OAS - OAS STOCK NEWS

Oasis Petroleum Inc. announced the offering of 3,623,188 common units by Oasis Midstream Partners LP at $24 each, with proceeds used for redeeming an equal number of units held by Oasis, reducing its ownership from 77.1% to 69.6%. Additionally, a special dividend of $4.00 per share was declared, payable on July 21, 2021, to shareholders of record by July 9, 2021. Oasis expects to raise its fixed dividend by 33% to $2.00 annually following a planned acquisition in late July, reflecting its commitment to returning cash to shareholders.

Oasis Petroleum Inc. (OAS) has announced the pricing of a private placement offering of $400 million in senior unsecured notes due 2026, priced at par. The offering is set to close on June 9, 2021. Proceeds will primarily fund the acquisition of select Williston Basin assets from QEP Energy. If the acquisition is not finalized by September 27, 2021, the notes will be redeemed at face value plus accrued interest. The notes will not be registered under the Securities Act, limiting their offer to qualified buyers.

Oasis Petroleum Inc. (Nasdaq: OAS) announced a planned offering of $400 million in senior unsecured notes due 2026, subject to market conditions. The proceeds will primarily fund the acquisition of select Williston Basin assets from QEP Energy Company and for general corporate purposes. If the acquisition is not finalized by September 27, 2021, the notes will be redeemed at their issue price plus accrued interest. These notes are offered under Rule 144A and Regulation S and have not been registered under the Securities Act.

Oasis Petroleum is selling its entire Permian Basin position for up to $481MM, with $406MM at closing and contingent payments of $25MM annually if WTI averages over $60 per barrel in 2023, 2024, and 2025. The transaction is expected to close by June 30, 2021, and aims to bolster focus on its Williston Basin operations, enhancing cash flow and reducing leverage to about 0.3x. Updated guidance reflects expected FY21 production volumes of 63.5 – 66.5 MBoepd, with CapEx between $205MM – $220MM. Recent hedge modifications were also announced, adjusting swap prices to $50 WTI for future periods.

Oasis Petroleum announced a strategic acquisition of Williston Basin assets from Diamondback Energy for approximately $745MM. The deal, expected to close in July 2021, will be financed via cash on hand and a $500MM bridge loan. This acquisition is projected to increase quarterly dividends by 33% to $0.50 per share post-closing, enhancing cash flow and shareholder returns. Oasis also reported 1Q21 financial results, highlighting a net loss of $35.3MM on revenues of $355.4MM. The transaction is anticipated to bolster financial performance significantly.

Oasis Petroleum Inc. (Nasdaq: OAS) has scheduled its First Quarter 2021 financial results announcement for May 5, 2021, after market close. A live webcast and conference call to discuss these results will take place on May 6, 2021, at 10:30 a.m. Central Time. Participants can access the webcast online and phone-in details are provided for analysts wishing to engage. The company will also attend several upcoming energy conferences in May and June, aiming to strengthen investor relations.

Oasis Petroleum Inc. announced the appointment of Daniel E. Brown as Chief Executive Officer effective April 13, 2021, alongside his role on the Board of Directors. Brown has 23 years of experience in the oil and natural gas sector, notably with Anadarko Petroleum, where he held various executive positions. The Board expressed confidence in his leadership to enhance shareholder value and implement new strategies focused on ESG principles. Brown emphasized his commitment to the company’s future and maximizing stakeholder value.

Oasis Midstream Partners LP (Nasdaq: OMP) announced plans to offer $450 million in senior unsecured notes due 2029, subject to market conditions. The proceeds will primarily be used for a $229 million distribution to its parent, Oasis Petroleum Inc., related to a simplification transaction, and to repay $208 million of outstanding borrowings. These notes will be privately placed to qualified institutional buyers and have not been registered under the Securities Act. The offering is contingent upon market conditions and involves forward-looking statements subject to various risks.

Oasis Petroleum (OAS) announced a major simplification transaction, contributing its remaining interests in Bobcat DevCo and Beartooth DevCo to Oasis Midstream Partners (OMP) for $510 million. This includes $229 million in cash and 14.8 million OMP common units. The deal reduces Oasis' net debt to approximately $16 million. Additionally, a $100 million share-repurchase program was authorized, alongside a dividend of $1.50 per share for 2021. The simplification is expected to enhance cash flows by $81 million in 2021 from OMP, aligning management incentives and strengthening both companies' financial profiles.