Oasis Petroleum -5.2% as big 2014 production goals mean big spending

|About: Oasis Petroleum Inc. (OAS)|By:, SA News Editor

Investors aren't happy with Oasis Petroleum's (OAS -5.2%) plans to increase spending significantly this year to ramp up production.

OAS plans to spend $1.43B in 2014, a 40% Y/Y increase, to achieve its goal of producing 46K-50K boe/day from 33,904 boe/day in 2013.

For the year, OAS expects to complete 205 Bakken wells, up from 136 last year.