Active Runners Buzz: Oasis Petroleum Inc. (NYSE:OAS), CONSOL Energy Inc. (NYSE:CNX), FirstEnergy Corp. (NYSE:FE)

On Monday, Shares of Oasis Petroleum Inc. (NYSE:OAS), added 1.05% and closed at $11.59 in the last trading session. The last trading range of the stock ranges between $11.16 and $11.67. Oasis Petroleum Inc. (“Oasis” or “the Company”) (OAS) declared recently the exercise by the underwriters of the full over-allotment option of $25.0 million aggregate principal amount of its 2.625% senior unsecured convertible notes due 2023 (the “Notes”). The over-allotment option was granted to the underwriters by the Company in connection with the formerly consummated offering of $275 million aggregate principal amount of the Notes. Settlement of the sale of additional Notes is expected to occur on September 30, 2016, subject to customary closing conditions.  Oasis intends to use the net proceeds from the sale of additional Notes for general corporate purposes, which may include redemptions or repurchases of its existing senior notes.

RBC Capital Markets acted as sole structuring advisor and RBC Capital Markets and Citigroup acted as lead joint book-running managers for the offering, and Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan and Wells Fargo Securities acted as joint book-running managers for the offering. The Notes were offered and sold following an effective shelf registration statement that was formerly filed with the Securities and Exchange Commission. This offering was made only by means of a prospectus dated July 15, 2014 and related prospectus supplement dated September 14, 2016. A copy of the prospectus supplement and accompanying base prospectus regardingthis offering may be obtained from any of the underwriters by contacting:

RBC Capital Markets, LLC

Attention: Prospectus Department

Three World Financial Center, 200 Vesey Street, 8th floor

New York, New York 10281-8098

Telephone: (877) 822-4089

CONSOL Energy Inc. (NYSE:CNX), jumped 1.35% and closed at $19.46 in the last trading session. The last trading range of the stock ranges between $19.06 and $19.53. The company’s Market capitalization is $4.57 Billion with the total Outstanding Shares of 229.44 Million. CNX Coal Resources LP (CNXC) (the “Partnership”) and CONSOL Energy Inc. (CNX) (the “Sponsor”), declared that the Partnership has attained an additional 5% undivided interest in the Pennsylvania Mining Complex (“PAMC”) and associated infrastructure from the Sponsor for $88.8 million. The transaction is effective September 30, 2016. The acquisition raised the Partnership’s undivided interest in the PAMC to 25%.

CNXC funded the transaction with a combination of available borrowings under its credit facility in the amount of $21.5 million and the issuance of convertible preferred units representing limited partner interests (the “Preferred Units”) to the Sponsor valued at $67.3 million. The Preferred Units were issued at a price of $17.01 per unit, a 15% premium to the volume weighted average price of CNXC’s common units over the fifteen trading days ending on September 29, 2016. The Preferred Units will pay quarterly distributions in additional Preferred Units or cash, at the Partnership’s election, equal to an annual rate of 11.00% of the issue price, subject to certain adjustments. The Partnership has the right to cause the conversion of all outstanding Preferred Units into common units, subject to certain conditions, at any time after September 30, 2019. In addition, the Preferred Units will be convertible into common units, generally on a one-for-one basis, subject to certain adjustments, at the holder’s option after September 30, 2017.

“I am very excited about this acquisition as we increase our ownership of the premier coal mining assets in the U.S. These assets are very familiar to our unitholders and this transaction supports our formerly outlined growth strategy,” said Jimmy Brock, chief executive officer of CNX Coal Resources GP LLC, the General Partner of the Partnership. “With coal markets starting to recover, we believe the timing is right for us to consummate this acquisition. The transaction has been structured to allow more balance sheet flexibility for CNXC in addition to create a larger base of cash flow to support ongoing partnership distributions.”

FirstEnergy Corp. (NYSE:FE), LOST -2.36% and closed at $32.30 in the last trading session. The last trading range of the stock ranges between $32.23 and $33.07. During the 52-week trading session the minimum price at which share price traded, registered at $28.89 and reached to max level of $36.60. – FirstEnergy Corp. (FE) recently declared a Request for Proposal (RFP) to purchase both Ohio-compliant Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison.  The purchases will assist meet the Companies’ 2016 renewable energy targets established under Ohio’s alternative energy law.

SRECs and RECs sought in this RFP must be able to be utilized by the Companies for compliance with its 2016 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM-EIS GATS, and generated between January 1, 2014, and December 31, 2016.  The following amounts are being sought:

6,500 SRECs

230,000 RECs

One SREC represents the environmental attributes of one megawatt hour of generation from a solar renewable generating facility qualified by the PUCO.  One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from utility customers through a monthly charge filed quarterly with the PUCO.

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