Chord Energy (CHRD) - 2021 Q2 - Quarterly Report

PART I — FINANCIAL INFORMATION Presents the company's unaudited condensed consolidated financial statements and related disclosures for the reporting period Item 1. — Financial Statements (Unaudited) Presents unaudited condensed consolidated financial statements, including balance sheets, operations, equity, cash flows, and comprehensive notes Condensed Consolidated Balance Sheets Provides a snapshot of the company's financial position, detailing assets, liabilities, and equity at specific points in time | Metric | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :----------------------------- | :----------------------------- | :------------------------------- | | Total Assets | $2,936,716 | $2,159,037 | | Total Liabilities | $1,914,943 | $1,146,298 | | Cash and cash equivalents | $388,915 | $15,856 | | Long-term debt | $1,044,474 | $710,000 | | Total Stockholders' Equity | $1,021,773 | $1,012,739 | Condensed Consolidated Statements of Operations Reports the company's financial performance over specific periods, including revenues, expenses, and net income or loss Three Months Ended June 30 | Metric | 2021 (Successor) (in thousands) | 2020 (Predecessor) (in thousands) | | :-------------------------------------- | :------------------------------ | :-------------------------------- | | Total Revenues | $393,060 | $166,352 | | Operating Income (Loss) | $375,573 | $(11,224) | | Net Income (Loss) Attributable to Oasis | $73,364 | $(92,943) | | Basic EPS | $3.69 | $(0.29) | Six Months Ended June 30 | Metric | 2021 (Successor) (in thousands) | 2020 (Predecessor) (in thousands) | | :-------------------------------------- | :------------------------------ | :-------------------------------- | | Total Revenues | $748,519 | $554,150 | | Operating Income (Loss) | $526,408 | $(4,873,752) | | Net Income (Loss) Attributable to Oasis | $29,772 | $(4,403,804) | | Basic EPS | $1.49 | $(13.90) | Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) Details the changes in the company's equity accounts over a period, reflecting net income, dividends, and stock transactions | Metric | June 30, 2021 (Successor) (in thousands) | December 31, 2020 (Successor) (in thousands) | | :---------------------------------------- | :--------------------------------------- | :------------------------------------------- | | Total Stockholders' Equity | $1,021,773 | $1,012,739 | | Net income (loss) attributable to Oasis (Q2 2021) | $73,364 | N/A | | Special dividend declared (Q2 2021) | $(82,958) | N/A | | Repurchase of common stock (Q2 2021) | $(14,560) | N/A | | Issuance of OMP common units, net of offering costs (Q2 2021) | $86,657 | N/A | Condensed Consolidated Statements of Cash Flows Summarizes the cash inflows and outflows from operating, investing, and financing activities over a specific period | Metric | Six Months Ended June 30, 2021 (Successor) (in thousands) | Six Months Ended June 30, 2020 (Predecessor) (in thousands) | | :--------------------------------------------------- | :-------------------------------------------------------- | :-------------------------------------------------------- | | Net cash provided by operating activities | $350,363 | $59,895 | | Net cash provided by (used in) investing activities | $46,750 | $(112,434) | | Net cash provided by financing activities | $371,576 | $109,928 | | Increase in cash, cash equivalents and restricted cash | $768,689 | $57,389 | Notes to Condensed Consolidated Financial Statements Provides detailed explanations and supplementary information for the figures presented in the primary financial statements 1. Organization and Operations of the Company Describes the company's business, operational focus, and significant structural changes during the reporting period - Oasis Petroleum Inc. is an independent exploration and production (E&P) company focused on onshore, unconventional crude oil and natural gas resources in the Williston Basin (North Dakota and Montana)[21] - The company operates a midstream business segment through Oasis Midstream Partners LP (OMP), owning approximately 70% of OMP as of June 30, 2021[21][22] - During the second quarter of 2021, the company sold its E&P assets in the Texas region of the Permian Basin[21] 2. Summary of Significant Accounting Policies Outlines the key accounting principles and methods applied in preparing the financial statements, including fresh start accounting - The company adopted fresh start accounting on November 19, 2020 (Emergence Date) following bankruptcy, making financial statements after this date (Successor) not comparable to prior periods (Predecessor)[24] - Oasis consolidates OMP, recognizing a non-controlling interest for public unitholders, as Oasis has authority to direct OMP's economic performance[22] - A Midstream Simplification was completed