WLL - Oasis Petroleum And Whiting Petroleum Head Towards Their Merger
- Oasis and Whiting are both holding a special meeting of shareholders on June 28 to vote on the deal.
- The merger will create one of the largest Williston Basin operators.
- The combined company is expected to generate over $1.5 billion in positive cash flow in 2022, despite over $1.2 billion in projected hedging losses.
- The combined company should end 2022 with around zero net debt after potentially paying out over $1 billion in dividends and cash payments in 2H 2022 (including merger consideration).
- Whiting's stock appears to be slightly better value than Oasis's currently, although the difference is fairly small.
For further details see:
Oasis Petroleum And Whiting Petroleum Head Towards Their Merger