Oasis: Finally Out From Brigham’s Shadow

The average Bakken investor is well versed on Brigham (STO).  Brigham Exploration routinely outperformed the competition. It was well positioned in Alger Field, which is possibly the best middle Bakken play in the Williston Basin. When Brigham announced it was being purchased by Statoil, Bakken investors flocked to Kodiak Oil and Gas (KOG: N/A +0%) as it purchased a very large number of acres in southeast Williams and northeast McKenzie counties. These two companies gained attention through very good initial production rates. Brigham’s best were in Alger Field, while Kodiak produced very good wells in the middle Bakken and upper Three Forks.
These two companies have gotten most of the attention as pure Bakken plays.  Oasis (OAS) has been in the shadow of Brigham and Kodiak, but this could change very soon.  Oasis has over 303000 net acres in the Williston Basin.  This breaks into three areas:
1.    West Williston: 191716 net acres in southwest Williams, northwest McKenzie, and eastern Richland and Roosevelt counties.
2.    East Nesson: 102786 net acres in western Mountrail and west Burke counties
3.    Sanish: 8729 net acres in the Sanish field area
Oasis has 9 rigs running with 7 in West Williston and 2 in East Nesson.  It has quietly increased production significantly since the second quarter of this year, when it produced 7893 Boe/d.  Oasis estimates it will produce between 11000 and 12500 Boe/d on average for the full year of 2011.

Oasis’ Sanish acreage is probably its best outside of its Indian Hills acreage.  The Sanish is non-operated, and currently can support four middle Bakken and three upper Three Forks locations per 1280 acre spacing.  Oasis’ Cottonwood play is northwest of its Sanish play.  It consists of Mountrail County and into southern Burke County.  The Cottonwood play has much better production at its most southern acreage.  As the play heads north and into Burke, the wells are less expensive.  Its most northern acreage in Burke County is Oasis’ St. Croix.  Oasis has one result (Rebne 11-7H)here, which had and IP rate of 175 Bo/d.  For comparison sake, its Berry 11-6H is west of the Sanish and had an IP rate of 2023 Bo/d.

Its West Williston leasehold is broken down into four parts:
1.    Indian Hills- Northwest of Kodiak’s Koala prospect
2.    Red Bank-Northwest of Brigham’s Roughrider
3.    Mondak
4.    Hebron

Indian Hills is has great potential.  The acreage is probably not as promising as Koala, but has significant upside.  The southeast point of Red Bank is also quite good.   That said, Oasis has an abundance of good acreage that will allow them to execute their operational strategy.  Overall, the acreage Oasis currently owns is not as good as Brigham’s but should only sell at a minor discount to it’s Bakken competitor.

Oasis’ management has done a great job ramping up production, especially when we take into consideration the Bakken winter which slowed oil and gas production to a stand still.  The flooding made things worse as trucks could not get in and out of the well sites.  Oasis has met earnings estimates for three straight quarters after a bad miss in December of 2010.  This company has stated rising costs of oil service has placed a strain on its business.  Because of this, Oasis has started up its own well service business, which helps to take the fear of fracking costs continuing to rise.

In summary, Oasis has a very good acreage in the Williston Basin.  It has kept costs in check, and has seen its initial production rates increase significantly in a short period of time.  It has expanded it infrastructure and is better prepared for winters going forward.  Keep an eye on this company, as it is no longer in Brigham’s shadow.

This article was written by new BakkenStocks contributor, Michael Filloon.   Michael is well versed on companies operating in the Bakken region and we look forward to more articles from Michael in the coming year.

 

Active Drilling Rigs: December 2011

For the first time,  the number of Active Drilling Rigs topped 200 earlier this month up 3% from our last report in October.   The drilling activity in the region has not subsided and the mild early winter weather has allowed drilling to continue at full bore for the last 2 months.  The leaders look similar to previous months with Continental Resources leading the way with 21 Rigs.   Whiting Oil & Gas has also stepped up activity and now is 2nd among all players with 19 Drilling Rigs.   Brigham/Statoil also increased to 13 rigs overall and it will be interesting to see if they accelerate their plans under Statoil management.  Look for our upcoming article tomorrow diving into Oasis (OAS: 7.34 -2.26%) acreage in the region.

