 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 prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of June 30, 2018 . Recent Accounting Pronouncements Leases. 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. This standard does not apply to leases to explore for or use minerals, oil or natural gas resources, including the right to explore for those natural resources. 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 , 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 13 – Income Taxes .

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 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 natural gas liquids (“NGL”) sales, as described below. Generally, for the majority of these contracts: (i) each unit (barrel (“bbl”), 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. Purchased oil and gas sales. The Company purchases and sells crude oil and natural gas at various delivery points to a variety of customers under short-term contracts that include specified quantities of crude oil and natural gas to be sold and delivered to the customer at a specified delivery point. The Company purchases and sells crude oil and natural gas to different counterparties at market-based prices. Market-based pricing is based on the price index applicable for the location of the sale. The Company accounts for these transactions on a gross basis. 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 and six months ended June 30, 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 and six months ended June 30, 2018 and 2017 : Exploration and Production Revenues Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Oil revenues $ 361,254 $ 194,005 $ 684,640 $ 402,599 Purchased oil sales 53,707 7,905 71,695 35,536 Natural gas revenues 23,059 15,119 50,021 34,652 Purchased gas sales 496 186 545 186 NGL revenues 11,608 9,509 24,931 18,634 Total exploration and production revenues $ 450,124 $ 226,724 $ 831,832 $ 491,607 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. Purchased oil sales. The Company purchases and sells crude oil at various delivery points on crude oil gathering systems to a variety of customers under short-term contracts that include a specified quantity of crude oil to be sold and delivered to the customer at a specified delivery point. The Company purchases and sells the crude oil to different counterparties at market-based prices. Market-based pricing is based on the price index applicable for the location of the sale. The Company accounts for these transactions on a gross basis. 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 and six months ended June 30, 2018 and 2017 : Midstream Revenues (1) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Crude oil and natural gas revenues $ 17,907 $ 3,187 $ 35,936 $ 11,739 Purchased oil sales 3,375 — 3,375 — Water revenues 11,435 12,379 21,328 18,433 Total midstream revenues $ 32,717 $ 15,566 $ 60,639 $ 30,172 __________________ (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 and six months ended June 30, 2018 and 2017 : Well Services Revenues (1) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Hydraulic fracturing service revenues $ 17,390 $ 11,057 $ 27,816 $ 16,213 Equipment rental revenues 1,106 744 2,266 1,215 Total well services revenues $ 18,496 $ 11,801 $ 30,082 $ 17,428 __________________ (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	6 Months Ended
	Jun. 30, 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: June 30, 2018 December 31, 2017 (In thousands) Inventory Crude oil inventory $ 7,000 $ 10,427 Equipment and materials 16,222 8,940 Total inventory $ 23,222 $ 19,367 Long-term inventory Linefill in third-party pipelines $ 12,505 $ 12,200 Long-term inventory $ 12,505 $ 12,200 Total $ 35,727 $ 31,567

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net The following table sets forth the Company’s accounts receivable, net: June 30, 2018 December 31, 2017 (In thousands) Accounts receivable, net Trade accounts $ 250,740 $ 233,660 Joint interest accounts 79,304 73,588 Other accounts 48,982 57,905 Total 379,026 365,153 Allowance for doubtful accounts (946 ) (1,573 ) Total accounts receivable, net $ 378,080 $ 363,580

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 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 June 30, 2018 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds $ 143 $ — $ — $ 143 Commodity derivative instruments (see Note 7) — 25 — 25 Total assets $ 143 $ 25 $ — $ 168 Liabilities: Commodity derivative instruments (see Note 7) $ — $ 229,817 $ — $ 229,817 Total liabilities $ — $ 229,817 $ — $ 229,817 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 June 30, 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 $3.5 million at June 30, 2018 and by $2.8 million at December 31, 2017 . There were no transfers between fair value levels during the six months ended June 30, 2018 and December 31, 2017 .

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 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 contracts will settle monthly based on the average NYMEX West Texas Intermediate crude oil index price (“ NYMEX WTI ”) and the average Intercontinental Exchange, Inc. Brent crude oil index price (“ ICE Brent ”). The Company’s natural gas contracts will settle monthly based on the average NYMEX Henry Hub natural gas index price (“ NYMEX HH ”). At June 30, 2018 , the Company utilized fixed price swaps, basis swaps and two-way and three-way costless collars to reduce the price volatility associated with certain of its of oil and natural gas sales. The Company’s fixed price swaps are comprised of 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 basis swap transaction has an established fixed basis differential corresponding to two floating index prices. Depending on the difference of the two floating index prices in relation to the fixed basis differential, the Company either receives an amount from its counterparty, or pays an amount to its counterparty, equal to the difference multiplied by the hedged contract volume. 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 June 30, 2018 , the Company had the following outstanding commodity derivative instruments: Commodity Settlement Derivative Index Volumes Weighted Average Prices Fair Value Fixed Price Swaps Basis Swaps Sub-Floor Floor Ceiling (In thousands) Crude oil 2018 Fixed price swaps NYMEX WTI 7,745,000 Bbl $ 53.02 $ (133,352 ) Crude oil 2018 Basis swaps NYMEX WTI-ICE BRENT 153,000 Bbl $ (10.50 ) 471 Crude oil 2018 Two-way collar NYMEX WTI 549,000 Bbl $ 48.67 $ 53.07 (9,479 ) Crude oil 2019 Fixed price swaps NYMEX WTI 5,613,000 Bbl $ 53.33 (69,121 ) Crude oil 2019 Basis swaps NYMEX WTI-ICE BRENT 212,000 Bbl $ (10.50 ) 353 Crude oil 2019 Two-way collar NYMEX WTI 761,000 Bbl $ 52.03 $ 69.03 (2,500 ) Crude oil 2019 Three-way collar NYMEX WTI 3,368,000 Bbl $ 40.54 $ 51.03 $ 68.68 (12,060 ) Crude oil 2020 Fixed price swaps NYMEX WTI 403,000 Bbl $ 53.47 (3,557 ) Crude oil 2020 Two-way collar NYMEX WTI 62,000 Bbl $ 52.50 $ 71.25 (30 ) Crude oil 2020 Three-way collar NYMEX WTI 279,000 Bbl $ 40.00 $ 50.56 $ 67.80 (876 ) Natural gas 2018 Fixed price swaps NYMEX HH 6,440,000 MMbtu $ 3.02 403 Natural gas 2019 Fixed price swaps NYMEX HH 1,353,000 MMbtu $ 2.96 (44 ) $ (229,792 ) In July 2018, the Company entered into new natural gas basis swap contracts with weighted average differential prices, which represent a reduction of $0.06 per MMbtu. These basis swaps are settled based on the differential between Northern Natural Gas Ventura natural gas index price and NYMEX HH . The basis swap contracts include total notional amounts of 1,220,000 MMbtu and 1,810,000 MMbtu, which settle in 2018 and 2019 , respectively. 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 June 30, Six Months Ended June 30, Statements of Operations Location 2018 2017 2018 2017 (In thousands) Net gain (loss) on derivative instruments $ (120,285 ) $ 50,532 $ (191,401 ) $ 106,607 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: June 30, 2018 Commodity Balance Sheet Location Gross Recognized Asset/Liabilities Gross Amount Offset Net Recognized Fair Value Asset/Liabilities (In thousands) Derivatives assets: Commodity contracts Derivative instruments — non-current assets $ 25 $ — $ 25 Total derivatives assets $ 25 $ — $ 25 Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 198,306 $ (3,496 ) $ 194,810 Commodity contracts Derivative instruments — non-current liabilities 40,661 (5,654 ) 35,007 Total derivatives liabilities $ 238,967 $ (9,150 ) $ 229,817 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	6 Months Ended
	Jun. 30, 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: June 30, 2018 December 31, 2017 (In thousands) Proved oil and gas properties (1) $ 7,340,228 $ 7,058,782 Less: Accumulated depreciation, depletion, amortization and impairment (2,532,668 ) (2,395,153 ) Proved oil and gas properties, net 4,807,560 4,663,629 Unproved oil and gas properties 1,084,606 780,173 Other property and equipment 1,024,104 868,746 Less: Accumulated depreciation (159,029 ) (139,062 ) Other property and equipment, net 865,075 729,684 Total property, plant and equipment, net $ 6,757,241 $ 6,173,486 __________________ (1) Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $44.0 million and $39.9 million at June 30, 2018 and December 31, 2017 , respectively.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 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 recognized. 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 was finalized in July 2018, subsequent to the second 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 $20.0 million and $31.6 million of total revenue and $6.8 million and $10.2 million of operating income for the three and six months ended June 30, 2018 , respectively. The Company also recorded a $1.0 million finite-lived intangible asset on the Company’s Condensed Consolidated Balance Sheets 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 and six months ended June 30, 2018 , amortization expense recognized for this non-compete agreement was approximately $0.3 million and $0.4 million , respectively. Summarized below are the consolidated results of operations for the three and six months ended June 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) (In thousands) Unaudited Unaudited Revenues $ 501,337 $ 262,991 $ 928,082 $ 553,073 Net income attributable to Oasis (320,204 ) 23,877 (315,073 ) 51,785 Net income attributable to Oasis per share: Basic $ (1.02 ) $ 0.09 $ (1.01 ) $ 0.19 Diluted (1.02 ) 0.08 (1.00 ) 0.18

Divestitures and Assets Held fo

Divestitures and Assets Held for Sale	6 Months Ended
	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Divestitures and Assets Held for Sale	Divestitures and Assets Held for Sale On June 25, 2018 , the Company announced the signing of two separate purchase and sale agreements to sell certain non-core assets in the Williston Basin for total cash proceeds of $282.5 million . The assets to be divested consisted of certain non-operated oil and gas properties in the Williston Basin (the “ Williston Non-Op Divestiture ”) and oil and gas properties primarily located in the Foreman Butte area of the Williston Basin (the “ Foreman Butte Divestiture ,” and, together with the Williston Non-Op Divestiture , the “ 2018 Divestitures ”). Assets and liabilities held for sale represent the assets that are expected to be sold and the liabilities that are expected to be assumed by the purchaser, respectively. As of June 30, 2018 , the assets and liabilities expected to be sold in the 2018 Divestitures were classified as held for sale. The assets and liabilities held for sale are primarily in the Company’s exploration and production segment with certain assets and liabilities held for sale included in the Foreman Butte Divestiture in the Company’s midstream segment. The Company did not have any assets or liabilities classified as held for sale as of December 31, 2017 . Williston Non-Op Divestiture . On July 10, 2018 , the Company completed the initial closing for the Williston Non-Op Divestiture . The transaction had an effective date of March 1, 2018 , and the final closing statement will be completed in the fourth quarter of 2018. Upon the initial closing, the Company recognized a $33.2 million net gain on sale of properties, which is subject to customary closing adjustments, subsequent to the quarter ended June 30, 2018 . The following table presents balance sheet data related to the assets and liabilities held for sale related to the Williston Non-Op Divestiture as of June 30, 2018 : June 30, 2018 (in thousands) Assets: Accounts receivable, net $ 273 Oil and gas properties (successful efforts method) 179,921 Less: accumulated depreciation, depletion, amortization and impairment (61,652 ) Total assets held for sale, net $ 118,542 Liabilities: Asset retirement obligations 1,605 Total liabilities held for sale $ 1,605 Foreman Butte Divestiture . In July 2018, the Company completed the initial closing for the Foreman Butte Divestiture . The transaction had an effective date of March 1, 2018 , and the final closing statement will be completed in the first quarter of 2019. During the second quarter of 2018, the Company recorded an impairment loss of $383.4 million , which was included in impairment on the Company’s Condensed Consolidated Statements of Operations, to adjust the carrying value of these assets to their estimated fair value, determined based on the expected sales price as negotiated with the purchaser, less costs to sell. There were no similar impairment charges related to these assets recorded during the three and six months ended June 30, 2017 . The following table presents balance sheet data related to the assets and liabilities held for sale related to the Foreman Butte Divestiture , including the write down for impairment loss, as of June 30, 2018 : June 30, 2018 (in thousands) Assets: Accounts receivable, net $ 601 Inventory 866 Oil and gas properties (successful efforts method) 336,604 Other property and equipment 11,865 Less: accumulated depreciation, depletion, amortization and impairment (218,360 ) Total assets held for sale, net $ 131,576 Liabilities: Asset retirement obligations 2,576 Total liabilities held for sale $ 2,576 Subsequent event . On July 2018 , the Company signed a purchase and sale agreement to sell certain additional non-strategic operated assets in the Williston Basin for cash proceeds of $55.0 million . Upon signing the purchase and sale agreement, the Company recorded the related assets and liabilities as held for sale, which had a net book value of $33.9 million and $0.4 million , respectively. The transaction had an effective date of March 1, 2018 , and the final closing statement will be completed in the first quarter of 2019. As of June 30, 2018 , there was no impact to the Company’s condensed consolidated financial statements for this subsequent event.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consists of the following: June 30, 2018 December 31, 2017 (In thousands) Oasis Credit Facility $ 651,000 $ 70,000 OMP Credit Facility 165,000 78,000 Senior unsecured notes 7.25% senior unsecured notes due February 1, 2019 — 54,275 6.50% senior unsecured notes due November 1, 2021 71,835 395,501 6.875% senior unsecured notes due March 15, 2022 901,480 937,080 6.875% senior unsecured notes due January 15, 2023 366,094 366,094 6.25% senior unsecured notes due May 1, 2026 400,000 — 2.625% senior unsecured convertible notes due September 15, 2023 300,000 300,000 Total principal of senior unsecured notes 2,039,409 2,052,950 Less: unamortized deferred financing costs on senior unsecured notes (22,889 ) (22,956 ) Less: unamortized debt discount on senior unsecured convertible notes (75,039 ) (80,388 ) Total long-term debt $ 2,757,481 $ 2,097,606 The carrying amount of the Company’s long-term debt reported in the Condensed Consolidated Balance Sheet at June 30, 2018 was $2,757.5 million , which included $2,039.4 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 $75.0 million and $22.9 million , respectively, $651.0 million of borrowings under the Oasis Credit Facility and $165.0 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 $2,156.0 million at June 30, 2018 . 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 June 30, 2018 , which has a maturity date of 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 June 30, 2018 , the Company had $651.0 million of London Interbank Offered Rate (“LIBOR”) loans at a weighted average interest rate of 3.8% and $14.0 million of outstanding letters of credit issued under the Oasis Credit Facility , resulting in an unused borrowing base committed capacity of $685.0 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 June 30, 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 June 30, 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 June 30, 2018 , the Company had $165.0 million of borrowings outstanding under the OMP Credit Facility . As of June 30, 2018 , the weighted average interest rate on borrowings under the OMP Credit Facility was 3.8% . Senior unsecured notes. On May 14, 2018 , the Company completed its offering of $400.0 million in aggregate principal amount of its 6.25% senior unsecured notes due 2026 (the “2026 Notes”). The Company used the net proceeds of $394.4 million from the 2026 Notes to fund the repurchase of certain outstanding senior notes (the “ Tender Offers ”), as described below. At June 30, 2018 , the Company had $1,739.4 million principal amount of senior unsecured notes outstanding with maturities ranging from November 2021 to May 2026 and coupons ranging from 6.25% to 6.875% (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. On May 25, 2018 , the Company completed the Tender Offers and, as a result of the Tender Offers , the Company repurchased an aggregate principal amount of $390.6 million of its outstanding Senior Notes, consisting of $31.3 million principal amount of its 7.25% senior unsecured notes due 2019 (the “2019 Notes”), $323.7 million principal amount of its 6.50% senior unsecured notes due 2021 and $35.6 million principal amount of its 6.875% senior unsecured notes due 2022 , for an aggregate cost of $402.0 million , including accrued interest and fees. On May 29, 2018 , the Company paid $23.0 million to redeem all of the remaining outstanding 2019 Notes, which payment consisted of the 100% redemption price plus all accrued and unpaid interest on the 2019 Notes. The Company financed the redemption with borrowings under the Oasis Credit Facility . As a result of the Tender Offers and the redemption, the Company recognized a pre-tax loss of $13.7 million , which was net of unamortized deferred financing costs write-offs of $4.0 million , and is reflected in loss on extinguishment of debt in the Company’s Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018 . As of June 30, 2018 , no 2019 Notes remained outstanding. Senior unsecured convertible notes. At June 30, 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 June 30, 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	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2018 : (In thousands) Balance at December 31, 2017 $ 48,799 Liabilities incurred during period 4,008 Liabilities settled during period (1 ) Accretion expense during period (1) 1,314 Revisions to estimates 84 Liabilities held for sale (2) (4,167 ) Balance at June 30, 2018 $ 50,037 ___________________ (1) Included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. (2) Represents ARO related to the properties held for sale as of June 30, 2018 (see N ote 10 - Divestitures and Assets Held for Sale ). At June 30, 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 Sheets.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three and six months ended June 30, 2018 was 24.2% and 24.3% , respectively, as compared to an effective tax rate of 12.4% and 31.3% for the three and six months ended June 30, 2017 , respectively. The effective tax rate for the three and six months ended June 30, 2018 was higher than the statutory federal rate of 21% primarily due to state income taxes. The effective tax rate for the three and six months ended June 30, 2017 was lower than the statutory federal rate of 35% primarily due to the impact of non-deductible executive compensation on forecasted annual pre-tax loss and equity-based compensation windfalls, partially offset by state income taxes. Valuation allowance. The Company had valuation allowances of $3.3 million and $1.2 million as of June 30, 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 six months ended June 30, 2018 , the valuation allowance was increased by $2.1 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. During the three months ended June 30, 2018, there was no material change to the valuation allowance. 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	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2018 , employees and non-employee directors of the Company were granted restricted stock awards equal to 2,921,430 shares of common stock with a $9.61 weighted average grant date per share value. Equity-based compensation expense recorded for restricted stock awards for the three and six months ended June 30, 2018 was $4.9 million and $9.6 million , respectively, and $4.9 million and $10.3 million for the three and six months ended June 30, 2017 , respectively. 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 six months ended June 30, 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 six months ended June 30, 2018 , officers of the Company were granted 854,400 PSUs with a $12.71 weighted average grant date per unit value. Equity-based compensation expense recorded for PSUs for the three and six months ended June 30, 2018 was $2.3 million and $4.2 million , respectively, and $2.2 million and $3.5 million for the three and six months ended June 30, 2017 , respectively. Equity-based compensation e xpense 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 and six months ended June 30, 2018 was $0.1 million and $0.2 million , respectively. The Company did not record any equity-based compensation related to the OMP phantom unit awards for the three and six months ended June 30, 2017 because the awards were granted in the fourth quarter of 2017. OMP restricted unit a wards. During the six months ended June 30, 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 awards 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 and $0.2 million for the three and six months ended June 30, 2018 , respectively, 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	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Basic weighted average common shares outstanding 313,072 233,283 301,652 233,176 Dilutive effect of restricted stock awards and PSUs (1) — 1,634 — 3,105 Diluted weighted average common shares outstanding 313,072 234,917 301,652 236,281 __________________ (1) No unvested stock awards were included in computing earnings (loss) per share for the three and six months ended June 30, 2018 because the effect was anti-dilutive. For the three and six months ended June 30, 2018 , the Company incurred a net loss, and therefore the diluted loss per share calculation for those periods excludes the anti-dilutive effect of unvested stock awards. In addition, the Company excluded these unvested stock awards from the diluted earnings (loss) per share calculation for the three and six months ended June 30, 2017 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Restricted stock awards and PSUs 7,515 4,369 7,440 2,957 The Company issued its Senior Convertible Notes in September 2016 (see Note 11 – 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 June 30, 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 and six months ended June 30, 2018 .