on March 30, 2021, involving the contribution of remaining Bobcat DevCo and Beartooth DevCo interests to OMP for approximately $512.5 million (cash and OMP common units) and the cancellation of OMP's incentive distribution rights[22] 3. Revenue Recognition Details the company's policies and breakdown of revenue streams from E&P and midstream operations, including performance obligations Total E&P Revenues | Period | 2021 (Successor) (in thousands) | 2020 (Predecessor) (in thousands) | | :------------------------- | :------------------------------ | :-------------------------------- | | Three Months Ended June 30 | $328,987 | $121,826 | | Six Months Ended June 30 | $611,685 | $453,213 | Total Midstream Revenues | Period | 2021 (Successor) (in thousands) | 2020 (Predecessor) (in thousands) | | :------------------------- | :------------------------------ | :-------------------------------- | | Three Months Ended June 30 | $64,073 | $44,526 | | Six Months Ended June 30 | $136,834 | $100,937 | Remaining Performance Obligations (as of June 30, 2021) | Year | Amount (in thousands) | | :--- | :-------------------- | | 2021 | $8,376 | | 2022 | $17,175 | | 2023 | $10,896 | | 2024 | $11,089 | | 2025 | $2,768 | | Total | $50,304 | 4. Inventory Presents the composition and valuation of the company's current and long-term inventory, including equipment and crude oil Total Inventory (Current & Long-term) | Category | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :------------------------------ | :--------------------------- | :------------------------------- | | Equipment and materials | $21,827 | $25,103 | | Crude oil inventory | $11,006 | $8,826 | | Linefill in third party pipelines (long-term) | $8,683 | $14,522 | | Total | $41,516 | $48,451 | 5. Additional Balance Sheet Information Provides further detail on specific balance sheet accounts such as accounts receivable and accrued liabilities Accounts Receivable, net | Category | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :-------------------------- | :--------------------------- | :------------------------------- | | Trade accounts | $228,518 | $161,519 | | Joint interest accounts | $41,422 | $31,920 | | Other accounts | $32,953 | $13,206 | | Less: allowance for credit losses | $(387) | $(106) | | Total accounts receivable, net | $302,506 | $206,539 | Accrued Liabilities | Category | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :------------------------------------ | :--------------------------- | :------------------------------- | | Accrued capital costs | $49,914 | $39,380 | | Accrued dividends payable | $83,543 | — | | Total accrued liabilities | $223,119 | $126,284 | 6. Fair Value Measurements Explains the methodologies and inputs used to determine the fair value of financial assets and liabilities, particularly derivatives Fair Value of Financial Assets and Liabilities (June 30, 2021) | Category | Level 2 (in thousands) | Total (in thousands) | | :------------------------------------------ | :--------------------- | :------------------- | | Permian Basin Sale Contingent Consideration (Assets) | $32,860 | $32,860 | | Commodity derivative instruments (Liabilities) | $381,649 | $381,649 | Fair Value of Financial Assets and Liabilities (December 31, 2020) | Category | Level 2 (in thousands) | Total (in thousands) | | :------------------------------------------ | :--------------------- | :------------------- | | Commodity derivative instruments (Assets) | $467 | $467 | | Commodity derivative instruments (Liabilities) | $94,558 | $94,558 | - Commodity derivative instruments are valued using mark-to-market reports and readily available market prices, incorporating credit adjustments for non-performance risk[45][47] - Permian Basin Sale Contingent Consideration was valued at $32.9 million using a Monte Carlo simulation model with Level 2 inputs[48] 7. Derivative Instruments Discusses the company's use of derivative instruments to manage commodity price risk and their financial impact - The company uses fixed price swaps and collars to manage crude oil and natural gas price risks, not for speculative trading, with all derivatives recorded at fair value[50] - In May 2021, the company paid $82.4 million to modify certain crude oil swap contracts, adjusting prices to $50.00/Bbl for 2022-2024 volumes[51] Net Gain (Loss) on Derivative Instruments | Period | 2021 (Successor) (in thousands) | 2020 (Predecessor) (in thousands) | | :------------------------- | :------------------------------ | :-------------------------------- | | Three Months Ended June 30 | $(267,037) | $(37,187) | | Six Months Ended June 30 | $(448,552) | $248,135 | Outstanding Commodity Derivative Instruments (June 30, 2021) | Commodity | Settlement Period | Instrument | Volumes | Weighted Average Price | Fair Value (Liabilities) (in