 

Rig Operator Well Name and Number
PRECISION 607 BAYTEX ENERGY USA LTD THOMPSON 35-26-162-99H 1XB
ENSIGN 67 BAYTEX ENERGY USA LTD REDFIELD 24-13-157-99H 1NC
NABORS 460 BRIGHAM OIL & GAS LP LYLE 21-16 #1-H
NABORS 49 BRIGHAM OIL & GAS LP PATENT GATE 7-6 #1H
PRECISION 645 BRIGHAM OIL & GAS LP STALLION 33-28 1H
NABORS 44 BRIGHAM OIL & GAS LP DALE 20-17 #1-H
NABORS 266 BRIGHAM OIL & GAS LP FOREST 26-35 #1H
NOMAC 316 BRIGHAM OIL & GAS LP SAX 25-36 #1H
NABORS 254 BRIGHAM OIL & GAS LP STROBECK 27-34 #6H
NABORS 52 BRIGHAM OIL & GAS LP CLIFFORD BAKKE 26-35 #4H
NABORS 182 BRIGHAM OIL & GAS LP MARTIN 32-31 1-H
NABORS 350 BRIGHAM OIL & GAS LP SAM 30-31 #1-H
CRAIG 4 BRIGHAM OIL & GAS LP ZACREP 2-11 #1H
NABORS 558 BRIGHAM OIL & GAS LP BORSHEIM TRUST 33-28 #3H
UNIT 106 BRIGHAM OIL & GAS LP RICH 30-31 #1H
KEY NRG 885 BRIGHAM OIL & GAS LP BLANCHE 27-22 #1H
MAJOR 41 BRIGHAM OIL & GAS LP EVERETT 5-8 #1H
PATTERSON 136 BTA OIL PRODUCERS LLC SHARON #1
NABORS 92 BURLINGTON RES O&G CO GOLDPOINT 41-25TFH
PRECISION 825 BURLINGTON RES O&G CO CECILIA STROH 34-7MBH
H & P 446 BURLINGTON RES O&G CO BRAZOS 24-34H
NABORS 59 BURLINGTON RES O&G CO NEIL 24-19MBH
NABORS 687 BURLINGTON RES O&G CO UBERWACHEN 22-34
NOMAC 359 CHESAPEAKE OPERATING INC DECKER 26-138-97 A 1H
NOMAC 312 CHESAPEAKE OPERATING INC KOSTENKO 30-138-97 A 1H
PRECISION 831 CONTINENTAL RESOURCES BURIAN 1-27H
PATTERSON 490 CONTINENTAL RESOURCES OVERLAND 1-8H
TRINIDAD 36 CONTINENTAL RESOURCES HAMPTON 1-2H
PATTERSON 183 CONTINENTAL RESOURCES INGEBRET 1-8H
PATTERSON 338 CONTINENTAL RESOURCES EDWARD 1-23H
CYCLONE 28 CONTINENTAL RESOURCES KUKLA 3-16H
PATTERSON 455 CONTINENTAL RESOURCES JACK 2-9H
PATTERSON 180 CONTINENTAL RESOURCES QUALE 1-1H
CYCLONE 22 CONTINENTAL RESOURCES LAZORENKO 1-2H
CYCLONE 4 CONTINENTAL RESOURCES JAMESTOWN 1-17H
CYCLONE 14 CONTINENTAL RESOURCES BOHMBACH 3-35H
CYCLONE 20 CONTINENTAL RESOURCES TODD 1-6H
CYCLONE 21 CONTINENTAL RESOURCES VADER 1-7H
CYCLONE 2 CONTINENTAL RESOURCES CINCINNATI 1-30H
CYCLONE 25 CONTINENTAL RESOURCES CHARLESTON 1-22H
CYCLONE 10 CONTINENTAL RESOURCES KING 1-5H
CYCLONE 31 CONTINENTAL RESOURCES LOKKEN 3-2H
PRECISION 832 CONTINENTAL RESOURCES SEVRE 1-22H
CYCLONE 19 CONTINENTAL RESOURCES SUTTON 1-3H
CYCLONE 5 CONTINENTAL RESOURCES RIXEY 1-28H
PATTERSON 515 CONTINENTAL RESOURCES GARNER 1-32H
ENSIGN 118 CORNERSTONE NAT RES LLC CUPLIN 6-3-10H
STONEHAM 17 CRESCENT PT ENERGY US CPEUSC AMELIA GRACE 7-6-158N-99W
PRECISION 630 CRESCENT PT ENERGY US CPEUSC AUSTIN 17-20-158N-99W
PRECISION 96 DAKOTA-3 E&P CO BUFFALO 1-36HC
