UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 6, 2011
OASIS PETROLEUM INC.
(Exact name of registrant as specified in its charter)
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| Delaware
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001-34776
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80-0554627 |
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(Commission File Number)
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(I.R.S. Employer |
| incorporation or organization)
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Identification No.) |
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| 1001 Fannin Street, Suite 1500
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77002 |
| Houston, Texas
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(Zip Code) |
| (Address of principal executive offices) |
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Registrant’s telephone number, including area code: (281) 404-9500
Not Applicable.
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement.
Oasis Petroleum North America LLC, a wholly owned subsidiary of Oasis Petroleum Inc. (the
“Company”) has entered into a Fifth Amendment to its Amended and Restated Credit Agreement (the
“Fifth Amendment”), dated as of October 6, 2011, among Oasis Petroleum North America LLC, as
borrower, Oasis Petroleum LLC, Oasis Petroleum Marketing LLC and Oasis Well Services LLC, as wholly
owned subsidiaries of the Company, and the Company, as guarantors, the lenders party thereto and
BNP Paribas, as administrative agent (the “Amended and Restated Credit Agreement”).
The Fifth Amendment increases the borrowing base of the Amended and Restated Credit Agreement from
$137.5 million to $350 million. In addition, the Fifth Amendment reduces the interest rates
payable on borrowings under the Amended and Restated Credit Agreement and extends the maturity date
of the Amended and Restated Credit Agreement from February 26, 2015 to October 6, 2016. As a result
of the Fifth Amendment, the size of the Company’s revolving credit facility increased from $600
million to $1 billion.
The foregoing description of the Fifth Amendment is a summary only and is qualified in its entirety
by reference to the complete text of the Fifth Amendment, a copy of which is attached as Exhibit
10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
The information set forth under Item 1.01 concerning the Fifth Amendment is incorporated herein by
reference.
Item 7.01 Regulation FD Disclosure.
On October 6, 2011, the Company issued a press release announcing the Fifth Amendment. The press
release is furnished herewith as Exhibit 99.1.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed
to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and will not be
incorporated by reference into any filing under the Securities Act of 1933 unless specifically
identified therein as being incorporated therein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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| Exhibit No. |
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Description of Exhibit |
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10.1
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Fifth Amendment to Amended and Restated Credit Agreement,
dated as of October 6, 2011, among Oasis Petroleum North
America LLC, as borrower, Oasis Petroleum LLC, Oasis Petroleum
Marketing LLC, Oasis Well Services LLC and Oasis Petroleum
Inc., as guarantors, BNP Paribas, as administrative agent, and
the lenders party thereto. |
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99.1
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Press Release dated October 6, 2011. |