Oasis Petroleum

Oasis Petroleum Inc.
Public
Traded as
Industry Petroleum industry
Founded 2007 (2007)
Founder Thomas B. Nusz
Taylor L. Reid
Headquarters Houston, Texas
Key people
 Thomas B. Nusz, Chairman & CEO
Taylor L. Reid, President
Michael H. Lou, CFO
Products Petroleum
Natural gas
Production output
 66 thousand barrels of oil equivalent (400,000 GJ) per day
Revenue Increase $1.248 billion (2017)
Increase $0.123 billion (2017)
Total assets Increase $6.615 billion (2017)
Total equity Increase $3.513 billion (2017)
Number of employees
 585 (2017)
Website oasispetroleum.com
Footnotes / references
[1]

Oasis Petroleum is a petroleum and natural gas exploration and production company organized in Delaware and headquartered in Houston, Texas, with an office in Williston, North Dakota.

Current operations

The company develops unconventional oil and natural gas oilfields in the Bakken Formation, Three Forks Shale [1], and most recently in the Delaware Basin of West Texas. [2]

As of December 31, 2017, the company had 312 million barrels of oil equivalent (1.91×109 GJ) of estimated proved reserves, of which 78% was petroleum and 22% was natural gas.[1]

Oasis Petroleum is one of only a few oil producers that operates its own hydraulic fracturing operations, creating valuable cost savings in oil field development.

History

In February 2007, the company was founded by Thomas B. Nusz and Taylor L. Reid and was financed by EnCap Investments.[3]

In June 2007, the company acquired 175,000 net acres and 1 thousand barrels of oil equivalent (6,100 GJ) per day of production in Williston, North Dakota for $83 million.[3]

In 2008-2009, the company acquired an additional 131,000 net acres and 1.1 thousand barrels of oil equivalent (6,700 GJ) per day of production nearby for $54 million.[3]

In 2010, the company became a public company via an initial public offering which raised over $400 million.[4]

In 2011, an employee on one of the company's oilfields died due to an accident.[5]

In 2013, the company acquired 161,000 net acres in the Williston Basin for $1.5 billion.[6]

In 2016, the company acquired 55,000 net acres and 226 gross operated drilling locations in the Williston Basin from SM Energy for $785 million.[7]

In 2017, the company completed an initial public offering of its midstream operations.[8][9]

In 2017, the company acquired 20,300 net acres in the Delaware Basin for $946 million. [10]

References

  1. 1 2 3 "Oasis Petroleum Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Oasis Petroleum Buys Delaware Basin Assets in $946 Million Deal". YOURBASIN. 2017-12-11. Retrieved 2018-06-03.
  3. 1 2 3 "Oasis Petroleum Inc. COMMON STOCK 42,000,000 shares". U.S. Securities and Exchange Commission. June 16, 2010.
  4. ↑ "Oasis Petroleum prices IPO at $14/shr". Reuters. June 24, 2010.
  5. ↑ DONOVAN, LAUREN (September 16, 2011). "Two dead, two injured in oil well explosion near Williston". The Bismarck Tribune.
  6. ↑ "Oasis Petroleum adding to its Williston basin assets". Oil & Gas Journal. September 5, 2013.
  7. ↑ Zborowski, Matt (October 18, 2016). "Oasis to buy Williston assets from SM Energy for $785 million". Oil & Gas Journal.
  8. ↑ "Oasis Midstream Partners LP Launches Initial Public Offering" (Press release). PR Newswire. September 11, 2017.
  9. ↑ Pulsinelli, Olivia (September 21, 2017). "Oasis Petroleum's MLP Oasis Midstream Partners prices IPO below". American City Business Journals.
  10. ↑ "Oasis Petroleum Buys Delaware Basin Assets in $946 Million Deal". YOURBASIN. 2017-12-11. Retrieved 2018-06-03.
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