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Oasis Petroleum to repay credit facility borrowings via common stock
By Tali Rackner
Norfolk, Va., March 4 – Oasis Petroleum Inc. plans to pay down outstanding borrowings under its credit facility with the proceeds from a public offering of common stock, according to a press release.
Proceeds will also be used for general corporate purposes.
The company announced the opening of the offering of 25 million shares. It expects to grant underwriters a 30-day option to purchase up to 3.75 million additional shares.
Oasis is a Houston-based oil and natural gas company.
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