Welcome to our dedicated page for OAS news (Ticker: OAS), a resource for investors and traders seeking the latest updates and insights on OAS stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect OAS's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of OAS's position in the market.
Crestwood Equity Partners LP (NYSE: CEQP) announced changes to its Board of Directors following the acquisition of Oasis Midstream Partners LP (NASDAQ: OMP). Effective February 1, 2022, John Jacobi and John Lancaster, Jr. join the board, bringing extensive experience in the energy sector. Jacobi will be part of the Sustainability Committee, while Lancaster will join the Compensation and Finance Committees. The board will now consist of ten members, with 90% being independent. Alvin Bledsoe has resigned due to a potential audit independence issue, but this was not related to any disagreements.
TortoiseEcofin announced that Oasis Midstream Partners LP (OMP) will be removed from the Tortoise MLP Index, Tortoise North American Pipeline Index, and Tortoise Decarbonization Infrastructure Index due to its merger with Crestwood Equity Partners LP (CEQP). This change will take effect on February 1, 2022, at market open. The removal occurs without a special rebalancing, as CEQP's post-acquisition weight does not exceed the required thresholds for any of the indices. These indices track companies engaged in energy and decarbonization infrastructure.
Oasis Petroleum Inc. (NASDAQ: OAS) announced the immediate appointment of Marguerite Woung-Chapman to its Board of Directors. She will serve on the Compensation and Nominating, Environmental, Social & Governance Committees. With this addition, the Board now comprises eight directors, seven being independent. Board Chair Douglas E. Brooks highlighted Woung-Chapman's extensive experience in the energy sector, anticipating her contribution to Oasis' strategic direction and value delivery for shareholders.
Crestwood Equity Partners LP (NYSE: CEQP) has announced a definitive merger agreement to acquire Oasis Midstream Partners LP (NASDAQ: OMP) for approximately
Oasis Petroleum announced that Oasis Midstream Partners will merge with Crestwood Equity Partners, resulting in Oasis receiving $160MM cash and 21MM common units of Crestwood. The total deal value implies an enterprise value of approximately $6.9B for the combined entities. This merger aims to enhance operational scale, financial performance, and E&P reporting alignment for Oasis. Post-transaction, Oasis is projected to hold 21.7% of Crestwood. The deal is expected to close in Q1 2022, pending regulatory approvals.
Oasis Petroleum completed a strategic acquisition of Williston Basin assets from Diamondback Energy for $511.3 million, net of a previous deposit, with a total transaction value of approximately $745 million. This acquisition enhances Oasis' production capacity by 50% and aligns with its focus on sustainable growth. The company also announced a significant increase in its borrowing base from $400 million to $900 million. Additionally, Oasis is set to increase its fixed dividend by over 33% to $0.50/share starting November 2021, reflecting its commitment to shareholder returns.
Oasis Petroleum (NASDAQ: OAS) has announced an extension to the outside date for its acquisition of QEP Energy's Williston Basin assets to October 27, 2021. This acquisition, valued at $745 million, aims to strengthen Oasis's position in the oil-rich regions. The closing of the transaction is contingent on final government approvals, with the effective date set for April 1, 2021. The final purchase price will be adjusted based on free cash flow generated from the effective date until the close, minus a $75 million deposit already paid.
Oasis Petroleum announced strong second-quarter results for 2021, producing 54.3 MBoepd with net income of $81.3 million. The company declared a $0.375/share dividend, payable on August 27, 2021, and expects to raise it to $0.50/share after the Williston Basin acquisition. Operational CapEx was $52.5 million, reflecting a 36% decrease compared to guidance. The company reduced its full-year CapEx outlook by 7% to $200-$215 million. Notably, a tax strategy could save over $50 million in cash taxes this fiscal year, allowing for enhanced shareholder returns.
Oasis Petroleum Inc. (OAS) is set to announce its Second Quarter 2021 financial results on August 3, 2021, after market close. A live webcast and conference call to discuss these results will occur on August 4, 2021, at 9:00 a.m. Central Time. Investors can access the webcast through Oasis's website. Analysts can dial in to ask questions, with dedicated numbers for both domestic and international participants. Additionally, Oasis will engage in industry conferences, including the Barclays CEO-Energy Power Conference on September 8.
FAQ
What is the market cap of OAS (OAS)?