NABORS 486 DAKOTA-3 E&P CO FOX 14-8H
PRECISION 517 DAKOTA-3 E&P CO SKUNK CREEK 23-14 HC
PATTERSON 336 DAKOTA-3 E&P CO PLENTY SWEET GRASS 18-19HC
SST 68 DAKOTA-3 E&P CO BENSON 16-3H
H & P 448 DENBURY ONSHORE TRMU 24X-12H
PATTERSON 301 DENBURY ONSHORE SATTER 24-35SEH
PATTERSON 305 DENBURY ONSHORE ERICKSON 41-25SWH
PRECISION 511 DENBURY ONSHORE OLSON 34-19SWH
PRECISION 289 DENBURY ONSHORE NELSON 24-11NEH
H & P 454 DENBURY ONSHORE ROEN 24-23NH
H & P 456 DENBURY ONSHORE JOHNSON 24-31NEH
ENSIGN 152 ENERPLUS RES USA CORP SITKA 149-93 06A-3H TF
PRECISION 631 ENERPLUS RES USA CORP CEDAR 148-94 12D-01-4H TF
ENSIGN 88 ENERPLUS RES USA CORP SPRUCE 148-94 12C-01-2H TF
PRECISION 560 ENERPLUS RES USA CORP GRAY WOLF 148-94-05CH TF
TRUE 32 EOG RESOURCES INC VANVILLE 15-1102H
MAJOR 45 EOG RESOURCES INC VANVILLE 17-1213H
TRUE 33 EOG RESOURCES INC WEST CLARK 3-2413H
SST 58 EOG RESOURCES INC WEST CLARK 1-2413H
DHS 12 EOG RESOURCES INC LOSTWOOD 10-2227H
NOMAC 328 EOG RESOURCES INC LIBERTY LR 15-26H
NABORS 527 EOG RESOURCES INC WAYZETTA 124-3334H
DHS 4 EOG RESOURCES INC CLEARWATER 200-06 SWD
DHS 9 EOG RESOURCES INC HARDSCRABBLE 8-0409H
NABORS 108 FIDELITY EXPL & PROD CO LACI 21-28-27H
NABORS 280 FIDELITY EXPL & PROD CO PARKER 29-32H
CANELSON 43 FLATIRONS RESOURCES LLC LUNDE 32-33
ENSIGN 71 G3 OPERATING LLC ARNSON 1-5-8H
STONEHAM 16 G3 OPERATING LLC HOUGHT 1-1-12H
UNIV DRLG 1 GADECO, LLC GOLDEN 25-13H
PARAMOUNT 1E GMX RESOURCES EVONIUK 21-2-1H
PRECISION 18 HELIS OIL & GAS CO. LLC VEEDER 1-27/34H
PRECISION 604 HELIS OIL & GAS CO. LLC FOREMAN 5-2/1H
H & P 241 HESS CORPORATION SMUGALA 27-1H
H & P 295 HESS CORPORATION LK-POHRIBNAK 147-96-16H-3
PRECISION 618 HESS CORPORATION HA-DAHL-152-95- 0706H-2
NABORS B06 HESS CORPORATION BW-R PETERSON 149-99-1102H-1
NABORS 2 HESS CORPORATION EN-SORENSON B-155-94- 3526H-1
NABORS B-04 HESS CORPORATION EN-MEIERS B-156-93- 1003H-1
NABORS B-03 HESS CORPORATION EN-RIERSGARD-156-93- 1718H-2
NABORS B5 HESS CORPORATION EN-THRONSON- 154-94-2029H-1
NABORS 1 HESS CORPORATION EN-POSTOVIT 157-93-0706H-1
NABORS B1 HESS CORPORATION EN-BINGER 157-94-1201H-1
H & P 293 HESS CORPORATION GO-QUALLEY-157-97- 1102H-1
MAJOR 27 HESS CORPORATION SC-FOSTER 153-99-2932H-1
PRECISION 620 HESS CORPORATION SC-JEAN 157-99-0904H-1
H & P 179 HESS CORPORATION GO-JARLAND-156-98- 1102H-1
H & P 294 HESS CORPORATION CA-HALVERSON-154-95- 0409H-2
H & P 317 HUNT OIL COMPANY HALLIDAY 2-12-1H 1
FRONTIER 19 HUNT OIL COMPANY CLEARWATER 1-26-23H 1
UNIT 109 KODIAK OIL & GAS (USA) INC CHARGING EAGLE 15-14-11-4H
