Oasis Petroleum eyes drawing down on revolver to acquire acreage

By Wendy Van Sickle

Columbus, Ohio, Dec.11 – Oasis Petroleum Inc. is eyeing a drawdown on its revolving credit facility to help fund its acquisition of 20,300 net acres in the Delaware Basin from Forge Energy, LLC for about $946 million, according to a press release.

The acquisition price will be paid with $483 million in cash and 46 million shares of Oasis’ common stock. The company said it may also fund the cash portion of the price tag by capital markets transactions, depending on market conditions.

Oasis is a Houston-based oil and natural gas company.

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