The Firm recently represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A and Reg S debut offering of $400 million aggregate principal amount of 6.375% Senior Notes due 2026 (the “Notes”) by Oasis Petroleum Inc. (“OAS”). OAS intends to use the net proceeds from the offering to fund a portion of the consideration in connection with its acquisition of approximately 95,000 net acres in the Williston Basin from QEP Energy Company, a wholly-owned subsidiary of Diamondback Energy, Inc. and to repay related costs and expenses.
OAS is an independent exploration and production company focused on the acquisition and development of onshore, unconventional crude oil and natural gas resources in the United States. It also operates a midstream business through its subsidiary, Oasis Midstream Partners LP, a leading gathering and processing master limited partnership that owns, develops, operates and acquires a diversified portfolio of midstream assets in North America.
The Simpson Thacher team included Dave Azarkh, Ashley Yoon and Anna Jarman (Capital Markets); Nancy Mehlman and Jasmine Hay (Tax); Mike Isby (Environmental); Ashlie Lawton (Executive Compensation and Employee Benefits); Melanie Jolson (Intellectual Property); and Jennie Getsin (Blue Sky).