UNIT 117 KODIAK OIL & GAS (USA) INC SKUNK CREEK 9-2-3-5H
UNIT 328 KODIAK OIL & GAS (USA) INC EAST GRIZZLY FEDERAL 3-25-36-15H
UNIT 123 KODIAK OIL & GAS (USA) INC SMOKEY KAREN 16-20-17-2H
UNIT 118 KODIAK OIL & GAS (USA) INC KOALA 15-31-30-3H3
CANELSON 42 LEGACY OIL & GAS ND LEGACY ET AL BERGE 1-1H
ENSIGN 86 LIBERTY RESOURCES FRITZ 150-101-32-29-1H
H & P 309 LIBERTY RESOURCES BERGER 156-100-7-6-1H
H & P 259 MARATHON OIL CO ECKELBERG 14-23H
H & P 386 MARATHON OIL CO BEN RECKARD 44-22H
H & P 392 MARATHON OIL CO BLACK HAWK USA 31-16H
H & P 258 MARATHON OIL CO WAKELUM 41-3H
H & P 256 MARATHON OIL CO JESSICA USA 21-6TFH
PRECISION 602 MUREX PETROLEUM CORP ETHAN ROBERT 5-32H
PATTERSON 335 NEWFIELD PROD CO CHARLOTTE 150-98-17-20-2H
NABORS 272 NEWFIELD PROD CO BRATLIEN 154-100-33-28-1H
ENSIGN 89 NORTH PLAINS ENERGY LLC KING 3-8H
H & P 457 OASIS PETRO NO AMER SHAW 6092 24-22H
NABORS 110 OASIS PETRO NO AMER CHICKEN CREEK FEDERAL 44-35H
EXTREME 17 OASIS PETRO NO AMER BRAY 5301 43-12H
NABORS 149 OASIS PETRO NO AMER CATCH FEDERAL 5201 11-12H
NABORS 165 OASIS PETRO NO AMER DUNLIN 5892 34-32H
NABORS 177 OASIS PETRO NO AMER FLINDERS FEDERAL 5602 13-18H
CRAIG 5 OASIS PETRO NO AMER CORNELL 5501 13-1H
STONEHAM 18 OASIS PETRO NO AMER MCCAULEY 5501 14-3H
ENSIGN 153 OXY USA INC STATE TITOS 1-3-10H-142-98
NABORS B9 OXY USA INC STATE JOE LOH 1-20-17H-143-98
TRINIDAD 118 OXY USA INC SORLIE 160-90-7-P16-1H
UNIT 121 OXY USA INC JOE V SEMERAD 1-12-1H-142-97
UNIT 120 OXY USA INC ROBERT SADOWSKY 1-2-35H-143-96
TRINIDAD 221 OXY USA INC ELSIE DVORAK 1-8-17H-141-96
UNIT 122 OXY USA INC STATE BRIAN SADOWSKY 1-10-3H-142-97
H & P 325 OXY USA INC WITTINGER 2-17-5H-143-95
H & P 329 OXY USA INC RAPHAEL STROH 2-13-24H-143-97
NABORS 413 OXY USA INC PRIVRATSKY 1-28-33H-141-95
PRECISION 426 OXY USA INC STATE JABLONSKY 1-1-12H-141-95
MAJOR 26 OXY USA INC BEATRICE KUBISCHTA 3-15-22H-143-96
H & P 255 OXY USA INC SPRING CREEK 1-20-141-93
KEY NRG 370 PETRO HARVESTER OPERATING OPSETH 29-7
UNIT 329 PETRO HUNT LLC SETTERLUND 159-94-28B-33-1H
H & P 180 PETRO HUNT LLC FORT BERTHOLD 148-94-30A-31-2H
ENSIGN 77 PETRO HUNT LLC FORT BERTHOLD 151-94-34C-27-1H
UNIT 108 PETRO HUNT LLC KLOSE 151-103-26B-35-1H
NOMAC 323 PETRO HUNT LLC OAKLAND 151-103-29B-32-1H
NOMAC 322 PETRO HUNT LLC FORT BERTHOLD 151-94-26B-35-1H
PATTERSON 491 PETRO HUNT LLC BRENNA 152-96-23C-14-4H
NOMAC 308 PETRO HUNT LLC SORENSON 152-96-24C-13-4H
ENSIGN 46 PETRO HUNT LLC JORGENSON 158-94-12C-1-1H
UNIT 234 PETRO HUNT LLC ROSSLAND 157-101-14B-23-1H
