Oasis Petroleum Settles in For Lower for Longer, Keeps Rig Activity Lower
Oasis Petroleum (NYSE: OAS) is a pure play operator in the Williston basin having about 485,000 net acres. The company expects production to be in the range of 48.5 to 49.5 Mboepd for 2016 which was increased since the previous guidance. Oasis has cut capital expenditures by just over half for the 2016 year down to $200 million for drilling and completion activity. The company expects to spend another $200 million on midstream services and other expenses. Year to date...