Oasis Petroleum Inc. (NYSE: OAS) has priced an underwritten public offering of 34,000,000 shares of common stock for total gross proceeds (before the underwriter's discounts and commissions and estimated offering expenses) of approximately $160 million.
Oasis intends to use the net proceeds of this offering for general corporate purposes and to fund a portion of its 2016 capital expenditures. The company granted the underwriter a 30-day option to purchase up to 5,100,000 additional shares of common stock. The offering is expected to close on Feb. 2.
Citigroup is acting as sole book-running manager for the offering.