OAG360 Publishers Note: Interest payment of 30mm was skipped, and now enters a 30 day forbearance period which ends Oct 15. As of Q2 2020 filings, OAS had around 77 million in cash on hand

Bloomberg Law

Oasis Petroleum Inc. skipped payments due Sept. 15 on some of its debt, becoming the latest oil and gas producer to flirt with bankruptcy amid a prolonged price slump.

The company owed interest on $244.8 million of convertible notes and $834.5 million of unsecured notes maturing in 2022, according to Bloomberg data. Oasis Petroleum has 30 days to make good on the missed payments before a formal default.

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