HOUSTON, June 25, 2018 /PRNewswire/ -- Oasis
Petroleum Inc. (NYSE: OAS) ("Oasis" or the "Company") has signed
two separate purchase and sale agreements to sell an estimated 4.4
thousand barrels of oil equivalent per day ("mboepd") of net
production and approximately 65,000 net acres of non-core assets in
the Williston Basin for $283 million.
The agreements include the Company's Foreman Butte position, which
included inventory that we characterized as fairway, and certain
non-operated acreage. Oasis plans to formally update guidance
concurrent with its second quarter 2018 earnings release. RBC
Richardson Barr and CIBC Griffis
& Small acted as financial advisors to Oasis.
"We highlighted approximately 200,000 net acres and 8 to 10
mboepd of production that could be divested for an estimated
$500 million in proceeds," said
Thomas B. Nusz, Oasis' Chairman and
Chief Executive Officer. "With these transactions, we are pleased
to report that Oasis has made significant progress towards that
target, selling a fraction of the non-core acreage for over half
the estimated proceeds. We continue to evaluate additional non-core
properties for potential divestment as we optimize our portfolio
and high-grade our assets."
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 and Delaware Basins. For more
information, please visit the Company's website at
www.oasispetroleum.com.
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SOURCE Oasis Petroleum Inc.