Seeking Alpha

Bloomberg: Oasis Petroleum's Bakken expansion may lure buyers

This month's deal by Oasis Petroleum (OAS +0.5%) in adding 161K acres in the Williston Basin gives the E&P company more real estate in the region relative to its $5.2B enterprise value than any similar-sized competitor, and Sterne Agee says it may lure takeover interest.

The Bakken region, part of Williston, appeals to larger energy producers due to its proven resource potential and established infrastructure, Raymond James says: OAS has "a nice footprint of acreage. As you get closer to a top-five position in the Bakken... the international guys may want to come in.”

OAS also offers an attractive valuation, trading at a lower P-E multiple than 71% of U.S. peers, Topeka Capital says.

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