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Oasis Midstream Partners LP Prices $450 Million Inaugural Senior Notes Offering

Oasis Midstream Partners LP Prices $450 Million Inaugural Senior Notes Offering Background Image

Vinson & Elkins represented Oasis Midstream Partners LP (the “Issuer” or “OMP”) in connection with its offering of $450 million in aggregate principal amount of Senior Unsecured Notes due 2029 (the “Notes”).

The Notes were priced on March 26, 2021 and the Issuer intends to use the net proceeds from this offering to make a distribution to Oasis Midstream Services LLC, a wholly-owned subsidiary of Oasis Petroleum Inc., in connection with the previously announced simplification transaction with Oasis Petroleum Inc., in the amount of approximately $231.5 million and to repay approximately $205.5 million of outstanding borrowings under OMP’s revolving credit facility.

Oasis Midstream Partners LP is a premier gathering and processing master limited partnership formed by its sponsor, Oasis Petroleum Inc., to own, develop, operate and acquire a diversified portfolio of midstream assets in North America.

The V&E team was led by partners David Oelman and Noel Hughes, with assistance from counsel Christianne Williams and associates Anthony Sanderson, Matthew Fiorillo and Taylor Kim.

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