thousands) | | :---------- | :---------------- | :--------- | :------ | :--------------------- | :-------------------------------------- | | Crude oil | 2021 | Fixed price swaps | 5,307,000 Bbl | $42.09 | $(154,623) | | Crude oil | 2022 | Fixed price swaps | 7,245,000 Bbl | $49.02 | $(120,533) | | Crude oil | 2023 | Fixed price swaps | 5,265,000 Bbl | $50.00 | $(53,619) | | Natural gas | 2021 | Fixed price swaps | 7,360,000 MMBtu | $2.84 | $(5,889) | 8. Property, Plant and Equipment Details the carrying values of the company's proved oil and gas properties and other property, plant, and equipment Total Property, Plant and Equipment, net | Category | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :------------------------------------ | :--------------------------- | :------------------------------- | | Proved oil and gas properties, net | $610,174 | $757,714 | | Other property and equipment, net | $915,902 | $930,862 | | Total | $1,554,685 | $1,728,787 | 9. Acquisitions Describes significant acquisition activities, including the Williston Basin Acquisition, and their financial implications - On May 3, 2021, Oasis Petroleum North America LLC agreed to acquire approximately 95,000 net acres in the Williston Basin for $745.0 million in cash[58] - A deposit of $74.5 million was paid, and the Williston Basin Acquisition is expected to close late in the third quarter of 2021[58] 10. Divestitures Outlines significant divestiture activities, including the Permian Basin Sale, and the resulting gains and cash proceeds - The company completed the Primary Permian Basin Sale on June 29, 2021, for up to $450.0 million, consisting of $375.0 million cash and up to three $25.0 million earn-out payments contingent on NYMEX WTI crude oil prices exceeding $60/Bbl for 2023-2025[59] - Cash proceeds received from the Primary Permian Basin Sale were $347.3 million, and an additional $19.4 million was received from the Additional Permian Basin Sale[59] - A total gain of $222.5 million from the Permian Basin Sale was recognized for the three and six months ended June 30, 2021[59] - The company also sold certain well services equipment and inventory for $5.5 million on March 22, 2021[60] 11. Long-Term Debt Provides details on the company's long-term debt structure, including credit facilities and senior notes, and their terms Total Long-Term Debt, net | Category | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :--------------------------- | :--------------------------- | :------------------------------- | | Oasis Credit Facility | — | $260,000 | | Oasis Senior Notes | $391,087 | — | | OMP Credit Facility | $213,000 | $450,000 | | OMP Senior Notes | $440,387 | — | | Total long-term debt, net | $1,044,474 | $710,000 | - The Oasis Credit Facility had a borrowing base of $400.0 million and an unused capacity of $398.7 million at June 30, 2021, with the borrowing base expected to increase to $650.0 million upon the Williston Basin Acquisition closing[63] - Oasis issued $400.0 million of 6.375% senior unsecured notes due June 1, 2026, with proceeds restricted for funding a portion of the Williston Basin Acquisition[67] - OMP issued $450.0 million of 8.00% senior unsecured notes due April 1, 2029, using proceeds for a $231.5 million distribution to Oasis and repayment of $204.0 million on the OMP Credit Facility[71] 12. Asset Retirement Obligations Presents the balance and changes in the company's asset retirement obligations, reflecting environmental liabilities Asset Retirement Obligations (ARO) Balance | Metric | June 30, 2021 (Successor) (in thousands) | December 31, 2020 (Successor) (in thousands) | | :--------------------------------- | :--------------------------------------- | :------------------------------------------- | | Balance | $46,064 | $48,594 | | Liabilities settled through divestitures | $(4,845) | N/A | | Accretion expense during period | $2,043 | N/A | 13. Income Taxes Discusses the company's effective tax rates, deferred tax assets, and the utilization of net operating loss carryforwards Effective Tax Rates (Successor) | Period | Effective Tax Rate | | :------------------------- | :----------------- | | Three Months Ended June 30 | 4.3% | | Six Months Ended June 30 | (0.2)% | - The effective tax rates were lower than the statutory federal rate of 21% primarily due to a valuation allowance against net deferred tax assets[74] - The company expects to qualify for and utilize the exception under Section 382(l)(5) of the Code for its net operating loss carryforwards (NOLs), anticipating no cash taxes for the 2021 tax year[74] 14. Equity-Based Compensation Details the types of equity awards granted under the company's incentive plan and the associated compensation expenses - The company grants Restricted Stock Units (RSUs), Performance Share Units (PSUs), Leveraged Stock Units (LSUs), and restricted stock awards under