Oasis Midstream Partners LP (NYSE:OMP) Q4 2019 Earnings Conference Call - Final Transcript
Feb 26, 2020 • 12:30 pm ET
Taylor L. Reid
yield represent a compelling value to customers. We've greatly exceeded expectations since going public and look forward to continuing our track record of success.
Our gas complex is operating smoothly and volumes increased significantly over 2019. In the fourth quarter, third-party volumes approximated 30% of Bighorn total volumes. While you've seen the other plant start-up in recent months, overall processing in the Williston Basin remains tight. Gas captured in the basin was only 83% in the fourth quarter, but with our Wild Basin infrastructure in place, we were able to capture 97% of gas volumes for Oasis in the Wild Basin area.
North Dakota mandates 88% capture, which is scheduled to increase to 91% in November of this year. North Dakota gas production continues to hit new records and averaged over 3.08 Bcf per day in the fourth quarter, while basin processing ended the year at 3.16 Bcf per day. Gas production continues to grow in the basin, so total capacity will likely remain tight even with new projects online.
We continue to remain active with multiple parties regarding additional opportunities as we seek to reduce overall flaring in the Williston, while capitalizing on our strategic investment. Separately, in the Delaware, OMP's infrastructure a strong competitive positioning and is in close proximity to several regional oil hubs. We already signed our first third-party deal this year and think there is an opportunity to do a lot more.
I'll now turn the call over to Michael to go over a little more detail on our operations.
Michael H. Lou
Thanks, Taylor. OMP remains focused on executing our plan and adding value to its unitholders. Our sponsored plans include two rig programs in both the Williston and Delaware in 2020. In the Williston, a significant amount of activity is expected in OMP-dedicated areas including Wild Basin and Indian Hills. In the Delaware, our sponsor will begin to ramp up production in OMP-dedicated areas as well. Additionally, third-party business continues to be a significant contributor to our volumes and cash flow.
I'll give a bit more color on the fourth quarter before diving into 2020 projections. At Bighorn, both crude and gas volumes exceeded the top-end of guidance during the quarter, reflecting strong volumes from our sponsor and third-parties, as well as high utilization at our gas complex. Utilization for the gas complex was around 80% for the fourth quarter. At the Bobcat DevCo, volumes exceeded guidance across the board. And at Beartooth, water volumes were within our guidance range.
Looking forward to 2020, we provided a preliminary EBITDA range suggesting double-digit growth year-over-year. While we've exceeded our expectations on this front for multiple years, we typically take a conservative approach to guidance and challenge the team to deliver above and beyond our plan.
On a quarterly basis, we would expect first quarter EBITDA to decline a bit versus the fourth quarter, reflecting typical seasonality of the Williston and well timing in the Permian. In the second quarter and beyond, volumes and EBITDA should ramp significantly,