Oasis Petroleum Misses Debt Payments After Bankruptcy Warning

Oasis Petroleum Inc. skipped payments due Sept. 15 on some of its debt, becoming the latest oil and gas producer to flirt with bankruptcy amid a prolonged price slump.

The company owed interest on $244.8 million of convertible notes and $834.5 million of unsecured notes maturing in 2022, according to Bloomberg data. Oasis Petroleum has 30 days to make good on the missed payments before a formal default.

A representative for Houston-based Oasis didn’t immediately respond to a request for comment.

Led by Chief Executive Officer Thomas B. Nusz, Oasis has failed to post an annual net profit since ...