Monday, March 7, 2022

The New Oasis -- Oasis - Whiting -- A New Chapter -- Lots Of Updates On The Blog Will Be Required -- March 7, 2022

Now tracked here

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Original Post

CNBC:

  • Oasis: up $10.97; up 7.59%; trading at $155.
  • Whiting: up $5.90; up 7.07%; trading at $89.33

Reuters:

Upon completion of the deal, which is expected in the second half of 2022, Whiting shareholders will own about 53% and Oasis shareholders will own about 47% of the combined company on a fully diluted basis.

Oasis shareholders will also receive a special dividend of $15 per share once the deal is closed.

Whiting Chief Executive Offer Lynn Peterson will serve as Executive Chair of the Board of the combined company while Oasis CEO Danny Brown will become the top boss.

Name of new company? Oasis?

With this new chapter, it reminds me that the worst story ever to come out of the Bakken is / was MDU with regard to what this company "gave away." 

A rough cut: something really, really stands out. Link here.

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