its 2020 Long Term Incentive Plan (LTIP)[75][77] Equity-Based Compensation Expense (Successor, Q2 2021) | Award Type | Expense (in millions) | | :-------------------- | :-------------------- | | Restricted Stock Units | $1.4 | | Performance Share Units | $1.0 | | Leveraged Stock Units | $2.0 | | Restricted Stock Awards | $0.3 | - Total equity-based compensation expenses for the six months ended June 30, 2021, were $6.9 million (Successor), compared to $11.7 million (Predecessor) for the same period in 2020[16][81] 15. Stockholders' Equity Reports on changes in stockholders' equity, including dividends, share repurchases, and equity offerings by OMP - The company declared two regular dividends of $0.375 per share ($7.5 million each) and a special dividend of $4.00 per share ($83.0 million payable) in Q2 2021[82] - A share repurchase program of up to $100.0 million was authorized in March 2021, with $14.6 million (190,783 shares) repurchased by June 30, 2021[82] - OMP completed an equity offering of 3,623,188 common units for $86.7 million, which was used to redeem an equal number of common units held by Oasis for $87.0 million, resulting in Oasis owning approximately 70% of OMP's outstanding common units[84] - Subsequent to June 30, 2021, the Board adopted a Tax Benefits Preservation Plan to protect the availability of the company's Net Operating Losses (NOLs) and other tax attributes[84] 16. Earnings (Loss) Per Share Presents the basic and diluted earnings per share calculations and the factors affecting share count Earnings (Loss) Per Share | Metric | Q2 2021 (Successor) | YTD Q2 2021 (Successor) | Q2 2020 (Predecessor) | YTD Q2 2020 (Predecessor) | | :---------- | :------------------ | :---------------------- | :-------------------- | :------------------------ | | Basic EPS | $3.69 | $1.49 | $(0.29) | $(13.90) | | Diluted EPS | $3.52 | $1.46 | $(0.29) | $(13.90) | - Weighted average basic shares outstanding for Q2 2021 were 19,904 thousand, and diluted shares were 20,822 thousand[85] - Potentially dilutive shares were excluded from diluted EPS calculations when their effect was anti-dilutive, particularly during net loss periods[85] 17. Business Segment Information Provides financial data broken down by the company's E&P and Midstream operating segments - The company operates two reportable segments: E&P (acquisition and development of oil and gas properties) and Midstream (natural gas gathering, compression, processing, water services)[86] Segment Financial Information (Successor, Three Months Ended June 30, 2021) | Segment | Revenues from non-affiliates (in thousands) | Operating income (loss) (in thousands) | | :-------- | :------------------------------------------ | :------------------------------------- | | E&P | $328,987 | $337,188 | | Midstream | $64,073 | $39,990 | Segment Financial Information (Successor, Six Months Ended June 30, 2021) | Segment | Revenues from non-affiliates (in thousands) | Operating income (loss) (in thousands) | | :-------- | :------------------------------------------ | :------------------------------------- | | E&P | $611,685 | $440,368 | | Midstream | $136,834 | $88,657 | 18. Commitments and Contingencies Discloses the company's outstanding letters of credit, surety bonds, volume commitments, and legal proceedings - As of June 30, 2021, the company had $6.8 million in outstanding letters of credit and $7.5 million in net surety bond exposure[90] - Volume commitment agreements related to the divested Permian Basin properties were assigned to Percussion, eliminating the company's future obligations[90] - A $2.4 million deficiency fee was recorded for a volume shortfall under certain commitment agreements[90] - Subsequent to June 30, 2021, a new estimable future commitment of $149.6 million for crude oil transport became effective with a remaining term of approximately 7 years[90] - The Mirada litigation settlement was fully paid by May 2021, with no remaining settlement payments outstanding[92] Item 2. — Management's Discussion and Analysis of Financial Condition and Results of Operations Management discusses financial condition, operational results, recent developments, market conditions, liquidity, capital resources, and non-GAAP measures CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Warns readers about the inherent uncertainties and risks associated with forward-looking statements contained within the report - This report contains forward-looking statements subject to risks and uncertainties, including those related to the COVID-19 pandemic, commodity prices, and economic conditions[96] - Key factors that could cause actual results to vary include changes in crude oil and natural gas prices, weather, capital expenditures, acquisitions, reserves, operational factors, capital markets, transportation, environmental regulations, and