Oasis Petroleum Inc. (NYSE: OAS) said May 8 it will establish an MLP to grow its midstream and sell a minority interest in that unit in an initial public offering.
Assets that are expected to be contributed to the MLP are in the Williston Basin area of North Dakota and/or Montana and include a portion of Oasis’ crude oil gathering and transportation system, natural gas gathering and processing system and water handling systems.
Oasis said it expects to file a registration statement with the Securities and Exchange Commission in second-quarter 2017.
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