Oasis Petroleum (OAS) Announces 7.5M Share IPO at $19-21/Sh

Oasis Petroleum Inc. (NYSE: OAS) today announced the commencement of the Oasis Midstream Partners LP ("Oasis Midstream") initial public offering of 7,500,000 common units representing limited partner interests, at an anticipated initial public offering price between $19.00 and $21.00 per common unit, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission ("SEC"). Oasis Midstream also expects to grant the underwriters a 30-day option to purchase up to an additional 1,125,000 common units. Oasis Midstream has been authorized to list its common units on the New York Stock Exchange under the symbol "OMP," subject to official notice of issuance.

The common units being offered represent an approximate 27.3% limited partner interest in Oasis Midstream (or approximately 31.4% if the underwriters exercise in full their option to purchase additional common units). Oasis Petroleum and its affiliates will own the remaining approximately 72.7% limited partner interest in Oasis Midstream (or approximately 68.6% if the underwriters exercise in full their option to purchase additional common units). Oasis Petroleum will indirectly own the general partner of Oasis Midstream and the incentive distribution rights.

Morgan Stanley, Citigroup and Wells Fargo Securities are acting as joint book-running managers for the offering.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.

This offering will be made only by means of a written prospectus. A copy of the preliminary prospectus for the offering may be obtained, when available, from:

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