Oasis Petroleum Inc. (NYSE: OAS) has begun an underwritten public offering of 7 million shares of common stock. Oasis intends to use the net proceeds of this offering to repay outstanding borrowings under its credit facility and for general corporate purposes.
Citigroup Global Markets Inc. is acting as the sole underwriter for the offering. The underwriter may offer the shares of common stock from time to time in one or more transactions in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices.
Oasis is an independent exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources, primarily operating in the Williston Basin.