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 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 depreciation, depletion and amortization (“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 June 30, 2018: Revenues from non-affiliates $ 450,124 $ 32,717 $ 18,496 $ — $ 501,337 Inter-segment revenues — 39,710 41,418 (81,128 ) — Total revenues 450,124 72,427 59,914 (81,128 ) 501,337 Operating income (loss) (280,090 ) 37,894 8,028 (8,506 ) (242,674 ) Other income (expense) (174,572 ) (79 ) 23 — (174,628 ) Income (loss) before income taxes including non-controlling interests $ (454,662 ) $ 37,815 $ 8,051 $ (8,506 ) $ (417,302 ) Three months ended June 30, 2017: Revenues from non-affiliates $ 226,724 $ 15,566 $ 11,801 $ — $ 254,091 Inter-segment revenues — 24,746 21,650 (46,396 ) — Total revenues 226,724 40,312 33,451 (46,396 ) 254,091 Operating income (loss) (17,425 ) 23,103 1,950 (2,249 ) 5,379 Other income 13,525 3 — — 13,528 Income (loss) before income taxes $ (3,900 ) $ 23,106 $ 1,950 $ (2,249 ) $ 18,907 Six months ended June 30, 2018: Revenues from non-affiliates $ 831,832 $ 60,639 $ 30,082 $ — $ 922,553 Inter-segment revenues — 76,350 74,721 (151,071 ) — Total revenues 831,832 136,989 104,803 (151,071 ) 922,553 Operating income (loss) (200,130 ) 70,132 16,178 (15,869 ) (129,689 ) Other expense (282,717 ) (336 ) (20 ) — (283,073 ) Income (loss) before income taxes including non-controlling interests $ (482,847 ) $ 69,796 $ 16,158 $ (15,869 ) $ (412,762 ) Six months ended June 30, 2017: Revenues from non-affiliates $ 491,607 $ 30,172 $ 17,428 $ — $ 539,207 Inter-segment revenues — 47,781 37,003 (84,784 ) — Total revenues 491,607 77,953 54,431 (84,784 ) 539,207 Operating income (loss) (16,456 ) 43,865 (1,641 ) (297 ) 25,471 Other income 33,292 2 4 — 33,298 Income (loss) before income taxes $ 16,836 $ 43,867 $ (1,637 ) $ (297 ) $ 58,769 At June 30, 2018: Property, plant and equipment, net $ 6,129,083 $ 786,246 $ 44,319 $ (202,407 ) $ 6,757,241 Total assets (1) 6,767,902 816,422 48,419 (167,408 ) 7,465,335 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	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Included below is a discussion of the Company’s various future commitments as of June 30, 2018 . The commitments under these arrangements are not recorded in the accompanying Condensed Consolidated Balance Sheets. The amounts disclosed represent undiscounted cash flows on a gross basis, and no inflation elements have been applied. Volume commitment agreements. As of June 30, 2018 , the Company had certain agreements with an aggregate requirement to deliver or transport a minimum quantity of approximately 55.0 MMBbl of crude oil, 20.3 MMBbl of natural gas liquids, 213.2 Bcf of natural gas, 14.8 MMBbl of freshwater and 4.4 MMBbl of produced water, prior to any applicable volume credits, within specified timeframes, all of which are ten years or less. The estimable future commitments under these agreements were approximately $526.6 million as of June 30, 2018 . The future commitments under certain agreements cannot be estimated as they are based on fixed differentials relative to NYMEX WTI under the agreements as compared to the differential relative to NYMEX WTI for the Williston Basin for the production month. 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	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The Notes (see Note 11 – 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 June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands, except share data) ASSETS Current assets Cash and cash equivalents $ 175 $ 14,148 $ 2,749 $ — $ 17,072 Accounts receivable, net — 375,323 2,757 — 378,080 Accounts receivable - affiliates 328,675 50,210 54,533 (433,418 ) — Inventory — 23,130 92 — 23,222 Prepaid expenses 209 5,307 358 — 5,874 Intangible assets, net — 625 — — 625 Other current assets — 82 — — 82 Total current assets 329,059 468,825 60,489 (433,418 ) 424,955 Property, plant and equipment Oil and gas properties (successful efforts method) — 8,431,500 — (6,666 ) 8,424,834 Other property and equipment — 210,233 813,881 (10 ) 1,024,104 Less: accumulated depreciation, depletion, amortization and impairment — (2,644,313 ) (47,384 ) — (2,691,697 ) Total property, plant and equipment, net — 5,997,420 766,497 (6,676 ) 6,757,241 Assets held for sale, net — 250,118 — — 250,118 Investments in and advances to subsidiaries 4,925,931 453,075 — (5,379,006 ) — Derivative instruments — 25 — — 25 Deferred income taxes 203,764 — — (203,764 ) — Long-term inventory — 12,505 — — 12,505 Other assets — 18,710 1,781 — 20,491 Total assets $ 5,458,754 $ 7,200,678 $ 828,767 $ (6,022,864 ) $ 7,465,335 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ — $ 26,861 $ 3,127 $ — $ 29,988 Accounts payable - affiliates 40,469 383,208 9,741 (433,418 ) — Revenues and production taxes payable — 245,924 291 — 246,215 Accrued liabilities 68 262,553 57,887 — 320,508 Accrued interest payable 36,192 674 105 — 36,971 Derivative instruments — 194,810 — — 194,810 Advances from joint interest partners — 3,983 — — 3,983 Other current liabilities — 40 — — 40 Total current liabilities 76,729 1,118,053 71,151 (433,418 ) 832,515 Long-term debt 1,941,481 651,000 165,000 — 2,757,481 Deferred income taxes — 409,392 — (203,764 ) 205,628 Asset retirement obligations — 48,310 1,433 — 49,743 Liabilities held for sale — 4,181 — — 4,181 Derivative instruments — 35,007 — — 35,007 Other liabilities — 6,529 — — 6,529 Total liabilities 2,018,210 2,272,472 237,584 (637,182 ) 3,891,084 Stockholders’ equity Capital contributions from affiliates — 3,642,698 213,179 (3,855,877 ) — Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,534 shares issued and 317,985,056 shares outstanding 3,154 — — — 3,154 Treasury stock, at cost: 2,025,478 shares (28,243 ) — — — (28,243 ) Additional paid-in-capital 3,062,861 9,067 — (9,067 ) 3,062,861 Retained earnings 402,772 1,138,333 34,037 (1,176,771 ) 398,371 Oasis share of stockholders’ equity 3,440,544 4,790,098 247,216 (5,041,715 ) 3,436,143 Non-controlling interests — 138,108 343,967 (343,967 ) 138,108 Total stockholders’ equity 3,440,544 4,928,206 591,183 (5,385,682 ) 3,574,251 Total liabilities and stockholders’ equity $ 5,458,754 $ 7,200,678 $ 828,767 $ (6,022,864 ) $ 7,465,335 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 June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 395,921 $ — $ — $ 395,921 Purchased oil and gas sales — 57,578 — — 57,578 Midstream revenues — 917 66,558 (38,133 ) 29,342 Well services revenues — 18,496 — — 18,496 Total revenues — 472,912 66,558 (38,133 ) 501,337 Operating expenses Lease operating expenses — 57,615 — (13,474 ) 44,141 Midstream operating expenses — 780 16,334 (9,426 ) 7,688 Well services operating expenses — 13,560 — — 13,560 Marketing, transportation and gathering expenses — 28,653 — (5,820 ) 22,833 Purchased oil and gas expenses — 57,165 — — 57,165 Production taxes — 34,026 — — 34,026 Depreciation, depletion and amortization — 150,554 6,659 (3,643 ) 153,570 Exploration expenses — 617 — — 617 Impairment — 384,135 — — 384,135 General and administrative expenses 7,496 17,954 5,897 (3,117 ) 28,230 Total operating expenses 7,496 745,059 28,890 (35,480 ) 745,965 Gain on sale of properties — 1,954 — — 1,954 Operating income (loss) (7,496 ) (270,193 ) 37,668 (2,653 ) (242,674 ) Other income (expense) Equity in earnings (loss) of subsidiaries (278,014 ) 37,485 — 240,529 — Net loss on derivative instruments — (120,285 ) — — (120,285 ) Interest expense, net of capitalized interest (33,135 ) (7,592 ) (183 ) — (40,910 ) Loss on extinguishment of debt (13,651 ) — — — (13,651 ) Other income — 218 — — 218 Total other expense (324,800 ) (90,174 ) (183 ) 240,529 (174,628 ) Income (loss) before income taxes (332,296 ) (360,367 ) 37,485 237,876 (417,302 ) Income tax benefit 12,092 88,909 — — 101,001 Net income (loss) including non-controlling interests (320,204 ) (271,458 ) 37,485 237,876 (316,301 ) Less: Net income attributable to non-controlling interests — 3,903 25,042 (25,042 ) 3,903 Net income (loss) attributable to Oasis $ (320,204 ) $ (275,361 ) $ 12,443 $ 262,918 $ (320,204 ) Condensed Consolidating Statement of Operations Three Months Ended June 30, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 218,633 $ — $ 218,633 Purchased oil and gas sales — 8,091 — 8,091 Midstream revenues — 15,566 — 15,566 Well services revenues — 11,801 — 11,801 Total revenues — 254,091 — 254,091 Operating expenses Lease operating expenses — 44,665 — 44,665 Midstream operating expenses — 3,263 — 3,263 Well services operating expenses — 9,010 — 9,010 Marketing, transportation and gathering expenses — 12,039 — 12,039 Purchased oil and gas expenses — 7,980 — 7,980 Production taxes — 18,971 — 18,971 Depreciation, depletion and amortization — 125,291 — 125,291 Exploration expenses — 1,667 — 1,667 Impairment — 3,200 — 3,200 General and administrative expenses 7,534 15,092 — 22,626 Total operating expenses 7,534 241,178 — 248,712 Operating income (loss) (7,534 ) 12,913 — 5,379 Other income (expense) Equity in earnings of subsidiaries 38,875 — (38,875 ) — Net gain on derivative instruments — 50,532 — 50,532 Interest expense, net of capitalized interest (33,006 ) (3,832 ) — (36,838 ) Other expense — (166 ) — (166 ) Total other income 5,869 46,534 (38,875 ) 13,528 Income (loss) before income taxes (1,665 ) 59,447 (38,875 ) 18,907 Income tax benefit (expense) 18,233 (20,572 ) — (2,339 ) Net income $ 16,568 $ 38,875 $ (38,875 ) $ 16,568 Condensed Consolidating Statement of Operations Six Months Ended June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 759,592 $ — $ — $ 759,592 Purchased oil and gas sales — 75,615 — — 75,615 Midstream revenues — 2,067 127,979 (72,782 ) 57,264 Well services revenues — 30,082 — — 30,082 Total revenues — 867,356 127,979 (72,782 ) 922,553 Operating expenses Lease operating expenses — 113,314 — (24,392 ) 88,922 Midstream operating expenses — 1,526 33,450 (19,303 ) 15,673 Well services operating expenses — 20,947 — — 20,947 Marketing, transportation and gathering expenses — 55,325 — (11,479 ) 43,846 Purchased oil and gas expenses — 75,163 — — 75,163 Production taxes — 65,026 — — 65,026 Depreciation, depletion and amortization — 296,781 13,023 (6,969 ) 302,835 Exploration expenses — 1,386 — — 1,386 Impairment — 384,228 — — 384,228 General and administrative expenses 14,728 35,632 12,047 (6,237 ) 56,170 Total operating expenses 14,728 1,049,328 58,520 (68,380 ) 1,054,196 Gain on sale of properties — 1,954 — — 1,954 Operating income (loss) (14,728 ) (180,018 ) 69,459 (4,402 ) (129,689 ) Other income (expense) Equity in earnings (loss) of subsidiaries (245,850 ) 69,014 — 176,836 — Net loss on derivative instruments — (191,401 ) — — (191,401 ) Interest expense, net of capitalized interest (65,581 ) (12,030 ) (445 ) — (78,056 ) Loss on extinguishment of debt (13,651 ) — — — (13,651 ) Other income — 35 — — 35 Total other expense (325,082 ) (134,382 ) (445 ) 176,836 (283,073 ) Income (loss) before income taxes (339,810 ) (314,400 ) 69,014 172,434 (412,762 ) Income tax benefit 20,196 79,977 — — 100,173 Net income (loss) including non-controlling interests (319,614 ) (234,423 ) 69,014 172,434 (312,589 ) Less: Net income attributable to non-controlling interests — 7,025 46,616 (46,616 ) 7,025 Net income (loss) attributable to Oasis $ (319,614 ) $ (241,448 ) $ 22,398 $ 219,050 $ (319,614 ) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 455,885 $ — $ 455,885 Purchased oil and gas sales — 35,722 — 35,722 Midstream revenues — 30,172 — 30,172 Well services revenues — 17,428 — 17,428 Total revenues — 539,207 — 539,207 Operating expenses Lease operating expenses — 88,537 — 88,537 Midstream operating expenses — 6,590 — 6,590 Well services operating expenses — 13,570 — 13,570 Marketing, transportation and gathering expenses — 22,990 — 22,990 Purchased oil and gas expenses — 35,982 — 35,982 Production taxes — 39,270 — 39,270 Depreciation, depletion and amortization — 251,957 — 251,957 Exploration expenses — 3,156 — 3,156 Impairment — 5,882 — 5,882 General and administrative expenses 14,599 31,203 — 45,802 Total operating expenses 14,599 499,137 — 513,736 Operating income (loss) (14,599 ) 40,070 — 25,471 Other income (expense) Equity in earnings of subsidiaries 87,978 — (87,978 ) — Net gain on derivative instruments — 106,607 — 106,607 Interest expense, net of capitalized interest (65,857 ) (7,302 ) — (73,159 ) Other expense — (150 ) — (150 ) Total other income 22,121 99,155 (87,978 ) 33,298 Income before income taxes 7,522 139,225 (87,978 ) 58,769 Income tax benefit (expense) 32,871 (51,247 ) — (18,376 ) Net income $ 40,393 $ 87,978 $ (87,978 ) $ 40,393 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income (loss) including non-controlling interests $ (319,614 ) $ (234,423 ) $ 69,014 $ 172,434 $ (312,589 ) Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by operating activities: Equity in earnings (loss) of subsidiaries 245,850 (69,014 ) — (176,836 ) — Depreciation, depletion and amortization — 296,781 13,023 (6,969 ) 302,835 Loss on extinguishment of debt 13,651 — — — 13,651 Gain on sale of properties — (1,954 ) — — (1,954 ) Impairment — 384,228 — — 384,228 Deferred income taxes (20,196 ) (80,097 ) — — (100,293 ) Derivative instruments — 191,401 — — 191,401 Equity-based compensation expenses 13,340 624 166 — 14,130 Deferred financing costs amortization and other 7,892 2,522 104 — 10,518 Working capital and other changes: Change in accounts receivable 96,993 (8,178 ) 29,407 (124,088 ) (5,866 ) Change in inventory — (4,629 ) (92 ) — (4,721 ) Change in prepaid expenses 58 95 420 — 573 Change in other current assets — 111 — — 111 Change in long-term inventory and other assets — (381 ) — — (381 ) Change in accounts payable, interest payable and accrued liabilities 3,335 (90,679 ) 4,105 124,088 40,849 Change in other liabilities — (476 ) — — (476 ) Net cash provided by operating activities 41,309 385,931 116,147 (11,371 ) 532,016 Cash flows from investing activities: Capital expenditures — (381,971 ) (154,988 ) — (536,959 ) Acquisitions — (524,255 ) — — (524,255 ) Proceeds from sale of properties — 2,236 — — 2,236 Derivative settlements — (96,823 ) — — (96,823 ) Advances from joint interest partners — (933 ) — — (933 ) Net cash used in investing activities — (1,001,746 ) (154,988 ) — (1,156,734 ) Cash flows from financing activities: Proceeds from Revolving Credit Facilities — 1,820,000 113,000 — 1,933,000 Principal payments on Revolving Credit Facilities — (1,239,000 ) (26,000 ) — (1,265,000 ) Repurchase of senior unsecured notes (423,143 ) — — — (423,143 ) Proceeds from issuance of senior unsecured convertible notes 400,000 — — — 400,000 Deferred financing costs (6,524 ) (266 ) — — (6,790 ) Purchases of treasury stock (6,064 ) — — — (6,064 ) Distributions to non-controlling interests — 48,911 (55,757 ) — (6,846 ) Investment in subsidiaries / capital contributions from parent (5,619 ) (15,216 ) 9,464 11,371 — Other 38 (125 ) — — (87 ) Net cash provided by (used in) financing activities (41,312 ) 614,304 40,707 11,371 625,070 Increase (decrease) in cash and cash equivalents (3 ) (1,511 ) 1,866 — 352 Cash and cash equivalents at beginning of period 178 15,659 883 — 16,720 Cash and cash equivalents at end of period $ 175 $ 14,148 $ 2,749 $ — $ 17,072 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income $ 40,393 $ 87,978 $ (87,978 ) $ 40,393 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (87,978 ) — 87,978 — Depreciation, depletion and amortization — 251,957 — 251,957 Impairment — 5,882 — 5,882 Deferred income taxes (32,871 ) 51,247 — 18,376 Derivative instruments — (106,607 ) — (106,607 ) Equity-based compensation expenses 13,395 428 — 13,823 Deferred financing costs amortization and other 7,470 1,401 — 8,871 Working capital and other changes: Change in accounts receivable 64,504 (19,833 ) (58,414 ) (13,743 ) Change in inventory — (1,007 ) — (1,007 ) Change in prepaid expenses (389 ) 125 — (264 ) Change in other current assets (3 ) 283 — 280 Change in long-term inventory and other assets — (8,768 ) — (8,768 ) Change in accounts payable, interest payable and accrued liabilities 6,185 (53,441 ) 58,414 11,158 Change in other current liabilities — (10,490 ) — (10,490 ) Net cash provided by operating activities 10,706 199,155 — 209,861 Cash flows from investing activities: Capital expenditures — (252,461 ) — (252,461 ) Proceeds from sale of properties — 4,000 — 4,000 Derivative settlements — (8,899 ) — (8,899 ) Advances from joint interest partners — (1,781 ) — (1,781 ) Net cash used in investing activities — (259,141 ) — (259,141 ) Cash flows from financing activities: Proceeds from Oasis Credit Facility — 484,000 — 484,000 Principal payments on Oasis Credit Facility — (429,000 ) — (429,000 ) Purchases of treasury stock (5,451 ) — — (5,451 ) Investment in subsidiaries / capital contributions from parent (5,188 ) 5,188 — — Other (55 ) — — (55 ) Net cash provided by (used in) financing activities (10,694 ) 60,188 — 49,494 Increase in cash and cash equivalents 12 202 — 214 Cash and cash equivalents at beginning of period 166 11,060 — 11,226 Cash and cash equivalents at end of period $ 178 $ 11,262 $ — $ 11,440

