Business
Oasis Petroleum Enters Interest Payment Grace Period to Continue Discussions with Lenders and Noteholders
Business Operations Continuing in the Normal Course HOUSTON, Sept. 18, 2020 /PRNewswire/ -- Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis Petroleum" or the
About this update from Chord Energy Corporation
[{"type":"text","content":"Business Operations Continuing in the Normal Course\n\n\nHOUSTON, Sept. 18, 2020 /PRNewswire/ -- Oasis Petroleum Inc. (NASDAQ: OAS) (\"Oasis Petroleum\" or the \"Company\") today announced that the Company elected to enter into a 30-day grace period and defer making the interest payments due September 15, 2020 on its 6.875% Senior Unsecured Notes due 2022 and 2.625% Senior Unsecured Convertible Notes due 2023 while it continues ongoing constructive discussions with its lenders and a group of ad hoc noteholders on a comprehensive financial restructuring to strengthen Oasis Petroleum's balance sheet and financial position. \nOasis Petroleum has sufficient liquidity and continues to operate its business in the normal course. Oasis Midstream Partners (NASDAQ: OMP), an independent legal entity operated as a Master Limited Partnership, is not included as part of the discussions related to a financial restructuring and remains independently well-capitalized.\nAbout Oasis Petroleum Inc.\nOasis Petroleum is an independent exploration and production company focused on the acquisition and development of onshore, unconventional crude oil and natural gas resources in the United States. For more information, please visit the Company's website at www.oasispetroleum.com.\nForward-Looking Statements\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 Oasis Petroleum's ability to successfully execute its business and financial strategies, including a comprehensive restructuring plan, Oasis Petroleum's ability to reduce its debt or strengthen its financial position; and Oasis Petroleum's future financial and operating performance. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be...