Despite cutting its capital expenses by about 40%, Oasis Petroleum is expecting to see continued production increases from its Williston and Delaware basin operations. Speaking at Hart Energy’s recently held DUG Rockies conference and exhibition, Jason Swaren, vice president of operations, said Oasis is planning to spend $550 million this year, about $412 million of which will be allocated to its Williston operations. The rest will be spent in the Delaware Basin. The result will be about $200 million in positive cash flow, he said.
Swaren said the reduction in capex is being reflected in a drawdown in Oasis’ drilling operations.