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 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 Accoun26

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 June 30, 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 natural gas liquids (“NGL”) sales, as described below. Generally, for the majority of these contracts: (i) each unit (barrel (“bbl”), 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. Purchased oil and gas sales. The Company purchases and sells crude oil and natural gas at various delivery points to a variety of customers under short-term contracts that include specified quantities of crude oil and natural gas to be sold and delivered to the customer at a specified delivery point. The Company purchases and sells crude oil and natural gas to different counterparties at market-based prices. Market-based pricing is based on the price index applicable for the location of the sale. The Company accounts for these transactions on a gross basis. 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 and six months ended June 30, 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 and six months ended June 30, 2018 and 2017 : Exploration and Production Revenues Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Oil revenues $ 361,254 $ 194,005 $ 684,640 $ 402,599 Purchased oil sales 53,707 7,905 71,695 35,536 Natural gas revenues 23,059 15,119 50,021 34,652 Purchased gas sales 496 186 545 186 NGL revenues 11,608 9,509 24,931 18,634 Total exploration and production revenues $ 450,124 $ 226,724 $ 831,832 $ 491,607 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. Purchased oil sales. The Company purchases and sells crude oil at various delivery points on crude oil gathering systems to a variety of customers under short-term contracts that include a specified quantity of crude oil to be sold and delivered to the customer at a specified delivery point. The Company purchases and sells the crude oil to different counterparties at market-based prices. Market-based pricing is based on the price index applicable for the location of the sale. The Company accounts for these transactions on a gross basis. 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 and six months ended June 30, 2018 and 2017 : Midstream Revenues (1) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Crude oil and natural gas revenues $ 17,907 $ 3,187 $ 35,936 $ 11,739 Purchased oil sales 3,375 — 3,375 — Water revenues 11,435 12,379 21,328 18,433 Total midstream revenues $ 32,717 $ 15,566 $ 60,639 $ 30,172 __________________ (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 and six months ended June 30, 2018 and 2017 : Well Services Revenues (1) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Hydraulic fracturing service revenues $ 17,390 $ 11,057 $ 27,816 $ 16,213 Equipment rental revenues 1,106 744 2,266 1,215 Total well services revenues $ 18,496 $ 11,801 $ 30,082 $ 17,428 __________________ (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 instruments. 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 June 30, 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 prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of June 30, 2018 .
Income Taxes	Income taxes. In the first quarter of 2018, the Company adopted Accounting Standards Update No. 2016-16, Intra-Entity Transfers of Assets Other Than Inventory (“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 prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of June 30, 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 June 30, 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 prior periods were not retrospectively adjusted. There was no material impact as a result of adoption as of June 30, 2018 .
Recent Accounting Pronouncements	Recent Accounting Pronouncements Leases. 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. This standard does not apply to leases to explore for or use minerals, oil or natural gas resources, including the right to explore for those natural resources. 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 , 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 13 – 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)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenues associated with contracts with customers for midstream services were as follows for the three and six months ended June 30, 2018 and 2017 : Midstream Revenues (1) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Crude oil and natural gas revenues $ 17,907 $ 3,187 $ 35,936 $ 11,739 Purchased oil sales 3,375 — 3,375 — Water revenues 11,435 12,379 21,328 18,433 Total midstream revenues $ 32,717 $ 15,566 $ 60,639 $ 30,172 __________________ (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 oil, natural gas and NGL sales were as follows for the three and six months ended June 30, 2018 and 2017 : Exploration and Production Revenues Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Oil revenues $ 361,254 $ 194,005 $ 684,640 $ 402,599 Purchased oil sales 53,707 7,905 71,695 35,536 Natural gas revenues 23,059 15,119 50,021 34,652 Purchased gas sales 496 186 545 186 NGL revenues 11,608 9,509 24,931 18,634 Total exploration and production revenues $ 450,124 $ 226,724 $ 831,832 $ 491,607 Revenues associated with contracts with customers for hydraulic fracturing services and equipment rental sales were as follows for the three and six months ended June 30, 2018 and 2017 : Well Services Revenues (1) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Hydraulic fracturing service revenues $ 17,390 $ 11,057 $ 27,816 $ 16,213 Equipment rental revenues 1,106 744 2,266 1,215 Total well services revenues $ 18,496 $ 11,801 $ 30,082 $ 17,428 __________________ (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)	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Components of Inventory	Total inventory consists of the following: June 30, 2018 December 31, 2017 (In thousands) Inventory Crude oil inventory $ 7,000 $ 10,427 Equipment and materials 16,222 8,940 Total inventory $ 23,222 $ 19,367 Long-term inventory Linefill in third-party pipelines $ 12,505 $ 12,200 Long-term inventory $ 12,505 $ 12,200 Total $ 35,727 $ 31,567
Components of Long-term Inventory	Total inventory consists of the following: June 30, 2018 December 31, 2017 (In thousands) Inventory Crude oil inventory $ 7,000 $ 10,427 Equipment and materials 16,222 8,940 Total inventory $ 23,222 $ 19,367 Long-term inventory Linefill in third-party pipelines $ 12,505 $ 12,200 Long-term inventory $ 12,505 $ 12,200 Total $ 35,727 $ 31,567

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Schedule of Accounts Receivable, Net	The following table sets forth the Company’s accounts receivable, net: June 30, 2018 December 31, 2017 (In thousands) Accounts receivable, net Trade accounts $ 250,740 $ 233,660 Joint interest accounts 79,304 73,588 Other accounts 48,982 57,905 Total 379,026 365,153 Allowance for doubtful accounts (946 ) (1,573 ) Total accounts receivable, net $ 378,080 $ 363,580

