Company: Oasis Midstream Partners LP
Symbol: OMP
Description: They are a growth-oriented, fee-based master limited partnership formed by our sponsor, Oasis Petroleum Inc. (NYSE: OAS) to own, develop, operate and acquire a diversified portfolio of midstream assets in North America that are integral to the oil and natural gas operations of Oasis and are strategically positioned to capture volumes from other producers.
Shares: 7.5 million
Range: $19.00-$21.00
Trade Date: 9/21
Underwriter(s): Morgan Stanley, Citigroup, Wells Fargo Securities, Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co., J.P. Morgan, RBC Capital Markets
Co-Manager(s): BOK Financial Securities, BB&T Capital Markets, BBVA, BTIG, Capital One Securities, CIBC Capital Markets, Citizens Capital Markets, Comerica Securities, Heikkinen Energy Advisors, IBERIA Capital Partners, ING, Johnson Rice & Company, Regions Securities, Simmons & Company International
Energy Specialists of Piper Jaffray, Tudor Pickering Holt & Co.
Business: Their current midstream operations are performed exclusively within the Williston Basin, one of the most prolific crude oil producing basins in North America. They will generate substantially all of their revenues through 15-year, fixed-fee contracts pursuant to which they provide crude oil, natural gas and water-related midstream services for Oasis. They expect to grow acquisitively through accretive, dropdown acquisitions, as well as organically as Oasis continues to develop its acreage in the Williston Basin. Additionally, they expect to grow by offering services to third parties and through acquisitions of midstream assets from third parties.
Competition and Sector Performance: – Data as of September 15th AM
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