Oasis: Several News Stories -- North Dakota, USA

Oasis to raise $300 million via senior notes.

Oasis tripled reserves in 2010. Has more than 1,000 gross drilling locations; drilled 26 gross wells in 2010. Lots of work to be done.

This link includes a 4Q10 operations update. Some data points (some figures rounded):

• Proved reserves tripled in 2010 to 40 million, up from 13 million boe
• Completed 26 gross operated wells in the Williston Basin in 2010
• Operated and non-operated basis: 116 gross (29 net) wells
• Average production increased by 155 percent, from 3K boepd to almost 8K boepd
• 303,231 net acres in the Williston  Basin
• Oasis estimates it has 1,303 gross drilling operations
• East Nesson inventory: three wells per spacing unit (excluding previously drilled wells)
• Sanish (more mature): up to 3 Bakken and 2 TF wells per spacing unit (excluding previous wells)
• Assuming 3 TF wells/spacing unit, this would add an additional 1,155 potential gross TF wells
• In all, the company believes it has an aggregate of 2,458 gross potential drilling locations targeting these two formations

Six wells per spacing units!
2,458 potential gross drilling locations -- and in 2010, a very busy year, they only drilled 166 -- yeah, there's a lot of work to be done!