HOUSTON, May 8, 2017 /PRNewswire/ -- Oasis Petroleum
Inc. (NYSE:OAS) ("Oasis" or the "Company") announced today its
intention to contribute a portion of its midstream assets to a
Master Limited Partnership (MLP) and sell a minority interest in
the MLP in an initial public offering. The MLP is intended to
support Oasis's strategy to grow its midstream business. The
midstream assets that are expected to be contributed to the MLP are
located in the Williston Basin
area of North Dakota and/or
Montana and include a portion of
Oasis's (i) crude oil gathering and transportation system, (ii)
natural gas gathering and processing system and (iii) water
handling systems.
There can be no assurance that there will be an initial public
offering of the MLP or any other transaction. Oasis expects to file
a registration statement with the Securities and Exchange
Commission in the second quarter of 2017. This announcement
does not constitute an offer to sell, or the solicitation of an
offer to buy, any securities. This announcement is being
issued pursuant to, and in accordance with, Rule 135 under the
Securities Act of 1933.
This announcement contains certain statements that are
"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 concerning Oasis's intention
to conduct an initial public offering of interests in the MLP.
There can be no assurance that actual results will not differ
from the Company's expectations. These statements contain
words such as "intend," "will" and "expect" and can be impacted by
numerous factors including the risk that the offering may not occur
in its expected timeframe or at all, the securities market
generally, the market for Oasis's midstream assets, changes in laws
including with respect to tax and regulatory matters and other
risks. For more information concerning factors that could
affect these statements see Oasis's annual report on Form 10-K
and quarterly reports on Form 10-Q, filed with the Securities
and Exchange Commission. We undertake no obligation to update
or revise such forward-looking statements to reflect events or
circumstances that occur, or which we become aware of, after the
date hereof.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/oasis-petroleum-announces-plans-for-an-initial-public-offering-of-certain-of-its-midstream-assets-300453549.html
SOURCE Oasis Petroleum Inc.