Operator
Good day, and welcome to the Oasis first-quarter 2021 earnings conference call. [Operator instructions] Please note, this event is being recorded. I would now like to turn the conference over to Michael Lou, CFO. Please go ahead.
Michael Lou
Chief Financial Officer
Thank you, Betsy. Good morning, everyone. This is Michael Lou. Today, we are going to discuss our first-quarter 2021 financial and operational results and our acquisition announcement.
We re delighted to have you on our call. I m joined today by Danny Brown, Taylor Reid, as well as other members of the team. Please be advised that our remarks on both Oasis Petroleum and Oasis Midstream Partners, including the answers to your questions, include statements that we believe to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from tho
Oasis Midstream Partners LP Announces First Quarter 2021 Results, Increases Distribution and Updates 2021 Outlook
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HOUSTON, May 3, 2021 /PRNewswire/ Oasis Midstream Partners LP (NASDAQ: OMP) ( OMP or the Partnership ) today announced financial and operating results for the first quarter of 2021, declared its first quarter 2021 distribution and updated its 2021 outlook.
1Q21 Operational and Financial Highlights:
Acquired remaining interests in Bobcat DevCo and Beartooth DevCo from Oasis Petroleum and eliminated IDRs (the Simplification );
Completed private placement of $450.0MM in aggregate principal amount of 8.00% senior unsecured notes due 2029;
Recently signed multiple incremental third-party contracts and continue to work a robust pipeline of new opportunities in the Williston and Permian Basins;
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HOUSTON, May 3, 2021 /PRNewswire/ Oasis Petroleum Inc. (NASDAQ: OAS) ( Oasis or the Company ) today announced a strategic acquisition of Williston Basin assets, reported financial and operating results for the first quarter of 2021, declared its first quarter 2021 dividend, and updated its 2021 outlook to incorporate the acquisition, including an expected 33% increase to its future quarterly fixed dividend after the acquisition closes.
Williston Basin Acquisition
Oasis announced it has entered into a definitive agreement under which Oasis will acquire select Williston Basin assets from Diamondback Energy in a cash transaction valued at approximately $745MM, subject to customary purchase price adjustments. The consideration is expected to be financed through cash on hand (approximately $106MM as of March 31, 2021), revolver borrowings ($450MM elected commitment on $500MM borrowing base, none drawn as of March 31, 2021), and a $500MM fully
Oasis Midstream Partners Schedules First Quarter 2021 Conference Call for May 6, 2021
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HOUSTON, April 23, 2021 /PRNewswire/ Oasis Midstream Partners LP (Nasdaq: OMP) ( Oasis Midstream or the Partnership ) plans to announce its First Quarter 2021 financial and operational results on Wednesday, May 5, 2021 at market close. Additionally, the Company will host a live webcast and conference call on Thursday, May 6, 2021 at 12:00 p.m. Central Time to discuss First Quarter 2021 financial and operational results.
Investors, analysts and other interested parties are invited to listen to the webcast:
Date: Thursday, May 6, 2021
Time: 12:00 p.m. Central Time
Dial-in: 888-317-6003
Oasis Petroleum Schedules First Quarter 2021 Conference Call for May 6, 2021
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HOUSTON, April 23, 2021 /PRNewswire/ Oasis Petroleum Inc. (Nasdaq: OAS) ( Oasis or the Company ) plans to announce its First Quarter 2021 financial and operational results on Wednesday, May 5, 2021 at market close. Additionally, the Company will host a live webcast and conference call on Thursday, May 6, 2021 at 10:30 a.m. Central Time to discuss First Quarter 2021 financial and operational results.
Investors, analysts and other interested parties are invited to listen to the webcast:
Date:
Live Webcast:
Dial-in:
Replay dial-in:
The call will also be available for replay for approximately 30 days at www.oasispetroleum.com.