Oasis Petroleum (OAS) (NYSE:OAS) is an independent exploration and production (E&P) company producing oil in North Dakota and Montana. According to a report by the United States Geologic Survey, in April 2008, it classified the formations of Bakken and Three Forks formation as the largest continuous oil accumulation ever assessed by it in the contiguous United States. These formations are the company's main exploitation for significant resources. It continues to acquire and develop oil and natural gas resources. IT currently has 13.3 MMBoe as of 31 December 2009. 42% is developed and 93% is comprised of oil. 
Changes and fluctuations in the price of natural gas and oil affects Oasis Petroleum's potential revenues. For example, if the prices of natural gas are abnormally low, it could materially affect the company's financial position and operations. Thus, the company's quantity of oil and natural gas reserves the company may economically produce may decrease. 
The company's initial public offering of stock filed on the NYSE and went public on 17 June 2010. The company's stock was priced at $14, in the middle of the initial price range of $13-$15. The company raised $588 million by offering 42 million shares. 
For FY2009 with year ended 31 December 2009, the company reported $37.8 million in revenue, up 8.9% from $34.7 million in revenue for FY2008. Furthermore the company reported a net loss of $15.2 million in FY2009, an increase from a net loss of $34.4 million in FY2008.