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Oasis Petroleum (OAS) and Whiting Petroleum (WLL) announced a "merger of equals".
"Equals" is quite accurate given the size, value, focus, and history of the companies, as well as their operating styles.
While there are some synergies to be had from the move, value adds from the merger are likely to turn out to be more of a mirage than an oasis.
Absent adoption by the company of best practices in the Bakken, the company will struggle to improve upon past performance, putting a ceiling on value.