It was only the fourth double-eagle in the 76-year history of the tournament.
Oosthuizen came up short in the playoff, but had an unforgettable moment that was replayed over and over with his double-eagle on the second hole on Sunday.
The Scot had an eagle at the 2nd - where he had had a double-bogey the previous day - but immediately dropped a shot at the 3rd.
In 1978, three American balloonists, Ben Abruzzo, Maxie Anderson and Larry Newman, completed the first crossing of the North Atlantic in their balloon, Double Eagle II.
He dropped a shot at the opening hole and then double-bogeyed the third, before a birdie at the seventh and an eagle three at the ninth got him back into contention.
Paul McGinley also made six birdies and an eagle but double-bogeyed the fifth.
Hunter Mahan's tee shot on the 15th hole got stuck high up in a tree, leading to double bogey, but then he rolled in an eagle putt from off the 16th green.
Woods took double bogey, and only an eagle on the final hole kept the damage to a minimum.
The first came on the par-five second hole Sunday, when Oosthuizen scored a rare double-eagle.
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After overcoming a bad start, five over after 10 holes, he settled down and posted seven birdies and an eagle, against only one bogey and one double-bogey, in the remaining 26 holes.
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Double Eagle Petroleum Co. shares are currently trading up about 8.1% on the day.
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