The Firm recently represented the initial purchasers, led by Citigroup Global Markets Inc., in connection with a Rule 144A and Reg S debut offering of $450 million aggregate principal amount of 8% Senior Notes due 2029 (the “Notes”) by Oasis Midstream Partners LP (“OMP”) and, its wholly owned subsidiary, OMP Finance Corp. OMP is a wholly owned subsidiary of Oasis Petroleum Inc. (“OAS”). OMP intends to use the net proceeds from the offering to make a distribution to Oasis Midstream Services LLC, a wholly owned subsidiary of OAS, in connection with its simplification transaction with OAS and to repay outstanding borrowings under its revolving credit facility.
OMP is a premier gathering and processing master limited partnership formed by its sponsor, OAS, 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 OAS and are strategically positioned to capture volumes from other producers.
The Simpson Thacher team included Dave Azarkh, Ryan Bekkerus, Ashley Yoon and Aseda Ghartey-Tagoe (Capital Markets); Jon Cantor and Jasmine Hay (Tax); Mike Isby (Environmental); Abram Ellis and Christine Tillema (Regulatory); Ashlie Lawton (Executive Compensation and Employee Benefits); Melanie Jolson (Intellectual Property); and Jennie Getsin (Blue Sky).