http://finance.yahoo.com/news/oasis-pet ... 00295.html
Achievements in 2012 include:
Increased average daily production to 22,469 barrels of oil equivalent per day ("Boepd") in 2012, up from 10,724 Boepd in 2011 for an increase of 110%.
Completed and placed on production 117 gross (93.3 net) operated wells during 2012, including 31 gross (25.4 net) operated wells in the fourth quarter of 2012.
Increased total estimated net proved oil and natural gas reserves at December 31, 2012 to 143.3 million barrels of oil equivalent ("MMBoe"), an 82% increase over year-end 2011 estimated net proved reserves. Approximately 89% of estimated net proved reserves at year-end 2012 consisted of oil and 49% were classified as developed.
WOW! OAS hits a 4-run homer!
Re: WOW! OAS hits a 4-run homer!
This is a good one.
HOUSTON, Jan. 31, 2013 /PRNewswire/ -- Oasis Petroleum Inc. (OAS) ("Oasis" or the "Company") today announced 2012 operational results and estimated net proved reserves, updated its 2012 financial outlook, and provided its 2013 outlook.
Achievements in 2012 include:
•Increased average daily production to 22,469 barrels of oil equivalent per day ("Boepd") in 2012, up from 10,724 Boepd in 2011 for an increase of 110%.
•Completed and placed on production 117 gross (93.3 net) operated wells during 2012, including 31 gross (25.4 net) operated wells in the fourth quarter of 2012.
•Increased total estimated net proved oil and natural gas reserves at December 31, 2012 to 143.3 million barrels of oil equivalent ("MMBoe"), an 82% increase over year-end 2011 estimated net proved reserves. Approximately 89% of estimated net proved reserves at year-end 2012 consisted of oil and 49% were classified as developed.
•Continued to high-grade and grow the Company's leasehold position to 335,383 total net acres in the Williston Basin, primarily targeting the Bakken and Three Forks ("TFS") formations. The Company increased its operated drill blocks by 37 through acreage additions and trades during 2012. In addition, Oasis has 264,595 net acres held-by-production as of December 31, 2012.
•Successfully launched and utilized Oasis Well Services ("OWS"), the Company's internal frac service provider on its operated wells.
•Reduced well costs by 16% from $10.5 million in the first half of 2012 to $8.8 million as of year-end 2012, while maintaining similar estimated ultimate recoveries ("EURs") on wells.
•Ended the year with $239 million of cash, cash equivalents, and short-term investments and had total liquidity of $987 million, including the Company's revolving credit facility ($750 million borrowing base).
"We more than doubled production for the second straight year, growing 2012 production to 22,469 barrels of oil equivalent per day," said Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer. "The team made significant strides during 2012, laying a firm foundation for continued growth into 2013. We were able to attract the human resources, both in upstream and in OWS, who are a key strength that drives the success of Oasis. As we transition into full pad development during 2013, we believe we have the right team in place to plan and execute successfully, especially given the complexities associated with this type of activity."
HOUSTON, Jan. 31, 2013 /PRNewswire/ -- Oasis Petroleum Inc. (OAS) ("Oasis" or the "Company") today announced 2012 operational results and estimated net proved reserves, updated its 2012 financial outlook, and provided its 2013 outlook.
Achievements in 2012 include:
•Increased average daily production to 22,469 barrels of oil equivalent per day ("Boepd") in 2012, up from 10,724 Boepd in 2011 for an increase of 110%.
•Completed and placed on production 117 gross (93.3 net) operated wells during 2012, including 31 gross (25.4 net) operated wells in the fourth quarter of 2012.
•Increased total estimated net proved oil and natural gas reserves at December 31, 2012 to 143.3 million barrels of oil equivalent ("MMBoe"), an 82% increase over year-end 2011 estimated net proved reserves. Approximately 89% of estimated net proved reserves at year-end 2012 consisted of oil and 49% were classified as developed.
•Continued to high-grade and grow the Company's leasehold position to 335,383 total net acres in the Williston Basin, primarily targeting the Bakken and Three Forks ("TFS") formations. The Company increased its operated drill blocks by 37 through acreage additions and trades during 2012. In addition, Oasis has 264,595 net acres held-by-production as of December 31, 2012.
•Successfully launched and utilized Oasis Well Services ("OWS"), the Company's internal frac service provider on its operated wells.
•Reduced well costs by 16% from $10.5 million in the first half of 2012 to $8.8 million as of year-end 2012, while maintaining similar estimated ultimate recoveries ("EURs") on wells.
•Ended the year with $239 million of cash, cash equivalents, and short-term investments and had total liquidity of $987 million, including the Company's revolving credit facility ($750 million borrowing base).
"We more than doubled production for the second straight year, growing 2012 production to 22,469 barrels of oil equivalent per day," said Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer. "The team made significant strides during 2012, laying a firm foundation for continued growth into 2013. We were able to attract the human resources, both in upstream and in OWS, who are a key strength that drives the success of Oasis. As we transition into full pad development during 2013, we believe we have the right team in place to plan and execute successfully, especially given the complexities associated with this type of activity."
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: WOW! OAS hits a 4-run homer!
I am hoping for strong reports from KOG and TPLM, two more pure plays on the Bakken.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group