Oasis Petroleum Inc. and Oasis Midstream Partners LP (OMP) on Monday announced a simplification agreement through which OMP is acquiring the producer’s remaining interests in two development companies or “DevCos” that own midstream infrastructure assets in the Bakken Shale and Permian Basin. The agreement follows Oasis’ restructuring and emergence from bankruptcy last November. OMP is…
Articles from Oasis
Houston-based Oasis Petroleum Inc., which works the Permian and Williston basins, has completed a financial restructuring and emerged from bankruptcy. The independent, which filed for Chapter 11 protection in late September, said it has reduced its prepetition debt by $1.8 billion. It is trading on Nasdaq under “OAS.” “Oasis is now uniquely positioned with a…
Houston-based operators Oasis Petroleum Inc., a Lower 48 explorer, and oilfield services (OFS) giant Superior Energy Services on Wednesday filed for voluntary bankruptcy protection to restructure and shrink their considerable debt loads. Oasis, whose exploration and production operations are focused on the Permian and Williston basins, sought voluntary Chapter 11 protection in U.S. Bankruptcy Court…
Houston-based Oasis Petroleum Inc. completed multiple bolt-on acquisitions during the third quarter in order to beef up its assets in the Permian Basin’s Delaware sub-basin.
Oasis Petroleum Inc., a newcomer to the Permian Basin, plans to dedicate acreage in the Delaware sub-basin to its midstream subsidiary for crude oil and produced water infrastructure development, but is holding firm on drilling and completion activity despite improving commodity prices.
Oasis Petroleum Inc. said it expects production to be essentially flat entering into 2019, and plans to use cash flow from its assets in the Williston Basin to fund a small outspend in the Permian’s Delaware sub-basin.
Houston-based Oasis Petroleum Inc. said it plans to add a fifth operated rig to the Williston Basin next month, and will target multiple zones of the Permian Basin’s Wolfcamp and Third Bone Spring formations for development next year, where it also may add a third rig next summer.
Oasis Petroleum Inc. said it plans to spend an additional $80 million this year on capital expenditures (capex) in the Williston Basin, home to most of its assets, as it looks to take advantage of existing infrastructure and better price differentials than those in the Permian Basin’s Delaware sub-basin, where it holds fewer assets and takeaway capacity is constrained.
Oasis Petroleum Inc. has signed two separate agreements to sell 65,000 net acres in the Williston Basin for $283 million as part of a broader push to monetize noncore assets there this year.
Oasis Petroleum Inc., until now a pure-play operator in the Williston Basin, is ready to make a splash in the Permian Basin, after agreeing to acquire more than 20,000 net acres in the oil window of the Delaware sub-basin in a cash-and-stock deal valued at $946 million.