November 2, 2021

Crestwood acquires Oasis Midstream in $1.8 billion deal

By Neal A. Shipman
Farmer Editor

Two of the larger midstream companies operating in the Bakken will become one after Crestwood Equity Partners announced its acquisition of Oasis Midstream for a value of $1.8 billion in a mixed cash and equity transaction that will include $660 million of Oasis Midstream’s outstanding debts as of September 2021.
The merger is expected to close in the first quarter of 2022, subject to customary closing conditions and regulations. Upon closing, Oasis Midstream’s former unit holders will own about 35 percent of Crestwood’s outstanding common units, of which about 22 percent will be owned by Oasis Petroleum.

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