Oasis petroleum inc. announces strategic sale of its permian assets and updates 2021 outlook

Houston, may 20, 2021 /prnewswire/ -- oasis petroleum inc. (nasdaq: oas) ("oasis" or the "company") announced today it has entered into a series of definitive agreements to sell its entire permian basin position for total gross potential consideration of $481mm. the total consideration consists of $406mm at closing and up to three $25mm annual contingent payments in 2023, 2024 and 2025 if wti averages over $60 per barrel in each respective calendar year.
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