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2018 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds $ 143 $ — $ — $ 143 Commodity derivative instruments (see Note 7) — 25 — 25 Total assets $ 143 $ 25 $ — $ 168 Liabilities: Commodity derivative instruments (see Note 7) $ — $ 229,817 $ — $ 229,817 Total liabilities $ — $ 229,817 $ — $ 229,817 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)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Commodity Derivative Instruments	At June 30, 2018 , the Company had the following outstanding commodity derivative instruments: Commodity Settlement Derivative Index Volumes Weighted Average Prices Fair Value Fixed Price Swaps Basis Swaps Sub-Floor Floor Ceiling (In thousands) Crude oil 2018 Fixed price swaps NYMEX WTI 7,745,000 Bbl $ 53.02 $ (133,352 ) Crude oil 2018 Basis swaps NYMEX WTI-ICE BRENT 153,000 Bbl $ (10.50 ) 471 Crude oil 2018 Two-way collar NYMEX WTI 549,000 Bbl $ 48.67 $ 53.07 (9,479 ) Crude oil 2019 Fixed price swaps NYMEX WTI 5,613,000 Bbl $ 53.33 (69,121 ) Crude oil 2019 Basis swaps NYMEX WTI-ICE BRENT 212,000 Bbl $ (10.50 ) 353 Crude oil 2019 Two-way collar NYMEX WTI 761,000 Bbl $ 52.03 $ 69.03 (2,500 ) Crude oil 2019 Three-way collar NYMEX WTI 3,368,000 Bbl $ 40.54 $ 51.03 $ 68.68 (12,060 ) Crude oil 2020 Fixed price swaps NYMEX WTI 403,000 Bbl $ 53.47 (3,557 ) Crude oil 2020 Two-way collar NYMEX WTI 62,000 Bbl $ 52.50 $ 71.25 (30 ) Crude oil 2020 Three-way collar NYMEX WTI 279,000 Bbl $ 40.00 $ 50.56 $ 67.80 (876 ) Natural gas 2018 Fixed price swaps NYMEX HH 6,440,000 MMbtu $ 3.02 403 Natural gas 2019 Fixed price swaps NYMEX HH 1,353,000 MMbtu $ 2.96 (44 ) $ (229,792 )
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 June 30, Six Months Ended June 30, Statements of Operations Location 2018 2017 2018 2017 (In thousands) Net gain (loss) on derivative instruments $ (120,285 ) $ 50,532 $ (191,401 ) $ 106,607
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: June 30, 2018 Commodity Balance Sheet Location Gross Recognized Asset/Liabilities Gross Amount Offset Net Recognized Fair Value Asset/Liabilities (In thousands) Derivatives assets: Commodity contracts Derivative instruments — non-current assets $ 25 $ — $ 25 Total derivatives assets $ 25 $ — $ 25 Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 198,306 $ (3,496 ) $ 194,810 Commodity contracts Derivative instruments — non-current liabilities 40,661 (5,654 ) 35,007 Total derivatives liabilities $ 238,967 $ (9,150 ) $ 229,817 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: June 30, 2018 Commodity Balance Sheet Location Gross Recognized Asset/Liabilities Gross Amount Offset Net Recognized Fair Value Asset/Liabilities (In thousands) Derivatives assets: Commodity contracts Derivative instruments — non-current assets $ 25 $ — $ 25 Total derivatives assets $ 25 $ — $ 25 Derivatives liabilities: Commodity contracts Derivative instruments — current liabilities $ 198,306 $ (3,496 ) $ 194,810 Commodity contracts Derivative instruments — non-current liabilities 40,661 (5,654 ) 35,007 Total derivatives liabilities $ 238,967 $ (9,150 ) $ 229,817 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)	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The following table sets forth the Company’s property, plant and equipment: June 30, 2018 December 31, 2017 (In thousands) Proved oil and gas properties (1) $ 7,340,228 $ 7,058,782 Less: Accumulated depreciation, depletion, amortization and impairment (2,532,668 ) (2,395,153 ) Proved oil and gas properties, net 4,807,560 4,663,629 Unproved oil and gas properties 1,084,606 780,173 Other property and equipment 1,024,104 868,746 Less: Accumulated depreciation (159,029 ) (139,062 ) Other property and equipment, net 865,075 729,684 Total property, plant and equipment, net $ 6,757,241 $ 6,173,486 __________________ (1) Included in the Company’s proved oil and gas properties are estimates of future asset retirement costs of $44.0 million and $39.9 million at June 30, 2018 and December 31, 2017 , respectively.

Acquisition Acquisition (Tables

Acquisition Acquisition (Tables)	6 Months Ended
	Jun. 30, 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 was finalized in July 2018, subsequent to the second 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 and six months ended June 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) (In thousands) Unaudited Unaudited Revenues $ 501,337 $ 262,991 $ 928,082 $ 553,073 Net income attributable to Oasis (320,204 ) 23,877 (315,073 ) 51,785 Net income attributable to Oasis per share: Basic $ (1.02 ) $ 0.09 $ (1.01 ) $ 0.19 Diluted (1.02 ) 0.08 (1.00 ) 0.18

Divestitures and Assets Held 34

Divestitures and Assets Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	The following table presents balance sheet data related to the assets and liabilities held for sale related to the Foreman Butte Divestiture , including the write down for impairment loss, as of June 30, 2018 : June 30, 2018 (in thousands) Assets: Accounts receivable, net $ 601 Inventory 866 Oil and gas properties (successful efforts method) 336,604 Other property and equipment 11,865 Less: accumulated depreciation, depletion, amortization and impairment (218,360 ) Total assets held for sale, net $ 131,576 Liabilities: Asset retirement obligations 2,576 Total liabilities held for sale $ 2,576 The following table presents balance sheet data related to the assets and liabilities held for sale related to the Williston Non-Op Divestiture as of June 30, 2018 : June 30, 2018 (in thousands) Assets: Accounts receivable, net $ 273 Oil and gas properties (successful efforts method) 179,921 Less: accumulated depreciation, depletion, amortization and impairment (61,652 ) Total assets held for sale, net $ 118,542 Liabilities: Asset retirement obligations 1,605 Total liabilities held for sale $ 1,605

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company’s long-term debt consists of the following: June 30, 2018 December 31, 2017 (In thousands) Oasis Credit Facility $ 651,000 $ 70,000 OMP Credit Facility 165,000 78,000 Senior unsecured notes 7.25% senior unsecured notes due February 1, 2019 — 54,275 6.50% senior unsecured notes due November 1, 2021 71,835 395,501 6.875% senior unsecured notes due March 15, 2022 901,480 937,080 6.875% senior unsecured notes due January 15, 2023 366,094 366,094 6.25% senior unsecured notes due May 1, 2026 400,000 — 2.625% senior unsecured convertible notes due September 15, 2023 300,000 300,000 Total principal of senior unsecured notes 2,039,409 2,052,950 Less: unamortized deferred financing costs on senior unsecured notes (22,889 ) (22,956 ) Less: unamortized debt discount on senior unsecured convertible notes (75,039 ) (80,388 ) Total long-term debt $ 2,757,481 $ 2,097,606

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2018 : (In thousands) Balance at December 31, 2017 $ 48,799 Liabilities incurred during period 4,008 Liabilities settled during period (1 ) Accretion expense during period (1) 1,314 Revisions to estimates 84 Liabilities held for sale (2) (4,167 ) Balance at June 30, 2018 $ 50,037 ___________________ (1) Included in depreciation, depletion and amortization on the Company’s Condensed Consolidated Statements of Operations. (2) Represents ARO related to the properties held for sale as of June 30, 2018 (see N ote 10 - Divestitures and Assets Held for Sale ).

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Basic weighted average common shares outstanding 313,072 233,283 301,652 233,176 Dilutive effect of restricted stock awards and PSUs (1) — 1,634 — 3,105 Diluted weighted average common shares outstanding 313,072 234,917 301,652 236,281 __________________ (1) No unvested stock awards were included in computing earnings (loss) per share for the three and six months ended June 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Restricted stock awards and PSUs 7,515 4,369 7,440 2,957

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2018: Revenues from non-affiliates $ 450,124 $ 32,717 $ 18,496 $ — $ 501,337 Inter-segment revenues — 39,710 41,418 (81,128 ) — Total revenues 450,124 72,427 59,914 (81,128 ) 501,337 Operating income (loss) (280,090 ) 37,894 8,028 (8,506 ) (242,674 ) Other income (expense) (174,572 ) (79 ) 23 — (174,628 ) Income (loss) before income taxes including non-controlling interests $ (454,662 ) $ 37,815 $ 8,051 $ (8,506 ) $ (417,302 ) Three months ended June 30, 2017: Revenues from non-affiliates $ 226,724 $ 15,566 $ 11,801 $ — $ 254,091 Inter-segment revenues — 24,746 21,650 (46,396 ) — Total revenues 226,724 40,312 33,451 (46,396 ) 254,091 Operating income (loss) (17,425 ) 23,103 1,950 (2,249 ) 5,379 Other income 13,525 3 — — 13,528 Income (loss) before income taxes $ (3,900 ) $ 23,106 $ 1,950 $ (2,249 ) $ 18,907 Six months ended June 30, 2018: Revenues from non-affiliates $ 831,832 $ 60,639 $ 30,082 $ — $ 922,553 Inter-segment revenues — 76,350 74,721 (151,071 ) — Total revenues 831,832 136,989 104,803 (151,071 ) 922,553 Operating income (loss) (200,130 ) 70,132 16,178 (15,869 ) (129,689 ) Other expense (282,717 ) (336 ) (20 ) — (283,073 ) Income (loss) before income taxes including non-controlling interests $ (482,847 ) $ 69,796 $ 16,158 $ (15,869 ) $ (412,762 ) Six months ended June 30, 2017: Revenues from non-affiliates $ 491,607 $ 30,172 $ 17,428 $ — $ 539,207 Inter-segment revenues — 47,781 37,003 (84,784 ) — Total revenues 491,607 77,953 54,431 (84,784 ) 539,207 Operating income (loss) (16,456 ) 43,865 (1,641 ) (297 ) 25,471 Other income 33,292 2 4 — 33,298 Income (loss) before income taxes $ 16,836 $ 43,867 $ (1,637 ) $ (297 ) $ 58,769 At June 30, 2018: Property, plant and equipment, net $ 6,129,083 $ 786,246 $ 44,319 $ (202,407 ) $ 6,757,241 Total assets (1) 6,767,902 816,422 48,419 (167,408 ) 7,465,335 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 Finan40

