HOUSTON, Nov. 8, 2018
/PRNewswire/ -- Oasis Midstream Partners LP (NYSE: OMP) ("Oasis
Midstream" or the "Partnership") announced today that it has priced
an underwritten public offering of 2,000,000 common units
representing limited partnership interests ("common units") for
total gross proceeds (before the underwriters' discounts and
commissions and estimated offering expenses) of $40,000,000. The Partnership intends to use the
net proceeds from the offering to fund a portion of the purchase
price for the previously announced acquisition from Oasis Petroleum
Inc. (NYSE: OAS) ("Oasis Petroleum") of an additional 15% limited
liability company interest in Bobcat DevCo LLC and an additional
30% limited liability company interest in Beartooth DevCo 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 partnership purposes, which may
include, among other things, debt repayment, acquisitions, capital
expenditures and additions to working capital. The
Partnership granted the underwriters a 30-day option to purchase up
to 300,000 additional common units. The offering is
expected to close November 14, 2018.
Morgan Stanley and J.P. Morgan 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
on October 26, 2018. 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 Morgan Stanley & Co. LLC, attention Prospectus
Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or J.P. Morgan
Securities LLC, via Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York
11717, telephone: (866) 803-9204, email:
prospectus-eq_fi@jpmchase.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
Partnership 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 us of offering proceeds and other aspects of the common
unit offering. These statements are based on certain assumptions
made by the Partnership 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
Partnership, which may cause actual results to differ materially
from those implied or expressed by the forward-looking statements.
These include, but are not limited to, the Partnership's ability to
integrate acquisitions into its existing business, changes in oil
and natural gas prices, weather and environmental conditions, the
timing of planned capital expenditures, availability of
acquisitions, the closing of the Acquisition, uncertainties in the
estimates of proved reserves and forecasted production results of
the Partnership's customers, operational factors affecting the
commencement or maintenance of producing wells, the condition of
the capital markets generally, as well as the Partnership'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 Partnership's business and other important factors. Should one
or more of these risks or uncertainties occur, or should underlying
assumptions prove incorrect, the Partnership's actual results and
plans could differ materially from those expressed in any
forward-looking statements.
Any forward-looking statement speaks only as of the date on
which such statement is made and the Partnership 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 Midstream Partners LP
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
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.
For further information: Oasis Midstream Partners LP,
Bob Bakanauskas, (281) 404-9600,
Director, Investor Relations
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SOURCE Oasis Midstream Partners LP