Make Money on Closed-End Mutual Funds. (NFX) for $5.5 billion in stock, analysts at Tudor, Pickering, Holt & Co. speculated that several other mergers could be coming to the upstream oil and gas space in 2019. (ECA) - Get Report would acquire competitor Newfield Exploration Co. Oasis Midstream Partners (OMP), an independent legal entity operated as a master limited partnership, and all subsidiaries in which it owns an equity interest are not included in Oasis Petroleum's Chapter 11 proceedings. Upon court approval, the new financing, along with cash generated from the company's ongoing operations, is expected to provide sufficient liquidity for the company to continue operating in the ordinary course during the court-supervised process. Recovering more for less is the ultimate goal for operators and service companies. Oasis Petroleum is filing for bankruptcy protection and is ineligible for continued inclusion in the S&P SmallCap 600. (WLL) - Get Report , WPX Energy Inc. Compelling returns at $50 WTI portend bright supply picture. About Oasis Petroleum Inc.Oasis is an independent exploration and production company focused on the acquisition and development of onshore, … 6205 16th Avenue W Please contact us here Oasis Petroleum Inc. At Tuesday’s closing price, Oasis had a market cap of about $131 million. The stock’s 52-week range is $0.24 to $3.65. Existing shares are virtually certain to be canceled. Oasis Petroleum has a grim longer-term outlook.It may be able to avoid restructuring for now, but it faces a tough challenge in dealing with its large March 2022 debt maturity. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Subscribe for free to our newsletters for the latest energy news. Bloomberg's automated terminal service reported Thursday around 1:45 p.m. that interest in news about Oasis Petroleum was unusually high while the flow of information about the company was no greater than average. Oasis Petroleum skipped payments due September 15 on some of its debt, Bloomberg Law reports. News. Midland, TX Global demand has fallen, OPEC+ can’t keep its members in line enough to restrict production, and now Libya has once more ramped up exports. Oasis Midstream Partners, an independent company formed by Oasis Petroleum to operate pipelines and other infrastructure, is not part of the latter's talks with its lenders and remains “well-capitalized,” the oil producer said. Headquarters. (JAG) - Get Report , Parsley Energy Inc. We are committed to the physical safety of our employees, contractors, and the communities in which we operate and to being conscientious stewards of the environment. © 2020 Hart Energy. The company owed interest on $244.8M of convertible notes and $834.5M of unsecured notes maturing in 2022, according to Bloomberg data. Under terms of the "pre-packaged" plan, which is subject to Court approval, general unsecured pre-petition claims will also be paid in full upon the company's emergence from Chapter 11. Connecting upstream production to the downstream sector and putting midstream in the center of it all. Throughout the financial restructuring process, Oasis Petroleum's upstream operations and production and Oasis Midstream Partners' operations are expected to continue as normal. Gun sales have soared in the past year. Subscribe to get unmatched coverage of the oil and gas industry’s entire landscape. Latest data shows the largest indicative borrow rate increases among liquid option names include: Digital Ally (DGLY) 48.42% +2.21, Aphria (APHA) 10.25% +1.79, Genprex (GNPX) 79.99% +1.27, Carnival (CCL) 8.37% +0.49, Jumia Technologies (JMIA) 18.77% +0.24, Forum Merger II (FMCI) 0.61% +0.21, American Airlines (AAL) 2.81% +0.18, Oasis Petroleum (OAS) 26.25% +0.15, Canopy Growth (CGC) 13.09% +0.15, and Macerich (MAC) 9.89% +0.14. Oasis Petroleum did not respond to a request for comment Thursday. Oasis is a company formed upon a platform of values. Most states have ignored the advice about social distancing and... Each year, millions of Americans relocate to somewhere else in... ALSO READ: 4 Companies in Late-Stage Coronavirus Vaccine Testing: Will Big Pharma Win the Race. If you are interested in content, APIs are available. On Tuesday, the stock closed at $0.41, and it has dropped another 25% in premarket trading Wednesday to trade at $0.31. Oasis Petroleum determined that implementing a restructuring plan through a controlled, court-supervised restructuring is the right path forward. A comprehensive source for coverage of the financial landscape of the oil and gas industry. In connection with the RSA, and subject to court approval, Oasis Petroleum has received a commitment for $450M in debtor-in-possession financing from its existing lenders. TheStreet's sister publication The Deal highlighted this comparison in a Nov. 1 article on the Encana-Newfield merger, and pointed to an April 16 article in which the M&A news website identified Oasis as a future potential takeover target and said the company was marketing assets in North Dakota and Montana through RBC Capital Markets and CIBC Griffis & Small. Oasis Petroleum (NASDAQ: OAS) is an independent exploration and production company focused on the acquisition and development of unconventional onshore oil and natural gas resources in the United States. Under the plan filed by the company, Oasis said it intends to continue operations without interruption and to continue paying employees, royalty interest owners, working interest owners and surface rights owners. Information on assets, buyers and sellers, deal values, and more. The following entities are not included in the Oasis Petroleum Chapter 11 filing: Oasis Midstream Partners and subsidiaries, OMP Operating, Bobcat DevCo, Beartooth DevCo, Bighorn DevCo and Panther DevCo. Database of selected U.S. and international exploration wells. (CPE) - Get Report , Jagged Peak Energy Inc. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. The Scoop and Stack plays are still in the money but only with improved well spacing and effective management of frac-driven interactions. If the plan is approved, existing shareholders will receive four-year warrants convertible to new common stock in Oasis at a fixed price that is still to be determined. Through this financial restructuring, Oasis Petroleum intends to reduce its total indebtedness by $1.8B, representing 100% of its senior unsecured notes and senior unsecured convertible notes. 58801 In the first half of the year, 23 companies filed for bankruptcy. The pop in Oasis Petroleum's stock comes even as West Texas Intermediate oil prices slid more than 2.5% Thursday afternoon to about $63.59 a barrel, as strong U.S. supplies eased traders fears over Iran-sanction related global oil deficits. According to the announcement, Oasis expects to emerge from Chapter 11 reorganization in November with approximately $340 million in new borrowing under a new credit facility with a credit ceiling of $575 million. Oasis Petroleum had a market cap of about $3.25 billion Thursday afternoon. 77002 At its peak in the summer of 2014, Oasis Petroleum Inc. (NASDAQ: OAS) stock traded at nearly $60 a share.On Tuesday, the stock closed at $0.41, and it … We take pride in building strong, lasting relationships with our royalty owners. P (432) 999-6800, © 2020 Oasis Petroleum | All rights reserved, Source: Oasis Petroleum Inc. NYSE: OAS. The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more. P (701) 577-1600, Oasis Petroleum (WPX) - Get Report and Cimarex Energy Co. At last look, premarket shares had dropped to $0.26, down more than 36% since last night’s closing bell. (REI) - Get Report , Whiting Petroleum Corp. Since 2007, we have actively acquired and developed coveted assets in the premier oil basins in the US. Click here to register and watch for free. Prices for top E&P stocks and commodities.