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Oasis Petroleum Inc Completes Williston Basin Acquisition


Tuesday, 1 Oct 2013 04:30pm EDT 

Oasis Petroleum Inc announced the closings of its previously announced acquisitions in the Williston Basin. On October 1, 2013, the Company completed the acquisition of certain assets in and around its position in North Dakota in its West Williston project area (the West Williston Acquisition) for total consideration of approximately $1,479 million, including normal and customary closing adjustments. The effective date for the West Williston Acquisition was April 1, 2013, and the final purchase price is subject to further customary post close adjustments. Concurrent with the closing of the West Williston Acquisition, the Company funded the acquisition with proceeds from its issuance of $1.0 billion of 6.875% senior unsecured notes due 2022 (the "Notes") and borrowings under its revolving credit facility. The Company completed its offering of the Notes on September 24, 2013. On September 26, 2013, the Company closed its three previously announced acquisitions in the East Nesson project area (the East Nesson Acquisitions) for total consideration of approximately $63 million, including normal and customary closing adjustments. The effective dates for the East Nesson Acquisitions were all July 1, 2013, and the final purchase prices are subject to further customary post close adjustments. 

Company Quote

55.23
-1.3 -2.30%
4:03pm EDT