November 3, 2015 / 9:27 PM / 2 years ago

Oasis Petroleum quarterly profit drops 78 percent

Nov 3 (Reuters) - North Dakota oil producer Oasis Petroleum Inc said on Tuesday its quarterly profit fell 78 percent due to plunging crude prices.

For the third quarter, the company posted net income of $27.1 million, or 20 cents per share, compared with $121.6 million, or $1.21 per share, in the year-ago period.

Production rose 10 percent to 50,546 barrels of oil equivalent per day (boe/d). (Reporting by Ernest Scheyder; Editing by Bernard Orr)

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