HOUSTON, Sept. 11, 2017 /PRNewswire/ -- Oasis
Petroleum Inc. (NYSE: OAS) ("Oasis Petroleum") today announced the
commencement of the Oasis Midstream Partners LP ("Oasis Midstream")
initial public offering of 7,500,000 common units representing
limited partner interests, at an anticipated initial public
offering price between $19.00 and
$21.00 per common unit, pursuant to a registration statement
on Form S-1 previously filed with the U.S. Securities and Exchange
Commission ("SEC"). Oasis Midstream also expects to grant the
underwriters a 30-day option to purchase up to an additional
1,125,000 common units. Oasis Midstream has been authorized to
list its common units on the New York Stock Exchange under the
symbol "OMP," subject to official notice of issuance.
The common units being offered represent an approximate 27.3%
limited partner interest in Oasis Midstream (or approximately 31.4%
if the underwriters exercise in full their option to purchase
additional common units). Oasis Petroleum and its affiliates will
own the remaining approximately 72.7% limited partner interest in
Oasis Midstream (or approximately 68.6% if the underwriters
exercise in full their option to purchase additional common units).
Oasis Petroleum will indirectly own the general partner of Oasis
Midstream and the incentive distribution rights.
Morgan Stanley, Citigroup and Wells Fargo Securities are acting
as joint book-running managers for the offering.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time that the registration statement becomes effective.
This offering will be made only by means of a written
prospectus. A copy of the preliminary prospectus for the offering
may be obtained, when available, from:
Morgan Stanley &
Co. LLC
|
Citigroup Global
Markets Inc.
|
Wells Fargo
Securities, LLC
|
Attn: Prospectus
Department
|
c/o Broadridge
Financial Solutions
|
c/o Equity Syndicate
Department
|
180 Varick Street,
2nd Floor
|
1155 Long Island
Avenue
|
375 Park
Avenue
|
New York, New York
10014
|
Edgewood, New York
11717
|
New York, New York
10152
|
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.
About Oasis Midstream
Oasis Midstream is a growth-oriented, fee-based master limited
partnership initially formed by Oasis Petroleum to own, develop,
operate and acquire a diversified portfolio of midstream assets in
North America that are integral to
the oil and natural gas operations of Oasis Petroleum and are strategically positioned to capture
volumes from other producers. Oasis Midstream's initial assets are
located in the Williston Basin
area of North Dakota and
Montana.
Forward-Looking Statements
This release includes "forward-looking statements" within the
meaning of federal securities laws. Such forward-looking statements
are subject to a number of risks and uncertainties, many of which
are beyond Oasis Midstream's control. All statements, other than
historical facts included in this release, are forward-looking
statements. All forward-looking statements speak only as of the
date of this release. Although Oasis Midstream believes that the
plans, intentions and expectations reflected in or suggested by the
forward-looking statements are reasonable, there is no assurance
that these plans, intentions or expectations will be achieved.
Therefore, actual outcomes and results could materially differ from
what is expressed, implied or forecast in such statements.
This release contains certain forward-looking statements that
are based on current plans and expectations and are subject to
various risks and uncertainties. Oasis Midstream's business and any
offering may be influenced by many factors that are difficult to
predict, involve uncertainties that may materially affect actual
results and are often beyond Oasis Midstream's control. These
factors include, but are not limited to, changes to business plans
as circumstances warrant, and limited partner interests of Oasis
Midstream may not ultimately be offered to the public because of,
general market conditions or other factors. For a full discussion
of these risks and uncertainties, please refer to the "Risk
Factors" section of the Registration Statement on Form S-1. Oasis
Midstream refers you to that discussion for further
information.
About Oasis Petroleum Inc.
Oasis Petroleum 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. For more
information, please visit Oasis Petroleum's website
at www.oasispetroleum.com.
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SOURCE Oasis Petroleum Inc.