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Oasis Petroleum Inc. Announces Extension of the Outside Date for Acquisition of Williston Basin Assets
HOUSTON, Sept. 30, 2021 /PRNewswire/ -- Oasis Petroleum Inc. (NASDAQ: OAS) ("Oasis" or the "Company") announced today that the Company and QEP Energy Company
About this update from Chord Energy Corporation
[{"type":"text","content":"HOUSTON, Sept. 30, 2021 /PRNewswire/ -- Oasis Petroleum Inc. (NASDAQ: OAS) (\"Oasis\" or the \"Company\") announced today that the Company and QEP Energy Company (\"QEP\"), a wholly-owned subsidiary of Diamondback Energy, Inc., have agreed to extend the outside date for the consummation of the Company's previously announced acquisition of QEP's Williston Basin assets to October 27, 2021. Both Oasis and Diamondback remain committed to the transaction and expect it to close in the next few weeks, timing depending on final government approval. The transaction was valued at $745MM with an effective date of April 1, 2021. Final consideration will be reduced by the $75MM deposit paid in 2Q21 and customary purchase price adjustments related to free cash flow generated from effective date to close. \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 the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including the Company's drilling program, production, derivative instruments, capital expenditure levels and other guidance included in this press release, as well as the impact of the novel coronavirus 2019 (\"COVID-19\") pandemic on the Company's operations. 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 appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include, but are not limited to, changes in crude oil and natural gas prices, develo...