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Oasis Will Scale Back 2014 Capex After Pricey Acquisition

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By Emily Moser, Hart Energy
March 10, 2014

Oasis Petroleum Inc. (NYSE: OAS) struggled to meet analysts’ expectations after a massive $1.6 billion acquisition in the Williston Basin grew its position by nearly 50% in 2013.

After Oasis posted its fourth-quarter 2013 results on Feb. 26, some analysts questioned whether the Houston-based company overextended itself.

In 2013, Oasis spent more than double its capital expenditures compared to 2012. It was hit by an increase in operations and employee expenses as it worked 492,000 net acres in the Williston. If that wasn’t enough, severe winter weather slammed the region ...

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