HOUSTON, April 16, 2012 /PRNewswire via COMTEX/ -- Oasis Petroleum Inc. (OAS, Trade ) ("Oasis" or the "Company") today provided an update on its operations in the Williston Basin. Oasis increased average daily production to 17,633 barrels of oil equivalent per day ("Boepd") in the first quarter of 2012, up from 15,243 Boepd in the fourth quarter of 2011 for an increase of 16%. During the first quarter of 2012, Oasis grew production by 118% compared to the first quarter of 2011.
"Our first quarter production outpaced expectations, as our team brought on production a record 26 gross operated wells during the quarter," said Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer. "The weather in the Williston Basin was much milder compared to last year, aiding in our ability to accomplish this tremendous growth. Additionally, we continue to make substantial strides on infrastructure development, and we achieved a significant milestone in completing our first frac job with Oasis Well Services."
OAS: Very strong production growth
OAS: Very strong production growth
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group