Oasis Petroleum will likely see additional consolidation in Bakken oilfield

The Bakken oilfield will likely see additional consolidation as it develops, Oasis Petroleum CEO Daniel Brown said to investors on Tuesday, a day after his company declared its own acquisition of rival Diamondback Energy’s Williston basin assets.

An executive said during a quarterly earnings call: “Oasis has decreased its well costs by 20%, aided by pricing concessions from oilfield service providers.”

Source: Reuters