Oasis Petroleum (NYSE: OAS) is a Houston-based independent oil and gas company focused on the acquisition and development of unconventional oil and natural gas resources. Oasis was formed by former senior management members at Burlington Resources, which was acquired by ConocoPhillips (NYSE: COP) in March 2006.
Since its formation in March 2007 through June 2010, Oasis aggregated more than 292,000 net acres in the Williston Basin through a series of acquisition and farm-in transactions. By pursuing an aggressive horizontal development program in the Bakken and Three Forks formations, the company was able to successfully grow production and reserves while demonstrating the resource potential of its acreage. In June 2010, Oasis successfully priced its IPO at $14 per share and is now listed on the NYSE under the symbol OAS.