Crestwood Equity Partners has completed Oasis Midstream acquisition

Crestwood Equity Partners LP (NYSE: CEQP) ("Crestwood") and Oasis Midstream Partners LP ("Oasis Midstream") announced today that the companies have successfully closed the transactions contemplated by the previously announced merger agreement. As a result of the combination, Crestwood has significantly enhanced its scale and competitive position in the Williston and Delaware Basins, enabling the company to capture expected operational and commercial synergies of approximately $45 million and driving enhanced financial strength and flexibility.

As previously announced, under the terms of the merger agreement, public holders of Oasis Midstream common units will receive 0.8700 Crestwood common units in exchange for each Oasis Midstream common unit. As previously announced, Crestwood unitholders as of the February 7, 2022 record date, including legacy Oasis Midstream unitholders that remain Crestwood unitholders, will receive Crestwood’s $0.625 per limited partner unit distribution, attributed to the fourth quarter 2021 and payable on February 14, 2022. Crestwood will utilize excess available free cash flow from the combined company to make the fourth quarter 2021 distribution payment.

Since I own 70 shares of Oasis Midstream Partners, I will receive 60 shares of Crestwood Equity Partners and small amount of cash. As Crestwood is paying distribution for February already, I should receive $37.5 in dividends also.