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands, except share data) ASSETS Current assets Cash and cash equivalents $ 175 $ 14,148 $ 2,749 $ — $ 17,072 Accounts receivable, net — 375,323 2,757 — 378,080 Accounts receivable - affiliates 328,675 50,210 54,533 (433,418 ) — Inventory — 23,130 92 — 23,222 Prepaid expenses 209 5,307 358 — 5,874 Intangible assets, net — 625 — — 625 Other current assets — 82 — — 82 Total current assets 329,059 468,825 60,489 (433,418 ) 424,955 Property, plant and equipment Oil and gas properties (successful efforts method) — 8,431,500 — (6,666 ) 8,424,834 Other property and equipment — 210,233 813,881 (10 ) 1,024,104 Less: accumulated depreciation, depletion, amortization and impairment — (2,644,313 ) (47,384 ) — (2,691,697 ) Total property, plant and equipment, net — 5,997,420 766,497 (6,676 ) 6,757,241 Assets held for sale, net — 250,118 — — 250,118 Investments in and advances to subsidiaries 4,925,931 453,075 — (5,379,006 ) — Derivative instruments — 25 — — 25 Deferred income taxes 203,764 — — (203,764 ) — Long-term inventory — 12,505 — — 12,505 Other assets — 18,710 1,781 — 20,491 Total assets $ 5,458,754 $ 7,200,678 $ 828,767 $ (6,022,864 ) $ 7,465,335 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Accounts payable $ — $ 26,861 $ 3,127 $ — $ 29,988 Accounts payable - affiliates 40,469 383,208 9,741 (433,418 ) — Revenues and production taxes payable — 245,924 291 — 246,215 Accrued liabilities 68 262,553 57,887 — 320,508 Accrued interest payable 36,192 674 105 — 36,971 Derivative instruments — 194,810 — — 194,810 Advances from joint interest partners — 3,983 — — 3,983 Other current liabilities — 40 — — 40 Total current liabilities 76,729 1,118,053 71,151 (433,418 ) 832,515 Long-term debt 1,941,481 651,000 165,000 — 2,757,481 Deferred income taxes — 409,392 — (203,764 ) 205,628 Asset retirement obligations — 48,310 1,433 — 49,743 Liabilities held for sale — 4,181 — — 4,181 Derivative instruments — 35,007 — — 35,007 Other liabilities — 6,529 — — 6,529 Total liabilities 2,018,210 2,272,472 237,584 (637,182 ) 3,891,084 Stockholders’ equity Capital contributions from affiliates — 3,642,698 213,179 (3,855,877 ) — Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,534 shares issued and 317,985,056 shares outstanding 3,154 — — — 3,154 Treasury stock, at cost: 2,025,478 shares (28,243 ) — — — (28,243 ) Additional paid-in-capital 3,062,861 9,067 — (9,067 ) 3,062,861 Retained earnings 402,772 1,138,333 34,037 (1,176,771 ) 398,371 Oasis share of stockholders’ equity 3,440,544 4,790,098 247,216 (5,041,715 ) 3,436,143 Non-controlling interests — 138,108 343,967 (343,967 ) 138,108 Total stockholders’ equity 3,440,544 4,928,206 591,183 (5,385,682 ) 3,574,251 Total liabilities and stockholders’ equity $ 5,458,754 $ 7,200,678 $ 828,767 $ (6,022,864 ) $ 7,465,335 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 June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 395,921 $ — $ — $ 395,921 Purchased oil and gas sales — 57,578 — — 57,578 Midstream revenues — 917 66,558 (38,133 ) 29,342 Well services revenues — 18,496 — — 18,496 Total revenues — 472,912 66,558 (38,133 ) 501,337 Operating expenses Lease operating expenses — 57,615 — (13,474 ) 44,141 Midstream operating expenses — 780 16,334 (9,426 ) 7,688 Well services operating expenses — 13,560 — — 13,560 Marketing, transportation and gathering expenses — 28,653 — (5,820 ) 22,833 Purchased oil and gas expenses — 57,165 — — 57,165 Production taxes — 34,026 — — 34,026 Depreciation, depletion and amortization — 150,554 6,659 (3,643 ) 153,570 Exploration expenses — 617 — — 617 Impairment — 384,135 — — 384,135 General and administrative expenses 7,496 17,954 5,897 (3,117 ) 28,230 Total operating expenses 7,496 745,059 28,890 (35,480 ) 745,965 Gain on sale of properties — 1,954 — — 1,954 Operating income (loss) (7,496 ) (270,193 ) 37,668 (2,653 ) (242,674 ) Other income (expense) Equity in earnings (loss) of subsidiaries (278,014 ) 37,485 — 240,529 — Net loss on derivative instruments — (120,285 ) — — (120,285 ) Interest expense, net of capitalized interest (33,135 ) (7,592 ) (183 ) — (40,910 ) Loss on extinguishment of debt (13,651 ) — — — (13,651 ) Other income — 218 — — 218 Total other expense (324,800 ) (90,174 ) (183 ) 240,529 (174,628 ) Income (loss) before income taxes (332,296 ) (360,367 ) 37,485 237,876 (417,302 ) Income tax benefit 12,092 88,909 — — 101,001 Net income (loss) including non-controlling interests (320,204 ) (271,458 ) 37,485 237,876 (316,301 ) Less: Net income attributable to non-controlling interests — 3,903 25,042 (25,042 ) 3,903 Net income (loss) attributable to Oasis $ (320,204 ) $ (275,361 ) $ 12,443 $ 262,918 $ (320,204 ) Condensed Consolidating Statement of Operations Three Months Ended June 30, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 218,633 $ — $ 218,633 Purchased oil and gas sales — 8,091 — 8,091 Midstream revenues — 15,566 — 15,566 Well services revenues — 11,801 — 11,801 Total revenues — 254,091 — 254,091 Operating expenses Lease operating expenses — 44,665 — 44,665 Midstream operating expenses — 3,263 — 3,263 Well services operating expenses — 9,010 — 9,010 Marketing, transportation and gathering expenses — 12,039 — 12,039 Purchased oil and gas expenses — 7,980 — 7,980 Production taxes — 18,971 — 18,971 Depreciation, depletion and amortization — 125,291 — 125,291 Exploration expenses — 1,667 — 1,667 Impairment — 3,200 — 3,200 General and administrative expenses 7,534 15,092 — 22,626 Total operating expenses 7,534 241,178 — 248,712 Operating income (loss) (7,534 ) 12,913 — 5,379 Other income (expense) Equity in earnings of subsidiaries 38,875 — (38,875 ) — Net gain on derivative instruments — 50,532 — 50,532 Interest expense, net of capitalized interest (33,006 ) (3,832 ) — (36,838 ) Other expense — (166 ) — (166 ) Total other income 5,869 46,534 (38,875 ) 13,528 Income (loss) before income taxes (1,665 ) 59,447 (38,875 ) 18,907 Income tax benefit (expense) 18,233 (20,572 ) — (2,339 ) Net income $ 16,568 $ 38,875 $ (38,875 ) $ 16,568 Condensed Consolidating Statement of Operations Six Months Ended June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 759,592 $ — $ — $ 759,592 Purchased oil and gas sales — 75,615 — — 75,615 Midstream revenues — 2,067 127,979 (72,782 ) 57,264 Well services revenues — 30,082 — — 30,082 Total revenues — 867,356 127,979 (72,782 ) 922,553 Operating expenses Lease operating expenses — 113,314 — (24,392 ) 88,922 Midstream operating expenses — 1,526 33,450 (19,303 ) 15,673 Well services operating expenses — 20,947 — — 20,947 Marketing, transportation and gathering expenses — 55,325 — (11,479 ) 43,846 Purchased oil and gas expenses — 75,163 — — 75,163 Production taxes — 65,026 — — 65,026 Depreciation, depletion and amortization — 296,781 13,023 (6,969 ) 302,835 Exploration expenses — 1,386 — — 1,386 Impairment — 384,228 — — 384,228 General and administrative expenses 14,728 35,632 12,047 (6,237 ) 56,170 Total operating expenses 14,728 1,049,328 58,520 (68,380 ) 1,054,196 Gain on sale of properties — 1,954 — — 1,954 Operating income (loss) (14,728 ) (180,018 ) 69,459 (4,402 ) (129,689 ) Other income (expense) Equity in earnings (loss) of subsidiaries (245,850 ) 69,014 — 176,836 — Net loss on derivative instruments — (191,401 ) — — (191,401 ) Interest expense, net of capitalized interest (65,581 ) (12,030 ) (445 ) — (78,056 ) Loss on extinguishment of debt (13,651 ) — — — (13,651 ) Other income — 35 — — 35 Total other expense (325,082 ) (134,382 ) (445 ) 176,836 (283,073 ) Income (loss) before income taxes (339,810 ) (314,400 ) 69,014 172,434 (412,762 ) Income tax benefit 20,196 79,977 — — 100,173 Net income (loss) including non-controlling interests (319,614 ) (234,423 ) 69,014 172,434 (312,589 ) Less: Net income attributable to non-controlling interests — 7,025 46,616 (46,616 ) 7,025 Net income (loss) attributable to Oasis $ (319,614 ) $ (241,448 ) $ 22,398 $ 219,050 $ (319,614 ) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Revenues Oil and gas revenues $ — $ 455,885 $ — $ 455,885 Purchased oil and gas sales — 35,722 — 35,722 Midstream revenues — 30,172 — 30,172 Well services revenues — 17,428 — 17,428 Total revenues — 539,207 — 539,207 Operating expenses Lease operating expenses — 88,537 — 88,537 Midstream operating expenses — 6,590 — 6,590 Well services operating expenses — 13,570 — 13,570 Marketing, transportation and gathering expenses — 22,990 — 22,990 Purchased oil and gas expenses — 35,982 — 35,982 Production taxes — 39,270 — 39,270 Depreciation, depletion and amortization — 251,957 — 251,957 Exploration expenses — 3,156 — 3,156 Impairment — 5,882 — 5,882 General and administrative expenses 14,599 31,203 — 45,802 Total operating expenses 14,599 499,137 — 513,736 Operating income (loss) (14,599 ) 40,070 — 25,471 Other income (expense) Equity in earnings of subsidiaries 87,978 — (87,978 ) — Net gain on derivative instruments — 106,607 — 106,607 Interest expense, net of capitalized interest (65,857 ) (7,302 ) — (73,159 ) Other expense — (150 ) — (150 ) Total other income 22,121 99,155 (87,978 ) 33,298 Income before income taxes 7,522 139,225 (87,978 ) 58,769 Income tax benefit (expense) 32,871 (51,247 ) — (18,376 ) Net income $ 40,393 $ 87,978 $ (87,978 ) $ 40,393
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2018 Parent/ Combined Combined Non-guarantor Subsidiaries Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income (loss) including non-controlling interests $ (319,614 ) $ (234,423 ) $ 69,014 $ 172,434 $ (312,589 ) Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by operating activities: Equity in earnings (loss) of subsidiaries 245,850 (69,014 ) — (176,836 ) — Depreciation, depletion and amortization — 296,781 13,023 (6,969 ) 302,835 Loss on extinguishment of debt 13,651 — — — 13,651 Gain on sale of properties — (1,954 ) — — (1,954 ) Impairment — 384,228 — — 384,228 Deferred income taxes (20,196 ) (80,097 ) — — (100,293 ) Derivative instruments — 191,401 — — 191,401 Equity-based compensation expenses 13,340 624 166 — 14,130 Deferred financing costs amortization and other 7,892 2,522 104 — 10,518 Working capital and other changes: Change in accounts receivable 96,993 (8,178 ) 29,407 (124,088 ) (5,866 ) Change in inventory — (4,629 ) (92 ) — (4,721 ) Change in prepaid expenses 58 95 420 — 573 Change in other current assets — 111 — — 111 Change in long-term inventory and other assets — (381 ) — — (381 ) Change in accounts payable, interest payable and accrued liabilities 3,335 (90,679 ) 4,105 124,088 40,849 Change in other liabilities — (476 ) — — (476 ) Net cash provided by operating activities 41,309 385,931 116,147 (11,371 ) 532,016 Cash flows from investing activities: Capital expenditures — (381,971 ) (154,988 ) — (536,959 ) Acquisitions — (524,255 ) — — (524,255 ) Proceeds from sale of properties — 2,236 — — 2,236 Derivative settlements — (96,823 ) — — (96,823 ) Advances from joint interest partners — (933 ) — — (933 ) Net cash used in investing activities — (1,001,746 ) (154,988 ) — (1,156,734 ) Cash flows from financing activities: Proceeds from Revolving Credit Facilities — 1,820,000 113,000 — 1,933,000 Principal payments on Revolving Credit Facilities — (1,239,000 ) (26,000 ) — (1,265,000 ) Repurchase of senior unsecured notes (423,143 ) — — — (423,143 ) Proceeds from issuance of senior unsecured convertible notes 400,000 — — — 400,000 Deferred financing costs (6,524 ) (266 ) — — (6,790 ) Purchases of treasury stock (6,064 ) — — — (6,064 ) Distributions to non-controlling interests — 48,911 (55,757 ) — (6,846 ) Investment in subsidiaries / capital contributions from parent (5,619 ) (15,216 ) 9,464 11,371 — Other 38 (125 ) — — (87 ) Net cash provided by (used in) financing activities (41,312 ) 614,304 40,707 11,371 625,070 Increase (decrease) in cash and cash equivalents (3 ) (1,511 ) 1,866 — 352 Cash and cash equivalents at beginning of period 178 15,659 883 — 16,720 Cash and cash equivalents at end of period $ 175 $ 14,148 $ 2,749 $ — $ 17,072 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2017 Parent/ Combined Intercompany Consolidated (In thousands) Cash flows from operating activities: Net income $ 40,393 $ 87,978 $ (87,978 ) $ 40,393 Adjustments to reconcile net income to net cash provided by operating activities: Equity in earnings of subsidiaries (87,978 ) — 87,978 — Depreciation, depletion and amortization — 251,957 — 251,957 Impairment — 5,882 — 5,882 Deferred income taxes (32,871 ) 51,247 — 18,376 Derivative instruments — (106,607 ) — (106,607 ) Equity-based compensation expenses 13,395 428 — 13,823 Deferred financing costs amortization and other 7,470 1,401 — 8,871 Working capital and other changes: Change in accounts receivable 64,504 (19,833 ) (58,414 ) (13,743 ) Change in inventory — (1,007 ) — (1,007 ) Change in prepaid expenses (389 ) 125 — (264 ) Change in other current assets (3 ) 283 — 280 Change in long-term inventory and other assets — (8,768 ) — (8,768 ) Change in accounts payable, interest payable and accrued liabilities 6,185 (53,441 ) 58,414 11,158 Change in other current liabilities — (10,490 ) — (10,490 ) Net cash provided by operating activities 10,706 199,155 — 209,861 Cash flows from investing activities: Capital expenditures — (252,461 ) — (252,461 ) Proceeds from sale of properties — 4,000 — 4,000 Derivative settlements — (8,899 ) — (8,899 ) Advances from joint interest partners — (1,781 ) — (1,781 ) Net cash used in investing activities — (259,141 ) — (259,141 ) Cash flows from financing activities: Proceeds from Oasis Credit Facility — 484,000 — 484,000 Principal payments on Oasis Credit Facility — (429,000 ) — (429,000 ) Purchases of treasury stock (5,451 ) — — (5,451 ) Investment in subsidiaries / capital contributions from parent (5,188 ) 5,188 — — Other (55 ) — — (55 ) Net cash provided by (used in) financing activities (10,694 ) 60,188 — 49,494 Increase in cash and cash equivalents 12 202 — 214 Cash and cash equivalents at beginning of period 166 11,060 — 11,226 Cash and cash equivalents at end of period $ 178 $ 11,262 $ — $ 11,440

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Total revenues	$ 501,337	$ 254,091	$ 922,553	$ 539,207
Exploration and Production [Member]
Disaggregation of Revenue [Line Items]
Total revenues	450,124	226,724	831,832	491,607
Exploration and Production [Member] | Oil Production [Member]
Disaggregation of Revenue [Line Items]
Total revenues	361,254	194,005	684,640	402,599
Exploration and Production [Member] | Purchased Oil Sales [Member]
Disaggregation of Revenue [Line Items]
Total revenues	53,707	7,905	71,695	35,536
Exploration and Production [Member] | Natural Gas, Production [Member]
Disaggregation of Revenue [Line Items]
Total revenues	23,059	15,119	50,021	34,652
Exploration and Production [Member] | Purchased Gas Sales [Member]
Disaggregation of Revenue [Line Items]
Total revenues	496	186	545	186
Exploration and Production [Member] | Natural Gas Liquid Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	11,608	9,509	24,931	18,634
Midstream Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	32,717	15,566	60,639	30,172
Midstream Services [Member] | Purchased Oil Sales [Member]
Disaggregation of Revenue [Line Items]
Total revenues	3,375	0	3,375	0
Midstream Services [Member] | Crude Oil and Natural Gas Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	17,907	3,187	35,936	11,739
Midstream Services [Member] | Water Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	11,435	12,379	21,328	18,433
Well Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	18,496	11,801	30,082	17,428
Well Services [Member] | Hydraulic Fracturing Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	17,390	11,057	27,816	16,213
Well Services [Member] | Equipment Rental Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,106	$ 744	$ 2,266	$ 1,215

Inventory- Schedule of Inventor

Inventory- Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventory
Crude oil inventory	$ 7,000	$ 10,427
Equipment and materials	16,222	8,940
Total inventory	23,222	19,367
Long-term inventory
Linefill in third-party pipelines	12,505	12,200
Long-term inventory	12,505	12,200
Total	$ 35,727	$ 31,567

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 379,026	$ 365,153
Allowance for Doubtful Accounts Receivable, Current	(946)	(1,573)
Accounts Receivable, Net, Current	378,080	363,580
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	250,740	233,660
Joint Interest Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	79,304	73,588
Other Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 48,982	$ 57,905

Fair Value Measurements - Hiera

Fair Value Measurements - Hierarchy of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Level 1 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets	$ 0
Level 2 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets	25
Level 3 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets	0
Fair Value, Measurements, Recurring [Member]
Assets:
Total assets	168	$ 495
Liabilities:
Total liabilities	229,817	135,567
Fair Value, Measurements, Recurring [Member] | Money market funds [Member]
Assets:
Total assets	143	142
Fair Value, Measurements, Recurring [Member] | Commodity derivative instruments [Member]
Assets:
Total assets	25	353
Liabilities:
Total liabilities	229,817	135,567
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets:
Total assets	143	142
Liabilities:
Total liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Money market funds [Member]
Assets:
Total assets	143	142
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets		0
Liabilities:
Total liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets:
Total assets	25	353
Liabilities:
Total liabilities	229,817	135,567
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Money market funds [Member]
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commodity derivative instruments [Member]
Assets:
Total assets		353
Liabilities:
Total liabilities	229,817	135,567
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets:
Total assets	0	0
Liabilities:
Total liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Money market funds [Member]
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring [Member] | 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	Jun. 30, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Derivative credit risk valuation adjustment, derivative liabilities	$ 3.5	$ 2.8

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Outstanding Commodity Derivative Instruments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)MMBTU$ / bbl$ / MMBTUbbl	Jul. 31, 2018$ / bbl
Derivative [Line Items]
Fair value asset | $	$ (229,792)
Crude Oil [Member] | 2018 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	7,745,000
Average swap price (in dollars per barrel)	53.02
Fair value asset | $	$ (133,352)
Crude Oil [Member] | 2018 Basis Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	153,000
Average swap price (in dollars per barrel)	10.50
Fair value asset | $	$ 471
Crude Oil [Member] | 2018 Two-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	549,000
Average floor price (in dollars per barrel)	48.67
Average ceiling price (in dollars per barrel)	53.07
Fair value asset | $	$ (9,479)
Crude Oil [Member] | 2019 Swaps [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	5,613,000
Average swap price (in dollars per barrel)	53.33
Fair value asset | $	$ (69,121)
Crude Oil [Member] | 2019 Basis Swaps [Member] [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	212,000
Average swap price (in dollars per barrel)	10.50
Fair value asset | $	$ 353
Crude Oil [Member] | 2019 Two-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	761,000
Average floor price (in dollars per barrel)	52.03
Average ceiling price (in dollars per barrel)	69.03
Fair value asset | $	$ (2,500)
Crude Oil [Member] | 2019 Three-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	3,368,000
Average sub-floor price (in dollars per barrel)	40.54
Average floor price (in dollars per barrel)	51.03
Average ceiling price (in dollars per barrel)	68.68
Fair value asset | $	$ (12,060)
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 | $	$ (3,557)
Crude Oil [Member] | 2020 Two-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	62,000
Average floor price (in dollars per barrel)	52.50
Average ceiling price (in dollars per barrel)	71.25
Fair value asset | $	$ (30)
Crude Oil [Member] | 2020 Three-way Collars [Member]
Derivative [Line Items]
Total notional amount of oil (in Bbls) | bbl	279,000
Average sub-floor price (in dollars per barrel)	40
Average floor price (in dollars per barrel)	50.56
Average ceiling price (in dollars per barrel)	67.80
Fair value asset | $	$ (876)
Natural Gas [Member] | 2018 Swaps [Member]
Derivative [Line Items]
Total notional amount of natural gas (in MMBtu) | MMBTU	6,440,000
Average swap price (in dollars per barrel) | $ / MMBTU	3.02
Fair value asset | $	$ 403
Natural Gas [Member] | 2018 Basis Swaps [Member]
Derivative [Line Items]
Total notional amount of natural gas (in MMBtu) | MMBTU	1,220,000
Natural Gas [Member] | 2019 Swaps [Member]
Derivative [Line Items]
Total notional amount of natural gas (in MMBtu) | MMBTU	1,353,000
Average swap price (in dollars per barrel) | $ / MMBTU	2.96
Fair value asset | $	$ (44)
Natural Gas [Member] | 2019 Basis Swaps [Member] [Member]
Derivative [Line Items]
Total notional amount of natural gas (in MMBtu) | MMBTU	1,810,000
Subsequent Event [Member] | Natural Gas [Member]
Derivative [Line Items]
Average swap price (in dollars per barrel)		0.06

