Larger completion jobs are the order of the day for Williston Basin pure-play operator Oasis Petroleum Inc., which plans to continue testing different completion techniques and use more sand in a bid to grow production over the next two years.
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Oasis Lauds Completion Design Testing, Increases Wild Basin Type Curves
Williston pure-play operator Oasis Petroleum Inc. said completion design testing has yielded positive results so far, with type curves in the Wild Basin, part of the Bakken Shale, increasing to an estimated ultimate recovery (EUR) of 1.55 million boe, up from 1.2 million boe.
Oasis to Acquire Assets in Williston For $785M, Announces Stock Offering
Williston pure-play operator Oasis Petroleum Inc. said it will acquire 55,000 net acres in the basin, including 226 gross operated drilling locations, from SM Energy Co. for $785 million. It plans to offer 40 million shares of common stock to help finance the deal.
Production Still Flat, But Oasis Eyeing DUCs For Future Growth
Although production remained essentially flat for the seventh consecutive quarter, Oasis Petroleum Inc. said that if commodity prices recover it could dip into its inventory of drilled but uncompleted wells (DUC) to create double-digit oil production growth over the next two years.
Oasis Cuts Capex, Will Run Two Rigs in Bakken Core in 2016
Williston pure-play operator Oasis Petroleum Inc. cut its capital expenditures (capex) budget by more than one-third and plans to run a two-rig drilling program in 2016, after beating its production guidance for 4Q2015 and the year and seeing its lease operating expenses (LOE) for the quarter hit their lowest level since 2012.
Oasis Petroleum Exceeds Expectations in Bakken; Keeps Three Rigs Going
In the midst of a downturn in activity in the Bakken Shale, Houston-based Oasis Petroleum reported beating expectations for the third quarter, hitting 50,546 boe/d for the period, a 10% jump over the same period last year.
Oasis Sets Lower Capex, Less Drilling in Bakken For 2015
Oasis Petroleum Inc. plans to cut capital expenditures (capex) by 44% in 2015 and slash the number of rigs deployed in its core area of the Bakken Shale. However, it still expects to boost production in the coming year by 5-10%.
Oasis to Ramp Up Production, Sell Sanish Assets in 2014
Oasis Petroleum Inc. plans to spend $1.43 billion on capital expenditures (capex) and ramp up production in the Bakken Shale and Three Forks formation in 2014, but it will sell more than 8,000 net acres both in and adjacent to its Sanish operating area for $333 million by March.
Oasis Cuts Drilling Costs with Efficiencies
Continued drilling efficiency improvements are driving record production growth in the Williston Basin’s Bakken Shale and helping to push down costs, according to top Oasis Petroleum executive.
Oasis Grows Williston Position by Nearly 50% for $1.52B
Oasis Petroleum Inc. is acquiring 161,000 net acres in the Williston Basin for nearly $1.52 billion in four separate transactions, which will grow its Williston position to 492,000 net acres with 43,000 boe/d of production and 215.6 million boe of proved reserves.