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Oasis Petroleum Inc Announces Acquisition Of 136,000 Net Acres Of Land - Form 8-K

Thursday, 5 Sep 2013 08:56am EDT 

Oasis Petroleum Inc reported in its Form 8-K that it has entered into a purchase and sale agreement (the Purchase Agreement) with an undisclosed private seller, pursuant to which the Company will purchase 136,000 net acres in the Williston Basin for approximately $1,450 million (the Purchase Price), subject to purchase price adjustments (the West Williston Acquisition). The Company currently expects to close the transaction during early October 2013, subject to obtaining required regulatory approvals and other customary closing conditions. The effective date for the transaction is April 1, 2013, with any purchase price adjustments to be calculated as of the closing date. The Company expects to fund the Purchase Price of the West Williston Acquisition with borrowings under its revolving credit facility or, subject to market conditions, proceeds from the issuance of private or public securities. 

Company Quote

-1.05 -5.93%
24 Dec 2014