Oasis Petroleum Inc., an exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources. As of December 31, 2013, the company’s net proved reserves included 227.9 MMBoe (one million barrels of oil equivalent). Core Project Areas Williston Basin The company’s operations are focused in the North Dakota and Montana areas of the Williston Basin. The entire Williston Basin is spread across North Dakota, South Dakota, Montana and parts of southern Canada. The basin produces oil and natural gas from various producing horizons including the Bakken, Three Forks, Madison and Red River formations. The company’s total leasehold position in the Williston Basin, as of December 31, 2013, consisted of 515,314 net acres. The company’s Williston Basin activities are evaluated in three primary areas of operations: West Williston, East Nesson and Sanish. West Williston The company controls 361,626 net acres in the West Williston project area, primarily in Williams and McKenzie counties in North Dakota and Roosevelt and Richland counties in Montana. As of December 31, 2013, the company had an average working interest of 58% and operated 95% of its 352.8 net producing wells in the West Williston project area. East Nesson The company controls 145,345 net acres in the East Nesson project area, primarily in Mountrail and Burke counties in North Dakota. As of December 31, 2013, the company had an average working interest of 49% and operated 93% of its 123.7 net producing wells in the East Nesson project area, all of which are producing out of the Bakken and Three Forks formations. Sanish The company has 8,343 net acres in the Sanish project area, all of which are located in Mountrail County in North Dakota. As of December 31, 2013, the company had an average working interest of 8% in its 25.0 net wells in the Sanish project area. The company’s properties in this project area are entirely operated by other operators. Business Strategy The company’s strategy includes the following elements: developing Williston basin leasehold position; enhancing returns by focusing on operational and cost efficiencies; adopting and employing drilling and completion techniques; pursuing strategic acquisitions with significant resource potential; and maintaining financial flexibility. Customers The company principally sells its oil and natural gas production to refiners, marketers and other purchasers that have access to nearby pipeline and rail facilities. The company’s major customer includes Musket Corporation. Seasonality Winter weather conditions and lease stipulations can limit or temporarily halt the company’s drilling and producing activities and other oil and natural gas operations. Regulations The company is required to observe anti-market manipulation laws and related regulations enforced by the Federal Energy Regulatory Commission and/or the Commodity Futures Trading Commission and the Federal Trade Commission. The company is also subject to the requirements of the Resource Conservation and Recovery Act, as amended, and comparable state statutes. The company is subject to various federal and state laws and regulations, including the federal Occupational Safety and Health Act, as amended (OSHA), and comparable state statutes, whose purpose is to protect the health and safety of workers. History Oasis Petroleum Inc. was founded in 2007.
oasis petroleum inc (OAS:New York)
1001 Fannin Street
Houston, TX 77002
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