UNIT 233 PETRO HUNT LLC STATE OF NORTH DAKOTA 154-99-16A-1H
ENSIGN 24 PETRO HUNT LLC PASTERNAK TRUST 157-100-18A-19-1H
ENSIGN 93 PETRO HUNT LLC MILLER 157-101-12C-1-1H
SST 66 QEP ENERGY CO MHA 4-06-01H-149-92
MAJOR 24 QEP ENERGY CO MHA 4-06-07H-147-92
H & P 324 SAMSON RESOURCES CO DORADO 14-23-162-98H
H & P 277 SAMSON RESOURCES CO COUGAR 26-35-163-97H
PIONEER 42 SAMSON RESOURCES CO PIGEON 30-31-162-96H
NABORS 455 SAMSON RESOURCES CO STANLEY 28-21-156-91H
PATTERSON 167 SLAWSON EXPLORATION TURBO #2-21-16H
NABORS 419 SLAWSON EXPLORATION BARNSTORMER FEDERAL #1-3-10H
FRONTIER 16 SLAWSON EXPLORATION WOLVERINE FEDERAL #1-31-30H
CYCLONE 27 SLAWSON EXPLORATION MENACE 1-17-20H
CANELSON 41 SLAWSON EXPLORATION SORCERER 1-14-15H
NABORS 152 SM ENERGY CO WOLTER 15-8H
NABORS 476 SM ENERGY CO SYVERSON 16-34H
EXTREME 18 SM ENERGY CO BOGNER 13-20H
EXTREME 7 TRIANGLE USA PETROLEUM DWYER 150-101-21-16-1H
NEW ENERGY 1 TRIANGLE USA PETROLEUM LARSON 149-100-9-4-1H
TRUE 36 TRUE OIL LLC ANDERSON 12-18H
H & P 276 WHITING OIL AND GAS CORP ROXANE 21-16H
NABORS 267 WHITING OIL AND GAS CORP BSMU 2905
NABORS 686 WHITING OIL AND GAS CORP FRANKS CREEK STATE 21-16TFH
NABORS 112 WHITING OIL AND GAS CORP DULETSKI 21-13TFH
PIONEER 44 WHITING OIL AND GAS CORP KJELSTRUP 44-24TFH
NABORS 587 WHITING OIL AND GAS CORP TIFFT 21-18H
NABORS B07 WHITING OIL AND GAS CORP CHITWOOD 34-36H
PRECISION 520 WHITING OIL AND GAS CORP BROWN 41-28XH
PIONEER 57 WHITING OIL AND GAS CORP LINDSETH 12-12TFH
NABORS 99 WHITING OIL AND GAS CORP MAKI 41-33XH
PRECISION 51 WHITING OIL AND GAS CORP JONES 34-4H
PRECISION 106 WHITING OIL AND GAS CORP S-BAR 11-7TFH
PIONEER 66 WHITING OIL AND GAS CORP KLEFSTAD 24-25H
PIONEER 67 WHITING OIL AND GAS CORP DARYL LOCKEN 21-22H
PIONEER 3 WHITING OIL AND GAS CORP OBRIGEWITCH 21-16TFH
NABORS B-08 WHITING OIL AND GAS CORP BURESH 34-10TFH
PATTERSON 488 WHITING OIL AND GAS CORP KUBAS 34-12PH
H & P 316 WHITING OIL AND GAS CORP IVER & MINNIE 21-14PH
PIONEER 56 WHITING OIL AND GAS CORP BERGSTROM 44-10H
NABORS 109 XTO ENERGY INC FBIR BEAKS 24X-8
NABORS 681 XTO ENERGY INC FBIR GUYBLACKHAWK 24X-27
H & P 239 XTO ENERGY INC CHRISTIANA 21X-6
NABORS 265 XTO ENERGY INC TRUAX STATE 11X-16
PATTERSON 191 XTO ENERGY INC WILLEY 31X-3
NABORS 742 XTO ENERGY INC COLETTE 21X-18
PRECISION 512 ZAVANNA LLC LARSEN 32-29 1H
NABORS 688 ZAVANNA LLC LION 1-14H
NABORS 148 ZAVANNA LLC THELMA 1-21H
ENSIGN 76 ZENERGY INC ROLFSRUD 18-19H
NOMAC 327 ZENERGY INC KNELS 20-29H
NOMAC 315 ZENERGY INC MARY 3-10H