litigation[99] Overview Provides a high-level description of the company's core business, operational focus, and recent strategic divestitures - Oasis Petroleum Inc. is an independent E&P company focused on unconventional crude oil and natural gas resources in the Williston Basin[101] - The company operates a midstream business through Oasis Midstream Partners LP (OMP), owning OMP's general partner and approximately 70% of OMP[101] - Oasis sold its E&P assets in the Texas region of the Permian Basin during the second quarter of 2021[101] Recent Developments Highlights key corporate events, including acquisitions, divestitures, leadership changes, and market condition impacts - The company entered into an agreement on May 3, 2021, for the Williston Basin Acquisition, acquiring approximately 95,000 net acres for $745.0 million, expected to close late in Q3 2021[102] - The Permian Basin Sale closed on June 29, 2021, for up to $450.0 million, including $347.3 million in cash proceeds (Primary Sale) and $19.4 million (Additional Sale)[103][104] - Daniel E. Brown was appointed Chief Executive Officer on April 13, 2021[105] - The Midstream Simplification was completed on March 30, 2021, involving the contribution of DevCo interests to OMP and elimination of incentive distribution rights for approximately $512.5 million[108] - OMP completed an equity offering and unit redemption on June 29, 2021, resulting in Oasis owning approximately 70% of OMP's outstanding common units[109] - Market conditions have improved but remain uncertain due to COVID-19, leading to workforce reductions and enhanced safety protocols[110] Results of Operations Analyzes the company's financial performance, detailing changes in revenues, expenses, and other income/loss items - Financial statements for the Successor period (post-November 19, 2020) are not comparable to the Predecessor period due to fresh start accounting[114] Revenues (Q2 2021 vs. Q1 2021) | Revenue Type | Q2 2021 (in thousands) | Q1 2021 (in thousands) | Change (in thousands) | | :-------------------------- | :--------------------- | :--------------------- | :-------------------- | | Crude oil and natural gas | $255,227 | $245,461 | +$9,766 | | Purchased oil and gas sales | $81,855 | $48,460 | +$33,395 | | Midstream revenues | $55,783 | $61,312 | $(5,529) | | Total Revenues | $393,060 | $355,459 | +$37,601 | Revenues (YTD Q2 2021 vs. YTD Q2 2020) | Revenue Type | YTD Q2 2021 (in thousands) | YTD Q2 2020 (in thousands) | Change (in thousands) | | :-------------------------- | :------------------------- | :------------------------- | :-------------------- | | Crude oil and natural gas | $500,688 | $332,958 | +$167,730 | | Midstream revenues | $117,095 | $91,185 | +$25,910 | | Total Revenues | $748,519 | $554,150 | +$194,369 | - Average daily production decreased by 2,934 Boepd to 54,271 Boepd quarter-over-quarter, primarily due to natural decline in crude oil production[119] - Impairment expense decreased by $4.8 billion for the six months ended June 30, 2021, compared to the same period in 2020, with no material asset impairment charges in 2021[130] - A $223.0 million net gain on sale of properties was recognized for the three months ended June 30, 2021, primarily from the Permian Basin Sale[122][131] Liquidity and Capital Resources Assesses the company's ability to meet its short-term and long-term financial obligations, including cash, borrowing capacity, and capital expenditures - As of June 30, 2021, the company had $1,419.1 million in total liquidity, comprising $388.9 million in cash and cash equivalents and $630.2 million in aggregate unused borrowing capacity[135] - The company has $400.0 million of restricted cash held to fund a portion of the Williston Basin Acquisition[135] - Net cash provided by operating activities increased significantly to $350.4 million for the six months ended June 30, 2021, driven by higher revenues and lower expenses[140][141] Capital Expenditures (Six Months Ended June 30, 2021) | Category | Amount (in thousands) | | :--------------------------- | :-------------------- | | E&P and other capital expenditures | $82,024 | | Midstream capital expenditures | $13,651 | | Total capital expenditures | $95,675 | - The company declared a special dividend of $4.00 per share, payable on July 21, 2021, and repurchased $14.6 million of common stock in Q2 2021 as part of a $100.0 million program[147][148] Non-GAAP Financial Measures Explains and reconciles non-GAAP financial metrics used by management to evaluate operational performance and financial health - The company uses supplemental non-GAAP financial measures, such as E&P Adjusted Gas Revenue, Cash GPT, E&P GPT, E&P Cash G&A, Cash Interest, E&P Cash Interest, Adjusted EBITDA, Adjusted EBITDA attributable to Oasis, and E&P Free Cash Flow, to provide additional insights into