Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Oasis Petroleum Offers A Familiar Story In The Bakken

With concerns about oil prices, wider differentials, and rising costs pushing down many oil and gas developers in high-growth areas like the Bakken and Niobrara, Oasis Petroleum (NYSE:OAS) isn't exactly a unique situation. Relative to companies like Whiting (NYSE:WLL) or Continental (NYSE:CLR) I suppose you could call Oasis a "fast follower", but whatever you call it, the company has more than half a million acres in the Bakken. Oasis's acreage is company-operated to a very significant degree and a significant amount of that property is in the attractive McKenzie County in North Dakota.

Valuation is always an inexact science, and even moreso in the case of oil and gas companies. If you assume that...

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