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Oct. 26, 2021, 8:35 a.m. EDT

Oasis Midstream rises on buyout deal from Crestwood Equity

Oasis Midstream Partners LP shares rose 5% on Tuesday after the pipeline company said it agreed to be acquired by Crestwood Equity Partners LP (NYS:CEQP) in a deal valued at $1.8 billion, including debt. The payment includes $160 million in cash plus 33.8 million shares of newly issued Crestwood common units, with plans to close in the first quarter. Crestwood shares fell about 2%. Houston-based Crestwood said the deal will add to its leading position in the Williston Basin. Crestwood said it expects to realize about $45 million in commercial and cost reduction synergies. It also expects to capture more than $20 million in incremental annual cash flow over the next several years by integrating Crestwood and Oasis Midstream pipelines.

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