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gains and Losses from Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gain (loss) on derivative instruments	$ (120,285)	$ 50,532	$ (191,401)	$ 106,607

Derivative Instruments - Sche48

Derivative Instruments - Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Derivative asset, gross amounts recognized	$ 25	$ 353
Derivative liability, gross amount recognized	238,967	137,664
Derivative asset, gross amounts offset	0	0
Derivative liability, gross amounts offset	(9,150)	(2,097)
Derivative asset, net asset	25	353
Derivative liability, net liability	229,817	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	25	9
Derivative asset, gross amounts offset	0	0
Derivative asset, net asset	25	9
Commodity derivative instruments [Member] | Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, gross amount recognized	198,306	117,629
Derivative liability, gross amounts offset	(3,496)	(1,913)
Derivative liability, net liability	194,810	115,716
Commodity derivative instruments [Member] | Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, gross amount recognized	40,661	20,035
Derivative liability, gross amounts offset	(5,654)	(184)
Derivative liability, net liability	$ 35,007	$ 19,851

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Proved oil and gas properties	$ 7,340,228	$ 7,058,782
Less: Accumulated depreciation, depletion, amortization and impairment	(2,532,668)	(2,395,153)
Proved oil and gas properties, net	4,807,560	4,663,629
Unproved oil and gas properties	1,084,606	780,173
Other property and equipment	1,024,104	868,746
Less: Accumulated depreciation	(159,029)	(139,062)
Other property and equipment, net	865,075	729,684
Total property, plant and equipment, net	$ 6,757,241	$ 6,173,486

Property, Plant and Equipment P

Property, Plant and Equipment Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Proved Oil And Gas Properties [Member]
Business Acquisition [Line Items]
Estimate of future asset retirement costs	$ 44	$ 39.9

Acquisition - Additional Inform

Acquisition - Additional Information (Details) - Permian Basin Acquisition [Member] a in Thousands, $ in Thousands	Feb. 14, 2018USD ($)ashares	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)
Business Acquisition [Line Items]
Net acres acquired | a	22
Cash	$ 549,770
Aggregate consideration paid in shares (shares) | shares	46,000,000
Consideration paid to Forge Energy	$ 920,990
Actual total revenue of acquiree included in condensed financials		$ 20,000	$ 31,600
Actual operating income of acquiree included in condensed financials		6,800	10,200
Finite lived intangible asset	$ 1,000
Noncompete Agreements [Member]
Business Acquisition [Line Items]
Useful life of acquired intangible asset	1 year
Amortization of Intangible Assets		$ 300	$ 400

Acquisition - Price Allocation

Acquisition - Price Allocation (Details) - USD ($) $ in Thousands	Feb. 14, 2018	Jun. 30, 2018	Jun. 30, 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
Common stock shares issued (shares)	46,000,000
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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Revenues	$ 501,337	$ 262,991	$ 928,082	$ 553,073
Net income attributable to Oasis	$ (320,204)	$ 23,877	$ (315,073)	$ 51,785
Basic (in usd per share)	$ (1.02)	$ 0.09	$ (1.01)	$ 0.19
Diluted (in usd per share)	$ (1.02)	$ 0.08	$ (1)	$ 0.18

Divestitures and Assets Held 54

Divestitures and Assets Held for Sale (Details) - USD ($) $ in Thousands	Jul. 12, 2018	Jul. 10, 2018	Jul. 31, 2018	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of properties					$ 2,236	$ 4,000
Foreman Butte Divestiture [Member] | Held for Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment loss recorded				$ 383,400
Net book value of assets held for sale				131,576	131,576
Net book value of liabilities held for sale				2,576	2,576
Williston Non-Op Divestiture [Member] | Held for Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net book value of assets held for sale				118,542	118,542
Net book value of liabilities held for sale				$ 1,605	$ 1,605
Subsequent Event [Member] | 2018 Divestitures [Member] | Held for Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of properties			$ 282,500
Subsequent Event [Member] | Williston Non-Op Divestiture [Member] | Held for Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of properties	$ 55,000
Net gain on sale of properties		$ 33,200
Net book value of assets held for sale	33,900
Net book value of liabilities held for sale	$ 400

Divestitures and Assets Held 55

Divestitures and Assets Held for Sale - Schedule of Assets and Liabilities Held for Sale (Details) - Held for Sale [Member] $ in Thousands	Jun. 30, 2018USD ($)
Williston Non-Op Divestiture [Member]
Assets:
Accounts receivable, net	$ 273
Oil and gas properties (successful efforts method)	179,921
Less: accumulated depreciation, depletion, amortization and impairment	(61,652)
Total assets held for sale, net	118,542
Liabilities:
Asset retirement obligations	1,605
Total liabilities held for sale	1,605
Foreman Butte Divestiture [Member]
Assets:
Accounts receivable, net	601
Inventory	866
Oil and gas properties (successful efforts method)	336,604
Other property and equipment	11,865
Less: accumulated depreciation, depletion, amortization and impairment	(218,360)
Total assets held for sale, net	131,576
Liabilities:
Asset retirement obligations	2,576
Total liabilities held for sale	$ 2,576

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Total long-term debt	$ 2,757,481	$ 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	651,000	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	165,000	78,000
Senior Notes [Member]
Debt Instrument [Line Items]
Total principal of senior unsecured notes and revolving line of credit	2,039,409	2,052,950
Less: unamortized deferred financing costs on senior unsecured notes	$ (22,889)	(22,956)
Senior Notes [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	$ 0	54,275
Senior Notes [Member] | 6.50% 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	$ 71,835	395,501
Senior Notes [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	$ 901,480	937,080
Senior Notes [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 Notes [Member] | 6.25% senior unsecured notes due May 1, 2026 [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)	6.25%
Total principal of senior unsecured notes and revolving line of credit	$ 400,000	0
Senior Notes [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	$ (75,039)	$ (80,388)	$ (93,200)

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details)	May 29, 2018USD ($)	May 14, 2018USD ($)	Jun. 30, 2018USD ($)$ / shares	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)day$ / shares	Jun. 30, 2017USD ($)	May 25, 2018USD ($)	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			$ 2,757,481,000		$ 2,757,481,000						$ 2,097,606,000
Payment to redeem outstanding notes					423,143,000	$ 0
Loss on extinguishment of debt			(13,651,000)	$ 0	(13,651,000)	$ 0
Write-off of deferred financing costs					$ 4,000,000
Ownership percentage, guarantors (as percent)					100.00%
Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt, fair value			2,156,000,000		$ 2,156,000,000
Amended Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity			685,000,000		685,000,000
Swingline Loan [Member] | The Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility borrowing base			10,000,000		10,000,000
Line of Credit [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, amount outstanding			14,000,000		14,000,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility amount			$ 2,500,000,000		$ 2,500,000,000
Credit facility borrowing base									$ 1,600,000,000
Line of credit facility, current borrowing capacity									$ 1,350,000,000	$ 1,350,000,000		$ 1,150,000,000
Weighted average interest rate (as percent)			3.80%		3.80%
Line of Credit [Member] | Revolving Credit Facility [Member] | Senior Secured Revolving Line of Credit [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 651,000,000		$ 651,000,000						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			165,000,000		165,000,000						78,000,000
Credit facility borrowing base			200,000,000		200,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt issuance costs			22,889,000		22,889,000						22,956,000
Long-term debt, gross			2,039,409,000		2,039,409,000						2,052,950,000
Debt Instrument, Repurchased Face Amount							$ 390,600,000
Debt Instrument, Repurchase Amount							402,000,000
Senior Notes [Member] | Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Total long-term debt			2,039,400,000		2,039,400,000
Senior Notes [Member] | 2026 Notes [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)								6.25%
Proceeds from Issuance of Debt		$ 394,400,000
Debt issued								$ 400,000,000
Senior Notes [Member] | Notes [Member]
Debt Instrument [Line Items]
Unsecured debt			$ 1,739,400,000		$ 1,739,400,000
Senior Notes [Member] | Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)			6.25%		6.25%
Senior Notes [Member] | Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Stated interest rate (as percent)			6.875%		6.875%
Senior Notes [Member] | 7.25% senior unsecured notes due February 1, 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 0		$ 0						54,275,000
Stated interest rate (as percent)			7.25%		7.25%
Debt issued							31,300,000
Payment to redeem outstanding notes	$ 23,000,000
Debt redemption price (percent)	100.00%
Senior Notes [Member] | 6.50% senior unsecured notes due November 1, 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 71,835,000		$ 71,835,000						395,501,000
Stated interest rate (as percent)			6.50%		6.50%
Debt issued							323,700,000
Senior Notes [Member] | 6.875% senior unsecured notes due March 15, 2022 [Member]
Debt Instrument [Line Items]
Long-term debt, gross			$ 901,480,000		$ 901,480,000						937,080,000
Stated interest rate (as percent)			6.875%		6.875%
Debt issued							$ 35,600,000
Senior Notes [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						366,094,000
Stated interest rate (as percent)			6.875%		6.875%
Senior Notes [Member] | 2.625% senior convertible notes due September 15, 2023 [Member]
Debt Instrument [Line Items]
Debt discount			$ 75,039,000		$ 75,039,000						80,388,000		$ 93,200,000
Long-term debt, gross			$ 300,000,000		$ 300,000,000						$ 300,000,000
Stated interest rate (as percent)			2.625%		2.625%
Debt issued			$ 300,000,000		$ 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		$ 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 Notes [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 Notes [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		$ 10,000,000
OMP Operating, LLC [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility borrowing base			200,000,000		200,000,000
Line of Credit Facility, Maximum Borrowing Capacity, Accordian Feature			$ 400,000,000		$ 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%

Asset Retirement Obligations -

Asset Retirement Obligations - Schedule of Changes in Asset Retirement Obligations (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
December 31, 2017	$ 48,799
Liabilities incurred during period	4,008
Liabilities settled during period	(1)
Accretion expense during period	1,314
Liabilities held for sale(2)	84
Asset Retirement Obligation, Liabilities Held for Sale	(4,167)
June 30, 2018	$ 50,037

Asset Retirement Obligations 59

Asset Retirement Obligations - Additional Information (Details) $ in Millions	Jun. 30, 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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective tax rate (as percent)	(24.20%)	12.40%	(24.30%)	31.30%
Valuation allowance on carryforwards	$ 3.3		$ 3.3		$ 1.2
Increase in valuation allowance			$ 2.1

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	Jun. 30, 2018USD ($)shares	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)day$ / sharesshares	Jun. 30, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expenses						$ 14,130	$ 13,823
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Stock granted (in shares) | shares						2,921,430
Granted, weighted average grant date fair value per unit (in usd per share) | $ / shares						$ 9.61
Equity-based compensation expenses				$ 4,900	$ 4,900	$ 9,600	10,300
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				$ 2,300	$ 2,200	$ 4,200	$ 3,500
Right to received shares of common stock (in shares) | shares				1		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		$ 200
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		$ 200
Vesting period		1 year

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Assumptions (Details) - Performance Share Units [Member] - $ / shares	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Basic weighted average common shares outstanding (in shares)	313,072	233,283	301,652	233,176
Diluted weighted average common shares outstanding (in shares)	313,072	234,917	301,652	236,281
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)	0	1,634	0	3,105

Earnings (Loss) Per Share - S64

Earnings (Loss) Per Share - Schedule of Common Shares Excluded from Diluted Earnings (Loss) per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Anti-dilutive stock-based compensation awards (in shares)	7,515	4,369	7,440	2,957

Business Segment Information -

Business Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2018Segment
Segment Reporting [Abstract]
Number of current operating units	3

Business Segment Information 66

Business Segment Information - Summarized Financial Information of Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues from non-affiliates	$ 501,337	$ 254,091	$ 922,553	$ 539,207
Total revenues	501,337	254,091	922,553	539,207
Operating income (loss)	(242,674)	5,379	(129,689)	25,471
Other income	(174,628)	13,528	(283,073)	33,298
Income (loss) before income taxes	(417,302)	18,907	(412,762)	58,769
Property, plant and equipment, net	6,757,241		6,757,241		$ 6,173,486
Total assets	7,465,335		7,465,335		6,615,130
Exploration and Production [Member]
Segment Reporting Information [Line Items]
Revenues from non-affiliates	450,124	226,724	831,832	491,607
Total revenues	450,124	226,724	831,832	491,607
Midstream Services [Member]
Segment Reporting Information [Line Items]
Revenues from non-affiliates	32,717	15,566	60,639	30,172
Total revenues	72,427	40,312	136,989	77,953
Well Services [Member]
Segment Reporting Information [Line Items]
Revenues from non-affiliates	18,496	11,801	30,082	17,428
Total revenues	59,914	33,451	104,803	54,431
Operating Segments [Member] | Exploration and Production [Member]
Segment Reporting Information [Line Items]
Revenues from non-affiliates	450,124	226,724	831,832	491,607
Operating income (loss)	(280,090)	(17,425)	(200,130)	(16,456)
Other income	(174,572)	13,525	(282,717)	33,292
Income (loss) before income taxes	(454,662)	(3,900)	(482,847)	16,836
Property, plant and equipment, net	6,129,083		6,129,083		5,663,323
Total assets	6,767,902		6,767,902		6,050,255
Operating Segments [Member] | Midstream Services [Member]
Segment Reporting Information [Line Items]
Revenues from non-affiliates	32,717	15,566	60,639	30,172
Operating income (loss)	37,894	23,103	70,132	43,865
Other income	(79)	3	(336)	2
Income (loss) before income taxes	37,815	23,106	69,796	43,867
Property, plant and equipment, net	786,246		786,246		649,923
Total assets	816,422		816,422		663,614
Operating Segments [Member] | Well Services [Member]
Segment Reporting Information [Line Items]
Revenues from non-affiliates	18,496	11,801	30,082	17,428
Operating income (loss)	8,028	1,950	16,178	(1,641)
Other income	23	0	(20)	4
Income (loss) before income taxes	8,051	1,950	16,158	(1,637)
Property, plant and equipment, net	44,319		44,319		46,779
Total assets	48,419		48,419		52,800
Segment Reconciling Items [Member] | Exploration and Production [Member]
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Segment Reconciling Items [Member] | Midstream Services [Member]
Segment Reporting Information [Line Items]
Total revenues	39,710	24,746	76,350	47,781
Segment Reconciling Items [Member] | Well Services [Member]
Segment Reporting Information [Line Items]
Total revenues	41,418	21,650	74,721	37,003
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total revenues	(81,128)	(46,396)	(151,071)	(84,784)
Operating income (loss)	(8,506)	(2,249)	(15,869)	(297)
Other income	0	0	0	0
Income (loss) before income taxes	(8,506)	$ (2,249)	(15,869)	$ (297)
Property, plant and equipment, net	(202,407)		(202,407)		(186,539)
Total assets	$ (167,408)		$ (167,408)		$ (151,539)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) bbl in Millions, Mcf in Millions	Mar. 23, 2017USD ($)	Jun. 30, 2018USD ($)bblMcf
Loss Contingencies [Line Items]
Estimable future commitments under agreements | $		$ 526,600,000
Mirada Litigation [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Damages sought (in excess of) | $	$ 100,000,000
Crude Oil [Member]
Loss Contingencies [Line Items]
Minimum quantity to be delivered or transported		55
Natural Gas Liquids [Member]
Loss Contingencies [Line Items]
Minimum quantity to be delivered or transported		20.3
Natural Gas [Member]
Loss Contingencies [Line Items]
Minimum quantity to be delivered or transported | Mcf		213.2
Fresh Water [Member]
Loss Contingencies [Line Items]
Minimum quantity to be delivered or transported		12.5
Produced Water [Member]
Loss Contingencies [Line Items]
Minimum quantity to be delivered or transported		4.4

