Oasis Petroleum Increases Maximum Purchase in Tender Offer to $366.8 Mln (NYSE:OAS)

Oasis Petroleum (NYSE:OAS) said it has increased the maximum purchase price under its cash tender offer for outstanding senior notes from $275 million to $366.8 million. It says all other terms and conditions remain unchanged. Stock in the company is down almost 3% in morning trading.

The stock decreased 2.86% or $0.27 during the last trading session, hitting $9.18. About 9.91M shares traded hands or 0.51% up from the average. Oasis Petroleum Inc. (NYSE:OAS) has risen 102.65% since February 24, 2016 and is uptrending. It has outperformed by 90.72% the S&P500.

Oasis Petroleum Inc. is an independent exploration and production company. The company has a market cap of $1.54 billion. The Firm is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. It currently has negative earnings. The Company’s divisions include Exploration and Production, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC , and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.

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