Oasis Plans $350M IPO For Williston Basin Play

Law360, New York (March 5, 2010, 5:34 PM EST) -- Houston-based oil and natural gas developer Oasis Petroleum Inc. has filed for an initial public offering worth up to $350 million and plans to use proceeds from the stock sale to fund an expansion of drilling on its properties in the Western U.S.

According to papers filed Thursday with the U.S. Securities and Exchange Commission, the company has accumulated a portfolio of undeveloped leases in the Williston Basin — a 457-mile-wide formation stretching from eastern Montana north into Saskatchewan and east into the Dakotas and Manitoba....
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