Condensed Consolidating Finan68

Condensed Consolidating Financial Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership percentage, guarantors (as percent)	100.00%

Condensed Consolidating Finan69

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 17,072	$ 16,720	$ 11,440	$ 11,226
Accounts receivable, net	378,080	363,580
Accounts receivable - affiliates	0	0
Inventory	23,222	19,367
Prepaid expenses	5,874	7,631
Derivative instruments	0	344
Intangible assets, net	625	0
Other current assets	82	193
Total current assets	424,955	407,835
Property, plant and equipment
Oil and gas properties (successful efforts method)	8,424,834	7,838,955
Other property and equipment	1,024,104	868,746
Less: accumulated depreciation, depletion, amortization and impairment	(2,691,697)	(2,534,215)
Total property, plant and equipment, net	6,757,241	6,173,486
Assets held for sale, net	250,118	0
Investments in and advances to subsidiaries	0	0
Derivative instruments	25	9
Deferred income taxes	0	0
Long-term inventory	12,505	12,200
Other assets	20,491	21,600
Total assets	7,465,335	6,615,130
Current liabilities
Accounts payable	29,988	13,370
Accounts payable - affiliates	0	0
Revenues and production taxes payable	246,215	213,995
Accrued liabilities	320,508	236,480
Accrued interest payable	36,971	38,963
Derivative instruments	194,810	115,716
Advances from joint interest partners	3,983	4,916
Other current liabilities	40	40
Total current liabilities	832,515	623,480
Long-term debt	2,757,481	2,097,606
Deferred income taxes	205,628	305,921
Asset retirement obligations	49,743	48,511
Liabilities held for sale	4,181	0
Derivative instruments	35,007	19,851
Other liabilities	6,529	6,182
Total liabilities	3,891,084	3,101,551
Stockholders’ equity
Capital contributions from affiliates	0	0
Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,501 shares issued and 317,987,427 shares outstanding at June 30, 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: 2,023,074 and 1,331,548 shares at June 30, 2018 and December 31, 2017, respectively	(28,243)	(22,179)
Additional paid-in capital	3,062,861	2,677,217
Retained earnings	398,371	717,985
Oasis share of stockholders’ equity	3,436,143	3,375,691
Non-controlling interests	138,108	137,888
Total stockholders’ equity	3,574,251	3,513,579
Total liabilities and stockholders’ equity	7,465,335	6,615,130
Intercompany Eliminations [Member]
Current assets
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Accounts receivable - affiliates	(433,418)	(557,506)
Inventory	0	0
Prepaid expenses	0	0
Derivative instruments		0
Intangible assets, net	0
Other current assets	0	0
Total current assets	(433,418)	(557,506)
Property, plant and equipment
Oil and gas properties (successful efforts method)	(6,666)	(1,966)
Other property and equipment	(10)	0
Less: accumulated depreciation, depletion, amortization and impairment	0	0
Total property, plant and equipment, net	(6,676)	(1,966)
Assets held for sale, net	0
Investments in and advances to subsidiaries	(5,379,006)	(5,213,108)
Derivative instruments	0	0
Deferred income taxes	(203,764)	(183,568)
Long-term inventory	0	0
Other assets	0	0
Total assets	(6,022,864)	(5,956,148)
Current liabilities
Accounts payable	0	0
Accounts payable - affiliates	(433,418)	(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	(433,418)	(557,506)
Long-term debt	0	0
Deferred income taxes	(203,764)	(183,568)
Asset retirement obligations	0	0
Liabilities held for sale	0
Derivative instruments	0	0
Other liabilities	0	0
Total liabilities	(637,182)	(741,074)
Stockholders’ equity
Capital contributions from affiliates	(3,855,877)	(3,499,626)
Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,501 shares issued and 317,987,427 shares outstanding at June 30, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	0	0
Treasury stock, at cost: 2,023,074 and 1,331,548 shares at June 30, 2018 and December 31, 2017, respectively	0	0
Additional paid-in capital	(9,067)	(8,922)
Retained earnings	(1,176,771)	(1,393,080)
Oasis share of stockholders’ equity	(5,041,715)	(4,901,628)
Non-controlling interests	(343,967)	(313,446)
Total stockholders’ equity	(5,385,682)	(5,215,074)
Total liabilities and stockholders’ equity	(6,022,864)	(5,956,148)
Non-Guarantor Subsidiaries [Member]
Current assets
Cash and cash equivalents	2,749	883
Accounts receivable, net	2,757	834
Accounts receivable - affiliates	54,533	85,818
Inventory	92	0
Prepaid expenses	358	778
Derivative instruments		0
Intangible assets, net	0
Other current assets	0	0
Total current assets	60,489	88,313
Property, plant and equipment
Oil and gas properties (successful efforts method)	0	0
Other property and equipment	813,881	653,928
Less: accumulated depreciation, depletion, amortization and impairment	(47,384)	(34,348)
Total property, plant and equipment, net	766,497	619,580
Assets held for sale, net	0
Investments in and advances to subsidiaries	0	0
Derivative instruments	0	0
Deferred income taxes	0	0
Long-term inventory	0	0
Other assets	1,781	2,013
Total assets	828,767	709,906
Current liabilities
Accounts payable	3,127	0
Accounts payable - affiliates	9,741	11,638
Revenues and production taxes payable	291	0
Accrued liabilities	57,887	58,818
Accrued interest payable	105	114
Derivative instruments	0	0
Advances from joint interest partners	0	0
Other current liabilities	0	0
Total current liabilities	71,151	70,570
Long-term debt	165,000	78,000
Deferred income taxes	0	0
Asset retirement obligations	1,433	1,316
Liabilities held for sale	0
Derivative instruments	0	0
Other liabilities	0	0
Total liabilities	237,584	149,886
Stockholders’ equity
Capital contributions from affiliates	213,179	234,935
Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,501 shares issued and 317,987,427 shares outstanding at June 30, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	0	0
Treasury stock, at cost: 2,023,074 and 1,331,548 shares at June 30, 2018 and December 31, 2017, respectively	0	0
Additional paid-in capital	0	0
Retained earnings	34,037	11,639
Oasis share of stockholders’ equity	247,216	246,574
Non-controlling interests	343,967	313,446
Total stockholders’ equity	591,183	560,020
Total liabilities and stockholders’ equity	828,767	709,906
Parent/Issuer [Member]
Current assets
Cash and cash equivalents	175	178	178	166
Accounts receivable, net	0	0
Accounts receivable - affiliates	328,675	425,668
Inventory	0	0
Prepaid expenses	209	267
Derivative instruments		0
Intangible assets, net	0
Other current assets	0	0
Total current assets	329,059	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
Assets held for sale, net	0
Investments in and advances to subsidiaries	4,925,931	4,790,976
Derivative instruments	0	0
Deferred income taxes	203,764	183,568
Long-term inventory	0	0
Other assets	0	0
Total assets	5,458,754	5,400,657
Current liabilities
Accounts payable	0	0
Accounts payable - affiliates	40,469	34,382
Revenues and production taxes payable	0	0
Accrued liabilities	68	216
Accrued interest payable	36,192	38,796
Derivative instruments	0	0
Advances from joint interest partners	0	0
Other current liabilities	0	0
Total current liabilities	76,729	73,394
Long-term debt	1,941,481	1,949,606
Deferred income taxes	0	0
Asset retirement obligations	0	0
Liabilities held for sale	0
Derivative instruments	0	0
Other liabilities	0	0
Total liabilities	2,018,210	2,023,000
Stockholders’ equity
Capital contributions from affiliates	0	0
Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,501 shares issued and 317,987,427 shares outstanding at June 30, 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: 2,023,074 and 1,331,548 shares at June 30, 2018 and December 31, 2017, respectively	(28,243)	(22,179)
Additional paid-in capital	3,062,861	2,677,217
Retained earnings	402,772	719,951
Oasis share of stockholders’ equity	3,440,544	3,377,657
Non-controlling interests	0	0
Total stockholders’ equity	3,440,544	3,377,657
Total liabilities and stockholders’ equity	5,458,754	5,400,657
Combined Guarantor Subsidiaries [Member]
Current assets
Cash and cash equivalents	14,148	15,659	$ 11,262	$ 11,060
Accounts receivable, net	375,323	362,746
Accounts receivable - affiliates	50,210	46,020
Inventory	23,130	19,367
Prepaid expenses	5,307	6,586
Derivative instruments		344
Intangible assets, net	625
Other current assets	82	193
Total current assets	468,825	450,915
Property, plant and equipment
Oil and gas properties (successful efforts method)	8,431,500	7,840,921
Other property and equipment	210,233	214,818
Less: accumulated depreciation, depletion, amortization and impairment	(2,644,313)	(2,499,867)
Total property, plant and equipment, net	5,997,420	5,555,872
Assets held for sale, net	250,118
Investments in and advances to subsidiaries	453,075	422,132
Derivative instruments	25	9
Deferred income taxes	0	0
Long-term inventory	12,505	12,200
Other assets	18,710	19,587
Total assets	7,200,678	6,460,715
Current liabilities
Accounts payable	26,861	13,370
Accounts payable - affiliates	383,208	511,486
Revenues and production taxes payable	245,924	213,995
Accrued liabilities	262,553	177,446
Accrued interest payable	674	53
Derivative instruments	194,810	115,716
Advances from joint interest partners	3,983	4,916
Other current liabilities	40	40
Total current liabilities	1,118,053	1,037,022
Long-term debt	651,000	70,000
Deferred income taxes	409,392	489,489
Asset retirement obligations	48,310	47,195
Liabilities held for sale	4,181
Derivative instruments	35,007	19,851
Other liabilities	6,529	6,182
Total liabilities	2,272,472	1,669,739
Stockholders’ equity
Capital contributions from affiliates	3,642,698	3,264,691
Common stock, $0.01 par value: 450,000,000 shares authorized; 320,010,501 shares issued and 317,987,427 shares outstanding at June 30, 2018 and 270,627,014 shares issued and 269,295,466 shares outstanding at December 31, 2017	0	0
Treasury stock, at cost: 2,023,074 and 1,331,548 shares at June 30, 2018 and December 31, 2017, respectively	0	0
Additional paid-in capital	9,067	8,922
Retained earnings	1,138,333	1,379,475
Oasis share of stockholders’ equity	4,790,098	4,653,088
Non-controlling interests	138,108	137,888
Total stockholders’ equity	4,928,206	4,790,976
Total liabilities and stockholders’ equity	$ 7,200,678	$ 6,460,715

Condensed Consolidating Finan70

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Balance Sheet - Additional Information (Details) - $ / shares	Jun. 30, 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)	320,010,534	270,627,014
Common stock, shares outstanding (in shares)	317,985,056	269,295,466
Treasury stock, shares (in shares)	2,025,478	1,331,548

