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Oasis Petroleum Inc. Message Board

  • rlp2451 rlp2451 Feb 27, 2013 8:32 AM Flag

    Big Downgrade from Suntrust

    Oasis Petroleum downgraded to Neutral from Buy at SunTrust
    SunTrust downgraded Oasis to reflect increased inventory concerns. Price target lowered to $35 from $44.

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    • Have any idea what Suntrust means by "increased inventory" concerns?

      Sentiment: Buy

      • 1 Reply to bee4u53
      • From the CC:
        we've got the acreage that is not yet held by production. Quite a bit of that is on the east side of the basin. We've picked up a lot of acreage the last year in the Cottonwood area, new acreage that has expirations on it. In the existing position, it wasn't -- last year, it wasn't -- didn't have as many expiries that we had to get to, so a lot of that was more back-loaded. So you have quite a bit, that's the east side and the North Cottonwood. And then there's a fair amount also over on the west side in the Missouri area, so that's in Montana. And it's further out to the west. So those are 2 of the big hunks. And then there is also some additional acreage that's far south on the west side down in MonDak in the order of 2,000 to 3,000 acres that we may not get to because results aren't quite as good there. And then on the east side in the very north end in St. Croix, we've got around 10,000 acres that ultimately we may not hold.

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