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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