Shares of Oasis Midstream Partners LP (OMP) are down more than 14% Friday morning.
The company on Thursday announced an underwritten public offering of 3,623,188 common units.
The company intends to use the proceeds from the offering to redeem from Oasis Petroleum Inc. (OAS) a number of common units equal to the number of common units sold by the Partnership in the offering.
OMP, currently at $23.94, has traded in the range of $5.50- $35.70 in the last one year.
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