HOUSTON (AP) _ Oasis Petroleum Inc. (OAS) on Wednesday reported a fourth-quarter loss of $54.7 million, after reporting a profit in the same period a year earlier.
The Houston-based company said it had a loss of 25 cents per share. Losses, adjusted for non-recurring costs, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The oil and gas exploration and production company posted revenue of $218 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $202.3 million.
For the year, the company reported that its loss widened to $243 million, or $1.32 per share. Revenue was reported as $704.7 million.
Oasis shares have fallen nearly 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.66, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OAS at https://www.zacks.com/ap/OAS
Keywords: Oasis Petroleum, Earnings Report