Trending Stocks Buzz: Oasis Petroleum Inc. (NYSE:OAS), Energy Transfer Equity LP (NYSE:ETE)

On Tuesday, Shares of Oasis Petroleum Inc. (NYSE:OAS), subtract -2.61% and shut at $13.05 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $12.51 and $13.50. Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its principal projects are located in West Williston and East Nesson. As of December 31, 2015, the company had 484,745 net leasehold acres in the Williston Basin; and about 218.2 million barrels of oil equivalent of estimated net proved reserves.

Shares of Energy Transfer Equity LP (NYSE:ETE), subtract -0.89% and shut at $17.76 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $17.04 and $18.72. The association’s commercial center capitalization is $19.27 Billion with the general uncommon loads of 1.05 billion. Sunoco Logistics Partners L.P. (SXL) and Energy Transfer Partners, L.P. (ETP) recently declared that they have reached a merger agreement providing for the acquisition of ETP by SXL in a unit-for-unit transaction. The transaction was approved by the boards of directors and conflicts committees of both partnerships and is expected to close in the first quarter of 2017, subject to receipt of ETP unitholder approval and other customary closing conditions.

Under the terms of the transaction, ETP unitholders will receive 1.5 common units of SXL for each common unit of ETP they own. This equates to a 10% premium to the volume weighted average pricing of ETP’s common units for the last 30 trading days right away before the declarement of the transaction.

Leave a Reply

Your email address will not be published. Required fields are marked *