Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources. 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 but not limited to, the Bakken, Three Forks, Madison, and Red River formations. The company’s total leasehold position in the Williston Basin consisted of 505,503 net acres as of December 31, 2014. Its estimated net proved reserves in the Williston Basin were 272.1 million barrels of oil equivalent. The company’s Williston Basin activities are evaluated in two primary areas of operations, such as West Williston and East Nesson. West Williston The company controls 357,584 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, 2014, the company had an average working interest of 57% and operated 95% of its 443.9 net producing wells in the West Williston project area. East Nesson The company controls 147,919 net acres in the East Nesson project area, primarily in Mountrail and Burke counties in North Dakota. As of December 31, 2014, the company had an average working interest of 54% and operated 96% of its 185.1 net producing wells in the East Nesson project area, all of which are producing out of the Bakken and Three Forks formations. During the year ended December 31, 2014, the company’s total completions were 101 gross (61.3 net) horizontal Bakken and Three Forks wells in the East Nesson project area. As of December 31, 2014, the company was participating in the drilling or completion of 43 gross (26.9 net) wells in this project area. 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. For the year ended December 31, 2014, sales to Musket Corporation accounted for approximately 13% of the company’s total sales. Dispositions In 2014, the company completed the sale of certain non-operated properties in its Sanish project area. The company’s properties in this project area, located in Mountrail County in North Dakota, were entirely operated by other operators. Business Strategy The company’s strategies are to efficiently develop its Williston Basin leasehold position; adopt and employ leading drilling and completion techniques; and pursue strategic acquisitions with significant resource potential. Regulation 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 subject to the requirements of the Resource Conservation and Recovery Act, as amended, and comparable state statutes. The underground injection well program under the Safe Drinking Water Act requires permits from the U.S. Environmental Protection Agency or analogous state agency for disposal wells that the company operates, establishes minimum standards for injection well operations and restricts the types and quantities of fluids that might be injected. The company is subject to various federal and state laws and regulations, including the federal Occupational Safety and Health Act, as amended, and comparable state statutes, whose purpose is to protect the health and safety of workers. History Oasis Petroleum Inc. was founded in 2007. The company was incorporated in 2010 pursuant to the laws of the state of Delaware.
oasis petroleum inc (OAS:New York)
1001 Fannin Street
Houston, TX 77002
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