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8-K - FORM 8-K - Oasis Petroleum Inc. | h79315e8vk.htm |
Exhibit 99.1
Oasis Petroleum Inc. Announces Pricing of $400 Million Offering of Senior Notes
Houston, Texas January 28, 2011 Oasis Petroleum Inc. (NYSE: OAS) (Oasis or the Company)
announced today the pricing of its private placement of
$400 million of 7.25% senior unsecured notes
due 2019. The notes were sold at par. The size of the offering
was increased from the previously announced $300 million to $400 million. The offering is expected
to close on February 2, 2011, subject to customary closing conditions. Oasis intends to use the net
proceeds from the offering to fund its exploration, development and acquisition program and for
general corporate purposes.
The securities offered have not been registered under the Securities Act of 1933, as amended, (the
Securities Act), or any state securities laws; and unless so registered, the securities may not
be offered or sold in the United States except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act and applicable state securities
laws. The senior unsecured notes are expected to be eligible for trading by qualified institutional
buyers under Rule 144A and non-U.S. persons under Regulation S.
This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither
an offer to sell nor a solicitation of an offer to buy the notes or any other securities and shall
not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the notes or
any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
Forward-Looking Statements
This 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 the expectations of
plans, strategies, objectives and anticipated financial and operating results of the Company,
including the Companys drilling program, production, derivatives activities, capital expenditure
levels and other guidance included in this press release. These statements are based on certain
assumptions made by the Company based on managements 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 oil and natural gas prices, the timing of planned capital expenditures,
availability of acquisitions, uncertainties in estimating proved reserves and forecasting
production results, operational factors affecting the commencement or maintenance of producing
wells, the condition of the capital markets generally, as well as the Companys ability to access
them, the proximity to and capacity of transportation facilities, and uncertainties regarding
environmental regulations or litigation and other legal or regulatory developments affecting the
Companys business and other important factors that could cause actual results to differ materially
from those projected as described in the Companys reports filed with the SEC.
Any forward-looking statement speaks only as of the date on which such statement is made and the
Company undertakes no obligation to correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as required by applicable law.
Contact:
Oasis Petroleum Inc.
Richard Robuck, (281) 404-9600
Director Investor Relations
Oasis Petroleum Inc.
Richard Robuck, (281) 404-9600
Director Investor Relations