HOUSTON, Dec. 11, 2017 /PRNewswire/ -- Oasis
Petroleum Inc. (NYSE: OAS) ("Oasis" or the "Company")
announced today that it has priced an underwritten public offering
of 32,000,000 shares of common stock for total gross proceeds
(before the underwriters' discounts and commissions and estimated
offering expenses) of approximately $321.9
million. The Company intends to use the net proceeds from
this offering to fund a portion of the previously announced
acquisition of assets in the Permian Basin from Forge Energy, LLC
(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 2018
capital budget. Oasis granted the underwriters a 30-day
option to purchase up to 4,800,000 additional shares of common
stock. The offering is expected to close December 13,
2017.
Goldman Sachs & Co. LLC and Credit Suisse Securities
(USA) LLC 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 14, 2017. 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 Goldman Sachs & Co. LLC,
attention Prospectus Department, 200 West Street, New York, New York 10282, telephone:
866-471-2526, email: prospectus-ny@ny.email.gs.com; or Credit
Suisse, attention Prospectus Department, Eleven Madison Avenue,
Level 1B, New York, NY 10010, telephone: 800-221-1037,
email: newyork.prospectus@credit-suisse.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, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. 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, the closing of the Acquisition,
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 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 and Delaware Basins.
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SOURCE Oasis Petroleum Inc.