HOUSTON, Dec. 23, 2020 /PRNewswire/ -- Oasis
Midstream Partners LP (NYSE: OMP) (the "Partnership" or "OMP")
today announced that Thomas Nusz,
Oasis Petroleum Inc.'s ("Oasis") Chief Executive Officer, retired
from his position as Chief Executive Officer of Oasis and its Board
of Directors effective December 22, 2020. He will
remain employed by Oasis through December
30, 2020. At the same time, Mr. Nusz also retired from his
position as the Chairman of the board of directors of the general
partner of OMP. Douglas E. Brooks, Oasis' Board Chair, has
been elected to serve on the board of directors of the general
partner of OMP, and he is expected to be elected by the board of
directors of the general partner (the "GP Board") to serve as
Chairman of the GP Board. Mr. Brooks has been appointed to
the additional role of Chief Executive Officer ("CEO") of Oasis
effective December 22nd. The Oasis Board of Directors
will conduct a search for a new CEO, which it expects will be
complete over the next few months.
Douglas E. Brooks commented, "We
want to thank Tommy for his tireless efforts and leadership since
our IPO in 2017. He founded and guided Oasis through numerous
commodity cycles and uniquely positioned OMP for differential
performance over the past several years. The midstream team
continues to be focused on capturing third party business while
taking a prudent approach to capital spending given the current
market environment."
Mr. Brooks has over 35 years of experience in the oil and
gas industry. He has had successful CEO roles at Energy XXI
Gulf Coast, Inc., Yates Petroleum Corporation and Aurora Oil &
Gas Limited, in addition to his 24-year tenure at Marathon Oil
Company. Mr. Brooks has also built two private
equity-sponsored firms focused on unconventional resource projects
in the western U.S. He is currently a board member of
California Resources Corporation and has served as a board member
for Chaparral Energy, Inc., Energy XXI Gulf Coast, Inc., Aurora Oil
& Gas Limited, Magdalena Energy Company, Yates Petroleum and
the Houston Producers' Forum.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the Partnership
expects, believes or anticipates will or may occur in the future
are forward-looking statements. Without limiting the generality of
the foregoing, forward-looking statements may include the
expectations of plans, strategies, objectives and anticipated
financial and operating results of the Partnership, including the
Partnership's capital expenditure levels and other guidance
included in this press release. These statements are based on
certain assumptions made by the Partnership based on management's
experience and perception of historical trends, current conditions,
anticipated future developments and other factors believed to be
appropriate. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Partnership, which may cause actual results to
differ materially from those implied or expressed by the
forward-looking statements. These include, but are not limited to,
the Partnership's ability to integrate acquisitions into its
existing business, changes in oil and natural gas prices, weather
and environmental conditions, the timing of planned capital
expenditures, availability of acquisitions, uncertainties in the
estimates of proved reserves and forecasted production results of
the Partnership's customers, operational factors affecting the
commencement or maintenance of producing wells, the condition of
the capital markets generally, as well as the Partnership's ability
to access them, the proximity to and capacity of transportation
facilities, and uncertainties regarding environmental regulations
or litigation and other legal or regulatory developments affecting
the Partnership's business and other important factors. Should one
or more of these risks or uncertainties occur, or should underlying
assumptions prove incorrect, the Partnership's actual results and
plans could differ materially from those expressed in any
forward-looking statements.
Any forward-looking statement speaks only as of the date on
which such statement is made and the Partnership undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
About Oasis Midstream Partners LP
Oasis Midstream is a
growth-oriented, fee-based master limited partnership initially
formed by Oasis Petroleum (NYSE: OAS) to own, develop, operate and
acquire a diversified portfolio of midstream assets in North
America that are integral to the oil and natural gas
operations of Oasis Petroleum and strategically positioned to
capture volumes from other producers. Oasis Midstream's initial
assets are located in the Williston Basin area
of North Dakota and Montana. For more information,
please visit Oasis Midstream's website
at www.oasismidstream.com.
Contact:
Oasis Midstream Partners LP
Bob Bakanauskas, (281) 404-9638
Director, Investor Relations
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SOURCE Oasis Midstream Partners LP
