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Fly News Breaks for August 23, 2019
OAS
Aug 23, 2019 | 08:21 EDT
As previously reported, MKM Partners analyst John Gerdes initiated Oasis Petroleum with a Buy rating and a price target of $5, citing its position as an "oil-dominant" producer in the Williston and Delaware Basin. The analyst notes that his composite cost-of-capital model values Oasis Petroleum's business at about 7-times expected cash generation for 2020, and his 2019 production expectation of 88.5MMBOE/d is at the high end of the company's expected range of 86.8-88.5 MMBOE/d.
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