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Announced

Completed

Oasis Midstream Partners completed the acquisition of Bobcat and Beartooth from Oasis Petroleum for $250m.

Synopsis

Oasis Midstream Partners, a provider crude oil, natural gas, and water-related midstream services, completed the acquisition of Bobcat and Beartooth from Oasis Petroleum for $250m. The acquisition increased OMP's interest in the Bobcat DevCo to 25% from 10% and increased OMP's interest in the Beartooth DevCo to 70% from 40%. "The closing of Oasis Midstream Partners' acquisition of additional interests in the Bobcat and Beartooth DevCos represents a strong end to an amazing year. This accretive purchase substantially increases OMP's scale while enhancing the coverage outlook. It's been a little over a year since OMP's IPO, and the team has done a fabulous job executing our strategy, growing cash flow, and diversifying our customer base through third-party agreements. Since our IPO, we've increased the 2019 EBITDA outlook almost 70% organically, and the completion of our first drop increases the 2019 EBITDA estimate even further, now more than double our original projections. We're excited about the future at OMP and look forward to delivering for our investors," Taylor Reid, OMP Chief Executive Officer.

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