McDermott Represents Oasis Petroleum in the Sale of its Entire Permian Basin Position
International law firm McDermott Will & Emery represented Oasis Petroleum Inc. (Oasis), an independent exploration and petroleum company, in its series of definitive agreements to sell its entire Permian Basin position. This sale positions Oasis exclusively in the Williston Basin, which will drive significant value creation through its size, scale and robust inventory life as one of the basin’s largest operators.
The total consideration consists of $406 million at closing and up to three $25 million annual contingent payments in 2023, 2024 and 2025.
The primary transaction is expected to close around June 30, 2021, subject to customary closing conditions.
McDermott Will & Emery acted as legal advisor to Oasis.
J.P. Morgan Securities LLC acted as strategic and financial advisor to Oasis.
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