Type Public company Industry Petroleum industry Founded 2007 | Traded as NYSE: OAS Products Petroleum
Natural gas Subsidiaries Oasis Petroleum LLC | |
 | ||
Key people Thomas B. Nusz, CEO
Taylor L. Reid, President Production output 50 thousand barrels of oil equivalent (310,000 GJ) per day Stock price OAS (NYSE) US$ 12.58 -0.34 (-2.63%)21 Mar, 4:02 PM GMT-4 - Disclaimer Headquarters Houston, Texas, United States Founders Taylor L. Reid, Thomas B. Nusz | ||
Oasis Petroleum Inc. is a petroleum and natural gas exploration and production company headquartered in Houston, Texas, with an office in Williston, North Dakota.
Contents
17 june 2011 oasis petroleum rings the nyse opening bell
Current operations
The company develops unconventional oil and natural gas oilfields in the Bakken formation and Three Forks Shale of Montana and North Dakota.
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.
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.
In 2010, the company became a public company via an initial public offering which raised over $400 million.
The company raised additional equity and debt in 2012-2015 to expand operations.
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.