Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis" or the
"Company") announced today that Oasis Midstream Partners (NASDAQ: OMP)
("OMP") has entered into a definitive agreement under which it will
merge with Crestwood Equity Partners LP (NYSE: CEQP) ("Crestwood").
Under the terms of the agreement, Oasis, as a unitholder of OMP, will
receive $160MM in cash in addition to approximately 21.0MM common units
of CEQP in aggregate in exchange for its 33.85MM OMP common units and
non-economic general partner stake. Public OMP unitholders will receive
0.87 units of Crestwood common units for each unit of OMP owned. In the
aggregate, the total consideration represents an at-the-market
transaction based on the closing prices for OMP and Crestwood on
October 25, 2021, and implies an enterprise value for the combined companies of approximately
$6.9B. Upon completion of the transaction, Oasis will own approximately 21.7% of Crestwood common units.
Since I own 70 shares of OMP, I should receive 60 shares of CEQP and some cash
No comments:
Post a Comment