Bracing for the Bakken Backlash

About a year ago I warned that O&G companies should start preparing for backlash against hydraulic fracking and the potential for public perception that it is directly correlated to groundwater contamination.     In recent weeks,  the EPA issued a report that supposedly found a possible link between groundwater pollution and hydraulic fracturing beneath Pavillion, Wyo. The EPA found chemical compounds likely associated with fracking in the groundwater beneath the small community where residents complain their well water reeks of chemicals. Health officials last year advised residents not to drink their well water after the EPA found low levels of hydrocarbons.   The impact could be quite severe if there is suspected contamination in the North Dakota Bakken region.

Lynn Helms,  Director of the North Dakota Department of Mineral Resources has said he believes there will be a moratorium on fracking because of the history of many-months moratoriums in Alabama, when the EPA, because of an environmental lawsuit, revoked Alabama’s underground injection program until the state wrote new rules specific to fracking under Class II well standards.   Helms recently stated:

“I believe it will be stopped cold for 12 to 24 months. The best case is 15 months and that’s only if we red-lighted everything else and got nothing else done,”

The EPA has since denied a moratorium is imminent, but there is a push underway for drillers to disclose exactly which chemicals they use in fracking.   If that comes to fruition,  and news of chemicals that are harmful to humans reaches local mainstream media in the regions,  the backlash and pressure put on the EPA could be severe.   In a worst case scenario,  if drilling is stopped for even 6-12 months,  “Pure Play” O&G companies in the region could see significant pressure on their stock prices with 50% drops not out of the question.     For investors looking to hedge their risk,  buying protective puts against stock positions may provide defense against a “doomsday” scenario in the region.

We will continue to keep our eyes out for this as news develops…..Stay tuned.

Weekly Roundup- Markets find direction

We have been lamenting over the last few weeks that the market was having a hard time finding it’s footing and that changed these past 2 weeks with the Dow up about 7% after central banks took steps to free up capital in debt-laden EU countries.   In addition,  Seventeen nations in the euro zone agreed to sign a treaty that allows a central European authority closer oversight of their budgets.   Oil benefited and continues to stabilize near the $100 a barrel mark. The latest Bakken news is below!

  • Big Sky Petroleum Corporation and its two partners, FX Energy (FXEN) and American Eagle Energy (AMZG), have completed drilling and casing a horizontal sidetrack of well 14-29, in Toole County, Montana. Good oil and gas shows were noted throughout the drilling of the horizontal section. To date, Big Sky owns a 33.333% working interest in approximately 100,000 net acres in Toole and Glacier counties, Montana.
  • US junior American Eagle Energy and its pending merger partner Eternal Energy agreed to sell 75% of their interests in Bakken-Three Forks to a third party for just shy of $14 million. The buyer of the West Spyglass prospect in was listed as “a wholly-owned subsidiary of a publicly traded company with a market cap in excess of $10 billion”
  • Dakota Oil Processing,  a development company plans to build a $200 milion dollar refinery in the Bakken region. The 20,000 barrel-per-day plant  received county zoning approval two weeks ago and  now awaits a final state air permit .   Once complete, the refinery will lower overhead costs for producers in the region as the oil would not have to be shipped to Texas to be refined.
  • The Fracking debate continued to heat up in recent weeks.    Environmentalists and others increasingly have raised concerns about the potential impact of “fracking” on water and other resources. The EPA on Thursday announced for the first time that the process may have caused groundwater pollution in a Wyoming community.   Ron Ness, president of the North Dakota Petroleum Council, said Friday in Grand Forks that “there has got to be an educational process” to reassure the public about the health and environmental safety of hydraulic fracturing as the process is employed here.
  • Oasis Petroleum (OAS: 7.34 -2.26%)  was upgraded by equities research analysts at Caris & Co. to an “above average” rating in a research note issued on Friday.  In addition, analysts at Morgan Keegan reiterated an “outperform” rating and a $34 price target on shares of Oasis Petroleum in a research note to investors.    Oasis Petroleum could be a big winner and a potential acquisition target with a portfolio of high quality acreage in the region.

Until next time,  Keep Drillin’