its operations and financial performance[151][152][153][154][158][161] Key Non-GAAP Financial Measures (Six Months Ended June 30, 2021, Successor) | Metric | Amount (in thousands) | | :---------------------------------- | :-------------------- | | E&P Adjusted Gas Revenue | $87,045 | | Cash GPT | $37,305 | | E&P Cash G&A | $25,008 | | Adjusted EBITDA attributable to Oasis | $233,051 | | E&P Free Cash Flow | $148,332 | Item 3. — Quantitative and Qualitative Disclosures About Market Risk Details the company's exposure to commodity price, interest rate, and credit risks, and how these are managed through derivatives - The company is exposed to commodity price risk (crude oil, natural gas, NGLs), interest rate risk, and counterparty and customer credit risk, which are managed through risk management programs including derivative instruments[166][168] - At June 30, 2021, the company had a net derivative liability position of $381.6 million. A 10% increase in crude oil prices would decrease its fair value by approximately $169.4 million, while a 10% decrease would increase it by approximately $163.5 million[170] - Earn-out payments from the Permian Basin Sale are contingent on NYMEX WTI crude oil prices exceeding $60 per barrel for 2023, 2024, and 2025[169] - Interest rate risk is present with fixed-rate Oasis Senior Notes (6.375%) and OMP Senior Notes (8.00%), and variable rates on the Oasis and OMP Credit Facilities[171] - Counterparty credit risk for derivative arrangements is mitigated by contracting with high credit-quality financial institutions and spreading exposure across several institutions[173] Item 4. — Controls and Procedures Management confirmed effective disclosure controls and procedures with no material changes in internal control over financial reporting - The company's disclosure controls and procedures were evaluated and deemed effective as of June 30, 2021[174] - There were no material changes in the company's internal control over financial reporting during the quarter ended June 30, 2021[175] PART II — OTHER INFORMATION Contains additional information not covered in the financial statements, including legal proceedings, risk factors, and equity sales Item 1. — Legal Proceedings This section refers to Note 18 — Commitments and Contingencies for a discussion of material legal proceedings the company is involved in during the ordinary course of business - Material legal proceedings are discussed in Note 18 — Commitments and Contingencies[178] Item 1A. — Risk Factors Highlights business risks, particularly the potential inability to utilize Net Operating Losses (NOLs) and other tax attributes - A key risk is the potential inability to utilize Net Operating Losses (NOLs) and other tax attributes to offset future taxable income for U.S. federal or state tax purposes, which could adversely affect financial position, results of operations, and cash flows[180] - The company believes it qualifies for the Section 382(l)(5) exception, which allows for no limitations on Tax Benefits going forward, but future ownership changes could still limit their use[180] - A Tax Benefits Preservation Plan has been adopted to protect the availability of these Tax Benefits, but there is no assurance against future ownership changes[180] Item 2. — Unregistered Sales of Equity Securities and Use of Proceeds Reports no unregistered equity sales and details share repurchase activities, including 190,783 shares bought for $14.6 million - No unregistered sales of equity securities occurred during the period[182] Issuer Purchases of Equity Securities (Three Months Ended June 30, 2021) | Period | Total Number of Shares Purchased | | :----------------------- | :----------------------------- | | May 1 – May 31, 2021 | 190,783 | | Total | 190,783 | - The repurchases were part of a $100.0 million share-repurchase program authorized in March 2021, expiring on December 31, 2022[182] Item 6. — Exhibits Lists all exhibits filed with the Form 10-Q, including various agreements related to acquisitions, divestitures, and debt facilities, as well as employment agreements, Sarbanes-Oxley certifications, and XBRL interactive data files - Exhibits include Purchase and Sale Agreements for the Williston Basin Acquisition and Permian Basin Sale[183] - Amendments to the Oasis Credit Agreement and OMP Credit Facility, along with commitment letters and purchase agreements for senior notes, are filed[183] - Employment agreements, Sarbanes-Oxley certifications (Sections 302 and 906), and XBRL interactive data files are also included[183][185] SIGNATURES Confirms the official signing and certification of the report by the company's authorized executive officers - The report was signed on August 5, 2021, by Daniel E. Brown, Chief Executive Officer, and Michael H. Lou, Executive Vice President and Chief Financial Officer[192]