August 6, 2014 / 3:20 PM / in 4 years

Oasis Petroleum says can honor North Dakota's new flaring rules

Aug 6 (Reuters) - Oasis Petroleum Inc said it could honor North Dakota’s new restrictions on natural gas flaring and had connected 96 percent of its wells in the state to gathering lines.

“We have worked hard to connect wells, and we’re confident in our ability to meet the state regulations,” Oasis President Taylor Reid said on a Wednesday conference call with investors.

North Dakota announced new restrictions last month on the amount of natural gas producers can burn, saying they must find a way to process it or risk production curtailments.

Oasis posted a lower-than-expected quarterly profit on Tuesday night.

Reporting by Ernest Scheyder; Editing by Lisa Von Ahn

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