Oil Prices Impact Bakken Independent Producers

CEO of Oasis Petroleum, Thomas Nusz, addressed investors on the changing strategies for 2015 for the Bakken. As an independent, operating only in the Williston Basin, the falling oil price has caused a change in focus to optimize full field development and perform high intensity well completions. Nusz announced a decrease in capital spending for 2015 from $850 million to $750 million, and plans to lower the rig count from 16 to 10.