HOUSTON, Oct. 18, 2016
/PRNewswire/ -- Oasis Petroleum Inc. (NYSE: OAS) ("Oasis" or
the "Company") announced today that it has priced
an upsized underwritten public offering of 48,000,000
shares of common stock for total gross proceeds (before the
underwriters' discounts and commissions and estimated offering
expenses) of approximately $518.4 million. 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. Oasis granted the
underwriters a 30-day option to purchase up to 7,200,000
additional shares of common stock. The offering is expected to
close on October 21, 2016.
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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/oasis-petroleum-inc-announces-pricing-of-upsized-public-offering-of-common-stock-300346645.html
SOURCE Oasis Petroleum Inc.