Condensed Consolidating Finan71

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues
Total revenues	$ 501,337	$ 254,091	$ 922,553	$ 539,207
Operating expenses
Lease operating expenses	44,141	44,665	88,922	88,537
Marketing, transportation and gathering expenses	22,833	12,039	43,846	22,990
Production taxes	34,026	18,971	65,026	39,270
Depreciation, depletion and amortization	153,570	125,291	302,835	251,957
Exploration expenses	617	1,667	1,386	3,156
Impairment	384,135	3,200	384,228	5,882
General and administrative expenses	28,230	22,626	56,170	45,802
Total operating expenses	745,965	248,712	1,054,196	513,736
Gain on sale of properties	1,954	0	1,954	0
Operating income (loss)	(242,674)	5,379	(129,689)	25,471
Other income (expense)
Equity In Earnings In Subsidiaries	0	0	0	0
Net gain (loss) on derivative instruments	(120,285)	50,532	(191,401)	106,607
Interest expense, net of capitalized interest	(40,910)	(36,838)	(78,056)	(73,159)
Loss on extinguishment of debt	(13,651)	0	(13,651)	0
Other income (expense)	218	(166)	35	(150)
Total other income (expense)	(174,628)	13,528	(283,073)	33,298
Income (loss) before income taxes	(417,302)	18,907	(412,762)	58,769
Income tax benefit (expense)	101,001	(2,339)	100,173	(18,376)
Net income (loss) including non-controlling interests	(316,301)	16,568	(312,589)	40,393
Less: Net income attributable to non-controlling interests	3,903	0	7,025	0
Net income (loss) attributable to Oasis	(320,204)	16,568	(319,614)	40,393
Intercompany Eliminations [Member]
Revenues
Total revenues	(38,133)	0	(72,782)	0
Operating expenses
Lease operating expenses	(13,474)	0	(24,392)	0
Marketing, transportation and gathering expenses	(5,820)	0	(11,479)	0
Production taxes	0	0	0	0
Depreciation, depletion and amortization	(3,643)	0	(6,969)	0
Exploration expenses	0	0	0	0
Impairment	0	0	0	0
General and administrative expenses	(3,117)	0	(6,237)	0
Total operating expenses	(35,480)	0	(68,380)	0
Gain on sale of properties	0		0
Operating income (loss)	(2,653)	0	(4,402)	0
Other income (expense)
Equity In Earnings In Subsidiaries	240,529	(38,875)	176,836	(87,978)
Net gain (loss) on derivative instruments	0	0	0	0
Interest expense, net of capitalized interest	0	0	0	0
Loss on extinguishment of debt	0		0
Other income (expense)	0	0	0	0
Total other income (expense)	240,529	(38,875)	176,836	(87,978)
Income (loss) before income taxes	237,876	(38,875)	172,434	(87,978)
Income tax benefit (expense)	0	0	0	0
Net income (loss) including non-controlling interests	237,876		172,434	(87,978)
Less: Net income attributable to non-controlling interests	(25,042)		(46,616)
Net income (loss) attributable to Oasis	262,918	(38,875)	219,050	(87,978)
Parent/Issuer [Member]
Revenues
Total revenues	0	0	0	0
Operating expenses
Lease operating expenses	0	0	0	0
Marketing, transportation and gathering expenses	0	0	0	0
Production taxes	0	0	0	0
Depreciation, depletion and amortization	0	0	0	0
Exploration expenses	0	0	0	0
Impairment	0	0	0	0
General and administrative expenses	7,496	7,534	14,728	14,599
Total operating expenses	7,496	7,534	14,728	14,599
Gain on sale of properties	0		0
Operating income (loss)	(7,496)	(7,534)	(14,728)	(14,599)
Other income (expense)
Equity In Earnings In Subsidiaries	(278,014)	38,875	(245,850)	87,978
Net gain (loss) on derivative instruments	0	0	0	0
Interest expense, net of capitalized interest	(33,135)	(33,006)	(65,581)	(65,857)
Loss on extinguishment of debt	(13,651)		(13,651)
Other income (expense)	0	0	0	0
Total other income (expense)	(324,800)	5,869	(325,082)	22,121
Income (loss) before income taxes	(332,296)	(1,665)	(339,810)	7,522
Income tax benefit (expense)	12,092	18,233	20,196	32,871
Net income (loss) including non-controlling interests	(320,204)		(319,614)	40,393
Less: Net income attributable to non-controlling interests	0		0
Net income (loss) attributable to Oasis	(320,204)	16,568	(319,614)	40,393
Combined Guarantor Subsidiaries [Member]
Revenues
Total revenues	472,912	254,091	867,356	539,207
Operating expenses
Lease operating expenses	57,615	44,665	113,314	88,537
Marketing, transportation and gathering expenses	28,653	12,039	55,325	22,990
Production taxes	34,026	18,971	65,026	39,270
Depreciation, depletion and amortization	150,554	125,291	296,781	251,957
Exploration expenses	617	1,667	1,386	3,156
Impairment	384,135	3,200	384,228	5,882
General and administrative expenses	17,954	15,092	35,632	31,203
Total operating expenses	745,059	241,178	1,049,328	499,137
Gain on sale of properties	1,954		1,954
Operating income (loss)	(270,193)	12,913	(180,018)	40,070
Other income (expense)
Equity In Earnings In Subsidiaries	37,485	0	69,014	0
Net gain (loss) on derivative instruments	(120,285)	50,532	(191,401)	106,607
Interest expense, net of capitalized interest	(7,592)	(3,832)	(12,030)	(7,302)
Loss on extinguishment of debt	0		0
Other income (expense)	218	(166)	35	(150)
Total other income (expense)	(90,174)	46,534	(134,382)	99,155
Income (loss) before income taxes	(360,367)	59,447	(314,400)	139,225
Income tax benefit (expense)	88,909	(20,572)	79,977	(51,247)
Net income (loss) including non-controlling interests	(271,458)		(234,423)	87,978
Less: Net income attributable to non-controlling interests	3,903		7,025
Net income (loss) attributable to Oasis	(275,361)	38,875	(241,448)	87,978
Non-Guarantor Subsidiaries [Member]
Revenues
Total revenues	66,558		127,979
Operating expenses
Lease operating expenses	0		0
Marketing, transportation and gathering expenses	0		0
Production taxes	0		0
Depreciation, depletion and amortization	6,659		13,023
Exploration expenses	0		0
Impairment	0		0
General and administrative expenses	5,897		12,047
Total operating expenses	28,890		58,520
Gain on sale of properties	0		0
Operating income (loss)	37,668		69,459
Other income (expense)
Equity In Earnings In Subsidiaries	0		0
Net gain (loss) on derivative instruments	0		0
Interest expense, net of capitalized interest	(183)		(445)
Loss on extinguishment of debt	0		0
Other income (expense)	0		0
Total other income (expense)	(183)		(445)
Income (loss) before income taxes	37,485		69,014
Income tax benefit (expense)	0		0
Net income (loss) including non-controlling interests	37,485		69,014
Less: Net income attributable to non-controlling interests	25,042		46,616
Net income (loss) attributable to Oasis	12,443		22,398
Oil and Gas [Member]
Revenues
Total revenues	395,921	218,633	759,592	455,885
Oil and Gas [Member] | Intercompany Eliminations [Member]
Revenues
Total revenues	0	0	0	0
Oil and Gas [Member] | Parent/Issuer [Member]
Revenues
Total revenues	0	0	0	0
Oil and Gas [Member] | Combined Guarantor Subsidiaries [Member]
Revenues
Total revenues	395,921	218,633	759,592	455,885
Oil and Gas [Member] | Non-Guarantor Subsidiaries [Member]
Revenues
Total revenues	0		0
Purchased Oil and Gas Sales [Member]
Revenues
Total revenues	57,578	8,091	75,615	35,722
Operating expenses
Expenses	57,165	7,980	75,163	35,982
Purchased Oil and Gas Sales [Member] | Intercompany Eliminations [Member]
Revenues
Total revenues	0	0	0	0
Operating expenses
Expenses	0	0	0	0
Purchased Oil and Gas Sales [Member] | Parent/Issuer [Member]
Revenues
Total revenues	0	0	0	0
Operating expenses
Expenses	0	0	0	0
Purchased Oil and Gas Sales [Member] | Combined Guarantor Subsidiaries [Member]
Revenues
Total revenues	57,578	8,091	75,615	35,722
Operating expenses
Expenses	57,165	7,980	75,163	35,982
Purchased Oil and Gas Sales [Member] | Non-Guarantor Subsidiaries [Member]
Revenues
Total revenues	0		0
Operating expenses
Expenses	0		0
Midstream Services [Member]
Revenues
Total revenues	29,342	15,566	57,264	30,172
Operating expenses
Expenses	7,688	3,263	15,673	6,590
Midstream Services [Member] | Intercompany Eliminations [Member]
Revenues
Total revenues	(38,133)	0	(72,782)	0
Operating expenses
Expenses	(9,426)	0	(19,303)	0
Midstream Services [Member] | Parent/Issuer [Member]
Revenues
Total revenues	0	0	0	0
Operating expenses
Expenses	0	0	0	0
Midstream Services [Member] | Combined Guarantor Subsidiaries [Member]
Revenues
Total revenues	917	15,566	2,067	30,172
Operating expenses
Expenses	780	3,263	1,526	6,590
Midstream Services [Member] | Non-Guarantor Subsidiaries [Member]
Revenues
Total revenues	66,558		127,979
Operating expenses
Expenses	16,334		33,450
Well Services [Member]
Revenues
Total revenues	18,496	11,801	30,082	17,428
Operating expenses
Expenses	13,560	9,010	20,947	13,570
Well Services [Member] | Intercompany Eliminations [Member]
Revenues
Total revenues	0	0	0	0
Operating expenses
Expenses	0	0	0	0
Well Services [Member] | Parent/Issuer [Member]
Revenues
Total revenues	0	0	0	0
Operating expenses
Expenses	0	0	0	0
Well Services [Member] | Combined Guarantor Subsidiaries [Member]
Revenues
Total revenues	18,496	11,801	30,082	17,428
Operating expenses
Expenses	13,560	$ 9,010	20,947	$ 13,570
Well Services [Member] | Non-Guarantor Subsidiaries [Member]
Revenues
Total revenues	0		0
Operating expenses
Expenses	$ 0		$ 0

Condensed Consolidating Finan72

Condensed Consolidating Financial Information - Schedule of Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ (316,301)	$ 16,568	$ (312,589)	$ 40,393
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	0	0
Depreciation, depletion and amortization	153,570	125,291	302,835	251,957
Loss on extinguishment of debt	13,651	0	13,651	0
Gain on sale of properties	(1,954)	0	(1,954)	0
Impairment	384,135	3,200	384,228	5,882
Deferred income taxes			(100,293)	18,376
Derivative instruments	120,285	(50,532)	191,401	(106,607)
Equity-based compensation expenses			14,130	13,823
Deferred financing costs amortization and other			10,518	8,871
Working capital and other changes:
Change in accounts receivable			(5,866)	(13,743)
Change in inventory			(4,721)	(1,007)
Change in prepaid expenses			573	(264)
Change in other current assets			111	280
Change in long-term inventory and other assets			(381)	(8,768)
Change in accounts payable, interest payable and accrued liabilities			40,849	11,158
Change in other current liabilities			0	(10,490)
Change in other liabilities			(476)	0
Net cash provided by operating activities			532,016	209,861
Cash flows from investing activities:
Capital expenditures			(536,959)	(252,461)
Acquisitions			(524,255)	0
Proceeds from sale of properties			2,236	4,000
Derivative settlements			(96,823)	(8,899)
Advances from joint interest partners			(933)	(1,781)
Net cash used in investing activities			(1,156,734)	(259,141)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities			1,933,000	484,000
Principal payments on revolving credit facility			(1,265,000)	(429,000)
Repurchase of senior unsecured notes			(423,143)	0
Proceeds from issuance of senior unsecured notes			400,000	0
Deferred financing costs			(6,790)	0
Purchases of treasury stock			(6,064)	(5,451)
Distributions to non-controlling interests			(6,846)	0
Investment in / capital contributions from subsidiaries			0	0
Other			(87)	(55)
Net cash provided by financing activities			625,070	49,494
Increase in cash and cash equivalents			352	214
Beginning of period			16,720	11,226
End of period	17,072	11,440	17,072	11,440
Intercompany Eliminations [Member]
Cash flows from operating activities:
Net income (loss)	237,876		172,434	(87,978)
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	(240,529)	38,875	(176,836)	87,978
Depreciation, depletion and amortization	(3,643)	0	(6,969)	0
Loss on extinguishment of debt	0		0
Gain on sale of properties	0		0
Impairment	0	0	0	0
Deferred income taxes			0	0
Derivative instruments	0	0	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			(124,088)	(58,414)
Change in inventory			0	0
Change in prepaid expenses			0	0
Change in other current assets			0	0
Change in long-term inventory and other assets			0	0
Change in accounts payable, interest payable and accrued liabilities			124,088	58,414
Change in other current liabilities				0
Change in other liabilities			0
Net cash provided by operating activities			(11,371)	0
Cash flows from investing activities:
Capital expenditures			0	0
Acquisitions			0
Proceeds from sale of properties			0	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
Repurchase of senior unsecured notes			0
Proceeds from issuance of senior unsecured notes			0
Deferred financing costs			0
Purchases of treasury stock			0	0
Distributions to non-controlling interests			0
Investment in / capital contributions from subsidiaries			11,371	0
Other			0	0
Net cash provided by financing activities			11,371	0
Increase in cash and cash equivalents			0	0
Beginning of period			0	0
End of period	0	0	0	0
Parent/Issuer [Member]
Cash flows from operating activities:
Net income (loss)	(320,204)		(319,614)	40,393
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	278,014	(38,875)	245,850	(87,978)
Depreciation, depletion and amortization	0	0	0	0
Loss on extinguishment of debt	13,651		13,651
Gain on sale of properties	0		0
Impairment	0	0	0	0
Deferred income taxes			(20,196)	(32,871)
Derivative instruments	0	0	0	0
Equity-based compensation expenses			13,340	13,395
Deferred financing costs amortization and other			7,892	7,470
Working capital and other changes:
Change in accounts receivable			96,993	64,504
Change in inventory			0	0
Change in prepaid expenses			58	(389)
Change in other current assets			0	(3)
Change in long-term inventory and other assets			0	0
Change in accounts payable, interest payable and accrued liabilities			3,335	6,185
Change in other current liabilities				0
Change in other liabilities			0
Net cash provided by operating activities			41,309	10,706
Cash flows from investing activities:
Capital expenditures			0	0
Acquisitions			0
Proceeds from sale of properties			0	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
Repurchase of senior unsecured notes			(423,143)
Proceeds from issuance of senior unsecured notes			400,000
Deferred financing costs			(6,524)
Purchases of treasury stock			(6,064)	(5,451)
Distributions to non-controlling interests			0
Investment in / capital contributions from subsidiaries			(5,619)	(5,188)
Other			38	(55)
Net cash provided by financing activities			(41,312)	(10,694)
Increase in cash and cash equivalents			(3)	12
Beginning of period			178	166
End of period	175	178	175	178
Combined Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	(271,458)		(234,423)	87,978
Adjustments to reconcile net income (loss) including non-controlling interests to net cash provided by (used in) operating activities:
Equity in earnings of subsidiaries	(37,485)	0	(69,014)	0
Depreciation, depletion and amortization	150,554	125,291	296,781	251,957
Loss on extinguishment of debt	0		0
Gain on sale of properties	(1,954)		(1,954)
Impairment	384,135	3,200	384,228	5,882
Deferred income taxes			(80,097)	51,247
Derivative instruments	120,285	(50,532)	191,401	(106,607)
Equity-based compensation expenses			624	428
Deferred financing costs amortization and other			2,522	1,401
Working capital and other changes:
Change in accounts receivable			(8,178)	(19,833)
Change in inventory			(4,629)	(1,007)
Change in prepaid expenses			95	125
Change in other current assets			111	283
Change in long-term inventory and other assets			(381)	(8,768)
Change in accounts payable, interest payable and accrued liabilities			(90,679)	(53,441)
Change in other current liabilities				(10,490)
Change in other liabilities			(476)
Net cash provided by operating activities			385,931	199,155
Cash flows from investing activities:
Capital expenditures			(381,971)	(252,461)
Acquisitions			(524,255)
Proceeds from sale of properties			2,236	4,000
Derivative settlements			(96,823)	(8,899)
Advances from joint interest partners			(933)	(1,781)
Net cash used in investing activities			(1,001,746)	(259,141)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities			1,820,000	484,000
Principal payments on revolving credit facility			(1,239,000)	(429,000)
Repurchase of senior unsecured notes			0
Proceeds from issuance of senior unsecured notes			0
Deferred financing costs			(266)
Purchases of treasury stock			0	0
Distributions to non-controlling interests			48,911
Investment in / capital contributions from subsidiaries			(15,216)	5,188
Other			(125)	0
Net cash provided by financing activities			614,304	60,188
Increase in cash and cash equivalents			(1,511)	202
Beginning of period			15,659	11,060
End of period	14,148	$ 11,262	14,148	$ 11,262
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	37,485		69,014
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	6,659		13,023
Loss on extinguishment of debt	0		0
Gain on sale of properties	0		0
Impairment	0		0
Deferred income taxes			0
Derivative instruments	0		0
Equity-based compensation expenses			166
Deferred financing costs amortization and other			104
Working capital and other changes:
Change in accounts receivable			29,407
Change in inventory			(92)
Change in prepaid expenses			420
Change in other current assets			0
Change in long-term inventory and other assets			0
Change in accounts payable, interest payable and accrued liabilities			4,105
Change in other liabilities			0
Net cash provided by operating activities			116,147
Cash flows from investing activities:
Capital expenditures			(154,988)
Acquisitions			0
Proceeds from sale of properties			0
Derivative settlements			0
Advances from joint interest partners			0
Net cash used in investing activities			(154,988)
Cash flows from financing activities:
Proceeds from Revolving Credit Facilities			113,000
Principal payments on revolving credit facility			(26,000)
Repurchase of senior unsecured notes			0
Proceeds from issuance of senior unsecured notes			0
Deferred financing costs			0
Purchases of treasury stock			0
Distributions to non-controlling interests			(55,757)
Investment in / capital contributions from subsidiaries			9,464
Other			0
Net cash provided by financing activities			40,707
Increase in cash and cash equivalents			1,866
Beginning of period			883
End of period	$ 2,749		$ 2,749