One-Page Deal Sheet
Oasis Petroleum Sells Permian Asset to PE-Backed E&P for $450 Million
Percussion Petroleum II, LLC Oasis Petroleum Inc.
Announced Date
May 20,2021
Effective Date
March 01,2021
Close Date
June 29,2021
Transaction Type
Property
Enterprise Value (EV)($MM)
481
Asset/Basin:
["Permian Basin"]
TargetZones:
[]
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Permian,Permian - Delaware Basin
Country
United States
State
Texas
County
Ward ,Loving ,Winkler
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Oasis Petroleum Inc. has entered into a series of definitive agreements to sell its entire Permian Basin position for total gross potential consideration of $481MM.
Shale Experts was able to ascertain that the buyer is PE-backed Percussion Petroleum III, which is run by John Campbell. More about Percussion here..
Oasis acquired the assets back in December 2017 from then Forge, who was backed by Encap and Pinebrook for $946 million.
The total consideration consists of $406MM at closing and up to three $25MM annual contingent payments in 2023, 2024 and 2025 if WTI averages over $60 per…
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