HOUSTON, Oct. 26, 2015 /PRNewswire/ — Oasis Petroleum Inc. (NYSE: OAS) (“Oasis” or the “Company”) announced today that it has received the Requisite Consents (as defined below) from holders of its outstanding 7.25% Senior Notes due 2019 (CUSIP No. 67415AC2), 6.5% Senior Notes due 2021 (CUSIP No. 674215AD0) and 6.875% Senior Notes due 2023 (CUSIP No. 674215AE8) (collectively, the “Notes”) to adopt the proposed amendments (the “Amendments”) to the indentures (the “Indentures”) governing the Notes that Oasis had requested pursuant to its previously announced consents solicitations. The Amendments are set forth in full in Oasis’s Amended and Restated Consent Solicitation Statement, datedOctober 21, 2015, which was distributed to all holders of the Notes eligible to consent to the Amendments.

Adoption of the Amendments required the consent of holders of record as of October 5, 2015 of a majority of the outstanding aggregate principal amount of the Notes of each series (the “Requisite Consents”). Currently, $400,000,000 in aggregate principal amount of the Notes of each series is outstanding.

Each consent solicitation expired at 5:00 p.m., New York City time, on Monday, October 26, 2015 (the “Expiration Date”). The Company will pay to each holder of Notes who, prior to the Expiration Date, delivered (and did not revoke) a valid consent in favor of the Amendments a cash payment (the “Consent Fee”) of $10.00 for each $1,000 principal amount of Notes in respect of which such consent was delivered.

Following receipt of the Requisite Consents, Oasis, its subsidiary guarantors and the trustee under each Indenture executed a supplemental indenture incorporating the Amendments to that Indenture. At that time, the Amendments effected by such supplemental indenture became effective and consents could no longer be revoked; however, such Amendments will not become operative until the Consent Fee is paid to the holders who have delivered (and not revoked) valid consents prior to the Expiration Date.

Wells Fargo Securities, LLC acted as the Solicitation Agent in connection with the consent solicitation, and D. F. King & Co., Inc. served as Information Agent and Tabulation Agent.

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