Oasis Petroleum Inc. (NYSE: OAS) said Oct. 18 that it priced an upsized public offering of 48 million common shares for total gross proceeds of about $518.4 million.
The net proceeds will fund part of the acquisition of SM Energy Co.’s (NYSE: SM) Bakken assets.
If the acquisition does not occur, the net proceeds will support general corporate purposes including part of the 2017 capital budget.
Underwriters received a 30-day option to purchase 7.2 million additional shares.
The offering is expected to close on Oct. 21.
J.P. Morgan Securities LLC and Goldman Sachs & Co. are joint book-running managers.
Oasis Petroleum Inc. is based in Houston.
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