Benzinga | Oct 1, 2020 02:48PM EDT

Why Oasis Petroleum's Stock Is Trading Lower Today

Oasis Petroleum (NASDAQ:OAS) shares are trading lower on Thursday after the company on Wednesday filed for Chapter 11 bankruptcy protection.

Oasis Petroleum is an independent oil and gas producer in the United States. The company operates exclusively in the Williston Basin. At the end of 2018, the company reported net proven reserves of 321 million barrels of oil equivalent. Net production averaged 83,000 barrels of oil equivalent per day in 2018, at a ratio of 77% oil and 23% natural gas and NGLs.

Oasis Petroleum shares traded down 21% to 22 cents on Thursday. The stock has a 52-week high of $3.65 and a 52-week low of 19 cents.