Oasis Petroleum
| 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 |
| Products |
Petroleum Natural gas |
Production output | 50 thousand barrels of oil equivalent (310,000 GJ) per day[1] |
| Revenue |
 -US$789 million (2015) [1] |
|
-US$114 million (2015) [1] | |
|
-US$40 million (2015) [1] | |
| Total assets |
US$5.649 billion (2015) [1] |
| Total equity |
US$2.319 billion (2015) [1] |
Number of employees | 535 (2015)[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, 2015, the company had 218.2 million barrels of oil equivalent (1.335×109 GJ) of estimated proved reserves, of which 85% was oil and 15% 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
- 1 2 3 4 5 6 7 8 Oasis Petroleum 2015 Form 10-K
- 1 2 "Oasis Petroleum Rises After Second-Biggest 2010 IPO". Bloomberg. June 17, 2010.
- 1 2 About Oasis
- ↑ "Why North Dakota’s oil fields are so deadly for workers". PBS. June 24, 2015.
