You light siezed the motor. Oil has nothing to do with it. Fuel cools and lubes the piston, the oil is for the bearings. Most likely the rings are toast, or the exhaust side of the piston is burned off. Once it cools, the rings will break loose from the Nikasil plating. If your lucky, there was no alum transfer to the cyl. walls, if not, a little muratic acid and a deglaze should clean it up. New pistons, and gaskets and all should be fine.
At 15 below you are about 2 jet sizes leaner than at 20 above. Either re-jet or stay off the throttle when it gets that cold.