Crestwood announces $1.8b merger with Oasis Midstream Partners
Transactions - NOVEMBER 2, 2021

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Crestwood announces $1.8b merger with Oasis Midstream Partners

by Kali Persall

Crestwood Equity Partners has agreed to acquire Oasis Midstream Partners in a $1.8 billion equity and cash transaction merger agreement

Crestwood will largely finance the acquisition with 33.8 million newly issued common units and cash consideration of $160 million .

Crestwood said the sale will significantly increase its scale and strategic positioning in the Williston Basin, adding significant crude oil, produced water gathering, and natural gas gathering and processing assets in the region. It also doubles the inventory of tier-1 drilling locations dedicated to Crestwood’s assets to 1,200 locations across 535,000 dedicated acres, as well as expands Crestwood’s footprint into the western and northern parts of the basin.

It also expands Crestwood’s foothold in the Delaware Basin, with the acquired assets providing crude oil and produced water gathering services in Loving, Ward and Winkler counties in Texas.

“This transaction enhances our competit

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