HOUSTON, March 22, 2021 /PRNewswire/ -- Oasis Midstream
Partners LP (Nasdaq: OMP) (the "Partnership" or "OMP") announced
today that, subject to market conditions, it and its wholly-owned
subsidiary, OMP Finance Corp., intend to offer $450 million in aggregate principal amount of
senior unsecured notes due 2029 in a private placement to eligible
purchasers.
The Partnership intends to use the net proceeds from this
offering to make a distribution to Oasis Midstream Services LLC, a
wholly-owned subsidiary of Oasis Petroleum Inc., in connection with
the previously announced simplification transaction with Oasis
Petroleum Inc., in the amount of approximately $229 million and to repay approximately
$208 million of outstanding
borrowings under OMP's revolving credit facility.
The notes to be offered have not been registered under the
Securities Act of 1933, as amended, (the "Securities Act"), or any
state securities laws; and unless so registered, the securities may
not be offered or sold in the United
States absent an applicable exemption from, or a transaction
not subject to, registration requirements of the Securities Act and
applicable state securities laws. The notes are being offered and
sold only to qualified institutional buyers in the United States pursuant to Rule 144A
under the Securities Act and outside the
United States in compliance with Regulation S under the
Securities Act.
This press release is being issued pursuant to Rule 135c
under the Securities Act and is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
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 use of offering proceeds and other aspects of the notes
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, closing of the
Acquisition and related transactions, closing of the proposed
offering and the intended use of proceeds, the Partnership's
ability to integrate acquisitions into its existing business,
changes in crude oil and natural gas prices, weather and
environmental conditions, the timing of planned capital
expenditures, availability of acquisitions, 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 Partners LP is a premier gathering and
processing master limited partnership formed by its sponsor, Oasis
Petroleum Inc. to own, develop, operate and acquire a diversified
portfolio of midstream assets in North
America that are integral to the crude oil and natural gas
operations of Oasis Petroleum Inc. and are strategically positioned
to capture volumes from other producers. For more information,
please visit the Partnership's website at
www.oasismidstream.com.
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SOURCE Oasis Petroleum Inc.; Oasis Midstream Partners LP
