HOUSTON (AP) _ Oasis Petroleum Inc. (OAS) on Tuesday reported a loss of $41.2 million in its third quarter.
On a per-share basis, the Houston-based company said it had a loss of 18 cents. Earnings, adjusted for non-recurring costs, were less than 1 cent on a per-share basis.
The average estimate of 16 analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The oil and gas exploration and production company posted revenue of $304.7 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $262 million.
Oasis shares have dropped 28 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.89, a climb of almost 1 percent in the last 12 months.