M&A Deal Summary

Crestwood Acquires Oasis Midstream Partners

On October 26, 2021, Crestwood acquired oil/gas exploration company Oasis Midstream Partners for 1.8B USD

Acquisition Highlights
  • This is Crestwood’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is Crestwood’s largest (disclosed) transaction.
  • This is Crestwood’s 4th transaction in the United States.
  • This is Crestwood’s 3rd transaction in Texas.

M&A Deal Summary
Date 2021-10-26
Target Oasis Midstream Partners
Sector Oil/Gas Exploration
Buyer(s) Crestwood
Deal Type Add-on Acquisition
Deal Value 1.8B USD
Advisor(s) Morgan Stanley
Tudor, Pickering, Holt & Co., LLC
Jefferies (Financial)
Vinson & Elkins
Richards, Layton & Finger PA (Legal)

Target

Oasis Midstream Partners

Houston, Texas, United States
website
Oasis Midstream Partners 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. Oasis Midstream Partners was founded in 2013 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Crestwood

Houston, Texas, United States

website

Category Company
Founded 2001
Sector Energy Services and Equipment
Revenue 6.0B USD (2022)
DESCRIPTION

Crestwood is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. The company is engaged in the gathering, processing, treating, compression, and transportation of natural gas; storage, transportation, terminalling, and marketing of NGLs; gathering, storage, terminalling, and marketing of crude oil; and gathering and disposal of produced water. Crestwood was founded in 2001 and is based in Houston, Texas.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 2 of 2
State (Texas) 3 of 3
Country (United States) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Stagecoach

Owego, New York, United States

Stagecoach consists of 4 natural gas storage facilities with a total FERC-certificated working gas capacity of 41 billion cubic feet and 185 miles of natural gas pipelines.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-25 Crestwood Equity Partners - North Texas Gathering & Processing Assets

Houston, Texas, United States

North Texas Gathering and Processing System assets include 500 miles of lean and rich gas gathering pipeline and three processing plants with 425 million cubic feet per day (MMcf/d) of capacity, which will be available for future relocation.

Sell $275M
Mergr

Product

Company

Legal