Oasis Petroleum Inc. (NYSE:OAS) is a Bakken E&P company with 335,383 net acres in the Bakken/Three Forks trend. Of these approximately 305,000 net acres are core Bakken acres in the heart of the play. Total production was 30,153 boepd in Q1 2013. 91.5% of this was oil. This high percentage of oil is a good thing when the price of oil is up as it has been recently.
Nymex crude traded at $106.10/barrel on July 15, 2013. On top of that the WTI (Nymex Light Crude Oil) price of oil has more nearly approached Brent Crude Oil prices recently. Brent was trading at $109.09/barrel on July 15, 2013. That's only about a $3/barrel difference, and this narrower spread...
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