Updates
January 4, 2021: unless I missed it, the link below to the Oasis press release did not address the issue of warrants. Here is the rest of the story, brought to my attention by a reader, at this link:
- Equity allocated to unsecured note holders: Approximately 20 million shares of common stock outstanding
- Shares authorized at emergence: 60 million shares
- Shares reserved for Long Term Incentive Plan, which constitutes the Management Incentive Plan: approximately 2.4 million shares
- Warrants to current Oasis Petroleum shareholders: Approximately 1.6
million warrants exercisable for one share of common stock at an initial
exercise price of $94.57, expiring on November 19, 2024. [As noted below in the original post: "a lot of thoughts but not worth posting."]
Original Note
Link here. No surprise. Highlights:
- Reducing annual interest expense by $112.5 million through the elimination of $1.8 billion of senior unsecured notes.
- Oasis has aggressively hedged during the Company's restructuring process and currently has 29 mbopd swapped at $42.09 in 2021, 19 mbopd swapped at $42.74 in 2022, and 14 mbopd swapped at $43.68 in 2023.
Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
A lot of thoughts but not worth posting.
*****************************************
Creeque Alley
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.