Oasis midstream partners completes acquisition of midstream interests from oasis petroleum and idr elimination

Houston, march 30, 2021 /prnewswire/ -- oasis midstream partners lp (nasdaq: omp) (the "partnership" or "omp") successfully closed the acquisition of all remaining interests in bobcat devco llc ("bobcat devco") and beartooth devco llc ("beartooth devco") from oasis petroleum inc. (nasdaq: oas) ("oasis") as well as eliminated the partnership's incentive distribution rights ("idrs") in exchange for $231.5 million cash and 14.8 million units for total consideration of approximately $512.5 million based on omp's 20 day volume weighted average price ending on march 19, 2021 (the "simplification"). the simplification also includes a right of first refusal in favor of omp with respect to midstream opportunities in the painted woods and city of williston operating areas of oasis.
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