OAS Deal Review & Thoughts
Prenutshell: Last week Oasis Petroleum (OAS) announced a set of producing acreage acquisitions, that are largely contiguous blocks of bolt-on acreage to its existing leasehold across the core of the Williston Basin. We like this deal. We've owned Oasis since the time of the IPO because we like how management takes a methodical approach to managing it's assets, how it treats its shares as precious objects, and it's balance sheet with respect. We don't look at the transaction as transformative but rather as just an expansion of their playing field, adding to the opportunity set in more of the same in areas that makes sense to extend both their drilling expertise and...
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