Oasis Petroleum

Oasis Petroleum Inc.

Type	Public company
Traded as	NYSE: OAS
Industry	Petroleum industry
Founded	2007
Founder	Thomas B. Nusz & Taylor L. Reid
Headquarters	Houston, Texas
Key people	Thomas B. Nusz, CEO Taylor L. Reid, President[1]
Products	Petroleum Natural gas
Production output	50 thousand barrels of oil equivalent (310,000 GJ) per day
Revenue	-US$704 million (2016) [1]
Operating income	-US$130 million (2016) [1]
Net income	-US$243 million (2016) [1]
Total assets	US$6.178 billion (2016) [1]
Total equity	US$2.923 billion (2016) [1]
Number of employees	477 (2016)[1]
Website	oasispetroleum.com

Oasis Petroleum Inc. is a petroleum and natural gas exploration and production company 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 and Three Forks Shale of Montana and North Dakota.^[2]

As of December 31, 2016, the company had 305 million barrels of oil equivalent (1.87×10⁹ GJ) of estimated proved reserves, of which 78% was petroleum and 22% was natural gas.^[1]

History

In 2007, the company was founded by Thomas B. Nusz and Taylor L. Reid and bought 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. In 2008, the company bought 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. ^[2]

The company raised additional equity and debt in 2012-2015 to expand operations.^[3]

Controversies

Employee death

An employee on one of the company's oilfields, hired via a contractor named Carlson Well Service, died due to an accident. The company paid an undisclosed amount in a settlement to his family.^[4]

References