oasis petroleum merger
Suite 1500 It is expected that the restructuring process will be completed on an accelerated timeframe allowing for an emergence in November, subject to court approval. 79706 Midland, TX Grace period allows the company to make the due payments within 30 days to avoid a formal default. 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. At Tuesday’s closing price, Oasis had a market cap of about $131 million. JavaScript needs to be enabled to complete CAPTCHA. 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. Oasis Petroleum had a market cap of about $3.25 billion Thursday afternoon. Action Alerts PLUS is a registered trademark of TheStreet, Inc. On Tuesday, the stock closed at $0.41, and it has dropped another 25% in premarket trading Wednesday to trade at $0.31. 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. We take pride in building strong, lasting relationships with our royalty owners. 58801 8004 West Highway 80 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. 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. In the first half of the year, 23 companies filed for bankruptcy. Additionally, the company has entered into a commitment letter for an exit revolving credit facility with borrowing capacity up to $575M. (PE) - Get Report , Lilis Energy Inc. Neither Oasis Midstream Partners L.P. (NASDAQ: OMP), in which Oasis Petroleum owns a stake of around 45%, nor any of the pipeline partnership’s affiliated companies are included in the bankruptcy filing.
(OAS) - Get Report surged late in Thursday, Nov. 1, trading, up over 2% to $10.27 per share around 2:45 p.m., amid takeover speculation regarding the oil explorer and producer in analysts notes, media reports and on social media. (REI) - Get Report , Whiting Petroleum Corp. (WLL) - Get Report , WPX Energy Inc.
The oil patch has been besieged by the economic downturn caused by the COVID-19 pandemic. Database of selected U.S. and international exploration wells. The Oasis Petroleum Corporation of Culver City, Calif., and the USA Petroleum Corporation of Santa Monica, Calif., said they had agreed to … Oasis Petroleum Inc. said on Sept. 18 it has entered a 30-day grace period after failing to make interest payments on some bonds maturing in 2022 and 2023, adding that the company is in talks with its lenders on a financial restructuring. (JAG) - Get Report , Parsley Energy Inc. P (701) 577-1600, Oasis Petroleum Plans of Reorganization, Merger, Acquisition or Similar Filter. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Existing shares are virtually certain to be canceled. (REN) , SM Energy Co. In addition, vendors and suppliers are expected to be paid in full, and the company intends to seek court approval to pay vendors for all goods and services provided on or after the Chapter 11 filing date in the ordinary course of business. (HK) , Ring Energy Inc.
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. 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.
Oasis Petroleum Inc. Oasis is the latest shale producer to look at financial restructuring, as the industry grapples with a slump in oil prices and a crash in demand due to the coronavirus crisis that has pushed several firms into bankruptcy. 6205 16th Avenue W
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.
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