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Oasis Petroleum Inc. Announces Committed Financing Package to Fund Acquisition of Williston Basin Assets from QEP Energy

Oasis Petroleum Inc. Announces Committed Financing Package to Fund Acquisition of Williston Basin Assets from QEP Energy Background Image

Vinson & Elkins advised Oasis Petroleum Inc. on a committed financing package to fund the recently announced acquisition of select Williston Basin assets from QEP Energy Company, a wholly owned subsidiary of Diamondback Energy, Inc. The bridge to bond financing consisted of a committed bridge financing and a $400 million offering of 6.375% senior notes due 2026.

The offering priced on May 25, 2021 and is expected to close on June 9, 2021.

Oasis Petroleum Inc. is an independent exploration and production company with quality and sustainable long-lived assets in the Williston and Permian Basins.

The V&E corporate team was led by partners David Oelman and Noel Hughes, with assistance from senior associates Andrew Schulte and Caitlin Snelson and associates David Lassetter, Matt Fiorillo and Taylor Kim. Also advising were partner Wendy Salinas and counsel Debbie Duncan; partner David D’Alessandro and counsel Dario Mendoza; counsel Larry Pechacek; and associate Taylor Daily.

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