Oasis Midstream to repay $208 million of revolver borrowings

By Taylor Fox

New York, March 22 – Oasis Midstream Partners LP plans to repay $208 million of outstanding borrowings under its revolving credit facility, according to a news release.

The repayment will be funded using proceeds from an offering of $450 million senior notes due 2029.

Oasis will also use proceeds to make a distribution in the amount of $229 million to Oasis Petroleum Inc.’s wholly owned subsidiary Oasis Midstream Services LLC in connection with a simplification transaction with Oasis Petroleum.

Oasis Midstream is a Houston-based company that owns, develops and acquires a diversified portfolio of midstream assets.

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