OASIS PETROLEUM INC. (NYSE:OAS) Files An 8-K Entry into a Material Definitive AgreementItem 9.01 Entry into a Material Definitive Agreement.
Third Amended and Restated Credit Agreement
On October 16, 2018, Oasis Petroleum North America LLC, a wholly owned subsidiary of Oasis Petroleum Inc. (the “Company”), entered into a Third Amended and Restated Credit Agreement with its bank syndicate (the “Credit Agreement”) in order to extend the maturity date of the credit facility and provide for the scheduled redetermination of the borrowing base.
to the Credit Agreement, the credit facility was extended from April 2020 to October 2023, provided that the Company's 2022 and 2023 Senior Notes are retired or refinanced 90 days prior to their respective maturities. Additionally, the lenders under the Company’s revolving credit facility completed their regular semi-annual redetermination of the borrowing base, resulting in the reaffirmation of the Company’s borrowing base at $1.60 billion with elected commitments remaining at $1.35 billion. The next redetermination of the borrowing base is scheduled for April 1, 2019.
The foregoing description of the Credit Agreement is a summary only and is qualified in its entirety by reference to the complete text of the Credit Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 9.01 of this Current Report on Form 8-K concerning the Credit Agreement is incorporated by reference into this Item 9.01 of this Current Report on Form 8-K.
Item 9.01 Regulation FD Disclosures.
On October 19, 2018, the Company issued a press release announcing the redetermination and extension of the Company's borrowing base, the schedule with respect to the release of first quarter financial and operational results, and participation in upcoming investor conferences.
The information in this Item 9.01 (including the exhibit) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
Oasis Petroleum Inc. ExhibitEX-10.1 2 oasispetroleum-3rdarcredit.htm EXHIBIT 10.1 Exhibit Exhibit 10.1THIRD AMENDED AND RESTATED CREDIT AGREEMENTDATED AS OF OCTOBER 16,…To view the full exhibit click
About OASIS PETROLEUM INC. (NYSE:OAS)
Oasis Petroleum Inc. is an independent exploration and production company. The Company 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. Its segments 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 (OPNA), 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. The Company’s projects include Williston Basin, West Williston and East Nesson. It also operates a well services business through Oasis Well Services LLC (OWS) and a midstream services business through Oasis Midstream Services LLC (OMS).