And Some Say I'm Inappropriate Exuberant About the Bakken -- North Dakota, USA

"We look forward to delivering approximately 160% year over year production growth from 2009 to 2010 and expect to grow production by approximately 130% from 2010 to 2011. We plan on running seven operated rigs in 2011 in the Williston Basin, with six in West Williston and one in East Nesson," said Thomas B. Nusz, Oasis' Chairman and Chief Executive Officer. "We anticipate that we will spud 69 new gross operated projects, actively manage our over 300,000 net acre position, add oil and gas gathering and water disposal infrastructure, and obtain valuable subsurface data in 2011."

Just for perspective, two comments:

1. The "face of the Bakken," CLR, has about 900,000 net acre position in the North Dakota Bakken.
2. It seems Oasis came out of nowhere to amass 300,000 net acres in just the past year or so. 

CAPEX

• 2010 CAPEX: $350 million (increased from beginning of 2010)
• 2011 CAPEX: $490 million

Complete overview and highly bullish comments from "Zman" here.