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Oasis Midstream Partners Declares Third Quarter 2021 Distribution
HOUSTON, Oct. 26, 2021 /PRNewswire/ -- Oasis Midstream Partners LP (NASDAQ: OMP) ("OMP" or the "Partnership") today announced that, on October 24, 2021, the
About this update from Chord Energy Corporation
[{"type":"text","content":"HOUSTON, Oct. 26, 2021 /PRNewswire/ -- Oasis Midstream Partners LP (NASDAQ: OMP) (\"OMP\" or the \"Partnership\") today announced that, on October 24, 2021, the Board of Directors of OMP GP LLC (the \"General Partner\") declared the quarterly cash distribution for the third quarter of 2021 of $0.56 per unit, payable on November 29, 2021 to unitholders of record as of November 15, 2021. \nCrestwood Transaction\nIn a separate press release issued today, OMP announced it has entered into a definitive merger agreement under which Crestwood Equity Partners LP (NYSE: CEQP) (\"Crestwood\") will acquire OMP in an equity and cash transaction valued at approximately $1.8 billion, including the assumption of debt. The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including regulatory approvals and approval by the common unitholders of the Partnership. OMP expects to continue to pay distributions to unitholders until the completion of the transaction. \nAs of September 30, 2021, the Partnership had cash and cash equivalents of $29.7MM and $210.0MM of borrowings outstanding and $5.5MM of outstanding letters of credit under its revolving credit facility (the \"Revolving Credit Facility). As of September 30, 2021, the aggregate commitments under the Revolving Credit Facility were $450.0MM, and the Partnership had an unused borrowing capacity of $234.5MM. \nOMP expects to file its third quarter 2021 Form 10-Q by November 9, 2021. As a result of the pending transaction, OMP has cancelled its third quarter results conference call originally scheduled for 11:30 am Central Time on November 4, 2021. \nContact: Bob Bakanauskas, Director, Investor Relations (281) [email protected] \nForward-Looking Statements\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include t...