Houston-based Oasis Petroleum Inc. announced Sept. 11 that an initial public offering has launched for its new master limited partnership, Oasis Midstream Partners LP.
$20 x 10 million units (rounding) = $200 million.The IPO is offering 7.5 million common units, with an expected price range of $19 to $21 per unit. The company expects to grant underwriters a 30-day option to purchase up to an additional 1.125 million common units.
Oasis' intention to spin off an MLP was reported back in May, 2017.
Recently, an analyst posted six MLPs with dividends of 5.5% or greater, and considered safe.