HOUSTON, Oct. 18, 2016
/PRNewswire/ -- Oasis Petroleum Inc. (NYSE: OAS)
("Oasis" or the "Company") announced today that it
has commenced an underwritten public offering of 40,000,000 shares
of common stock. Oasis expects to grant the underwriters a 30-day
option to purchase up to 6,000,000 additional shares of common
stock. The Company intends to use the net proceeds from this
offering to fund a portion of the previously announced acquisition
of SM Energy Company's Bakken assets (the
"Acquisition"). The offering is not conditioned on the
consummation of the Acquisition, and if the Acquisition does not
occur, the net proceeds will be used for general corporate
purposes, which may include funding a portion of the Company's 2017
capital budget.
J.P. Morgan Securities LLC and Goldman, Sachs & Co. are
acting as joint book-running managers for the offering.
The offering is being made pursuant to an effective shelf
registration statement, which has been filed and became effective
July 15, 2014. The offering will be
made only by means of a preliminary prospectus supplement and the
accompanying base prospectus, copies of which may be obtained on
the Securities and Exchange Commission's website at www.sec.gov.
Alternatively, the underwriters will arrange to send you the
preliminary prospectus supplement and related base prospectus if
you request them by contacting J.P. Morgan via Broadridge Financial
Solutions (866-803-9204), 1155 Long Island Avenue, Edgewood,
New York 11717, email: prospectus-eq_fi@jpmchase.com; or
Goldman, Sachs & Co., attention: Prospectus Department
(866-471-2526), 200 West Street, New York, New
York 10282, email: prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All
statements, other than statements of historical facts, included in
this press release that address activities, events or developments
that the Company expects, believes or anticipates will or may occur
in the future are forward-looking statements. Without limiting the
generality of the foregoing, forward-looking statements contained
in this press release specifically include statements regarding the
intended use of offering proceeds and other aspects of the common
stock offering. These statements are based on certain
assumptions made by the Company based on management's experience
and perception of historical trends, current conditions,
anticipated future developments and other factors believed to be
appropriate. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company, which may cause actual results to differ
materially from those implied or expressed by the forward-looking
statements. These include changes in oil and natural gas prices,
the timing of planned capital expenditures, availability of
acquisitions, uncertainties in estimating proved reserves and
forecasting production results, operational factors affecting the
commencement or maintenance of producing wells, the condition of
the capital markets generally, as well as the Company's ability to
access them, the proximity to and capacity of transportation
facilities, and uncertainties regarding environmental regulations
or litigation and other legal or regulatory developments affecting
the Company's business and other important factors that could cause
actual results to differ materially from those projected as
described in the Company's reports filed with the SEC.
Any forward-looking statement speaks only as of the date on
which such statement is made and the Company undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
About Oasis Petroleum Inc.
Oasis is an independent exploration and production company
focused on the acquisition and development of unconventional oil
and natural gas resources, primarily operating in the Williston
Basin.
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SOURCE Oasis Petroleum Inc.