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

Oasis Midstream rises on buyout deal from Crestwood Equity

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By Steve Gelsi

Oasis Midstream Partners LP /zigman2/quotes/209896981/composite OMP +2.02% shares rose 5% on Tuesday after the pipeline company said it agreed to be acquired by Crestwood Equity Partners LP /zigman2/quotes/203439273/composite CEQP +1.32% 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.

/zigman2/quotes/209896981/composite
US : U.S.: Nasdaq
$ 22.19
+0.44 +2.02%
Volume: 84,929
Dec. 3, 2021 1:49p
P/E Ratio
4.12
Dividend Yield
10.10%
Market Cap
$1.36 billion
Rev. per Employee
$3.25M
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/zigman2/quotes/203439273/composite
US : U.S.: NYSE
$ 26.08
+0.34 +1.32%
Volume: 261,186
Dec. 3, 2021 1:50p
P/E Ratio
N/A
Dividend Yield
9.65%
Market Cap
$1.62 billion
Rev. per Employee
$2.79M
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