Oasis Midstream Partners LP owns, develops, operates and acquires a portfolio of midstream assets in North America. OMP GP LLC serves as the general partner for the company. The company operates as a subsidiary of OMS Holdings LLC (OMS Holdings), a wholly-owned subsidiary of Oasis Petroleum Inc (Oasis Petroleum).
The company offers full service midstream solutions to its customers covering their oil, gas and water needs. Its full scale of operations includes natural gas services (gathering, com...
Oasis Midstream Partners LP owns, develops, operates and acquires a portfolio of midstream assets in North America. OMP GP LLC serves as the general partner for the company. The company operates as a subsidiary of OMS Holdings LLC (OMS Holdings), a wholly-owned subsidiary of Oasis Petroleum Inc (Oasis Petroleum).
The company offers full service midstream solutions to its customers covering their oil, gas and water needs. Its full scale of operations includes natural gas services (gathering, compression, processing and gas lift supply), crude oil services (gathering, terminaling and transportation) and water services (gathering and disposal of produced and flowback water and freshwater distribution). The company’s assets are located in the heart of the oil-rich Williston and Permian Basins and are integral to the crude oil and natural gas operations of Oasis Petroleum. Its assets are also strategically positioned to capture volumes from other producers.
The company has significant acreage dedications from Oasis Petroleum and commitments from third party producers in both the Williston and Permian Basins. In the Williston Basin, the company divides its operations into two primary areas with developed midstream infrastructure. In Wild Basin, it provides natural gas services (gathering, compression, processing and gas lift supply), crude oil services (gathering, terminaling and transportation), and water services (gathering and disposal of produced and flowback water and freshwater distribution) to the company’s customers. Outside of Wild Basin, it provides water services (gathering and disposal of produced and flowback water and freshwater distribution) to its customers. In the Permian Basin, the company operates strategically located infrastructure, where it provides crude oil services (gathering) and water services (gathering and disposal of produced and flowback water) to the company’s customers, with connection points to key market hubs.
Assets
The company operates its midstream infrastructure business through its development companies (DevCos), two of which are jointly-owned with Oasis Petroleum.
Bighorn DevCo LLC (Bighorn DevCo): As of December 31, 2020, the company owned a 100% interest in Bighorn DevCo, which has midstream assets to support development in the Wild Basin area, including two natural gas processing plants with total processing capacity of 280 million standard cubic feet per day (MMscfpd) with propane recovery refrigeration units; an approximately 20-mile, 10-inch, Federal Energy Regulatory Commission (FERC) regulated, mainline crude oil pipeline to the sales destination, Johnson’s Corner, with approximately 75,000 barrels of crude oil per day (Bopd) of operating capacity; and a crude oil blending, stabilization and storage facility with 240,000 barrels of storage capacity.
Bobcat DevCo LLC (Bobcat DevCo): As of December 31, 2020, the company owned a 35.3% interest in Bobcat DevCo, which has a midstream gathering system in the Wild Basin area, including approximately 40 miles of six- and eight-inch crude oil gathering pipelines with initial capacity of approximately 50,000 Bopd, which can be expanded to approximately 70,000 Bopd; approximately 100 miles of ten-inch through 24-inch natural gas gathering pipelines with gathering capacity of up to approximately 250 MMscfpd; 58,000 horsepower field compression; a natural gas lift system providing artificial lift throughout the field; and a produced and flowback water gathering and disposal system, consisting of six current disposal wells and approximately 60 miles of six- and eight-inch pipeline with capacity of approximately 70,000 Bowpd.
Beartooth DevCo LLC (Beartooth DevCo): As of December 31, 2020, the company owned a 70% interest in Beartooth DevCo, which has a produced and flowback water gathering and freshwater distribution system in the Alger, Cottonwood, Hebron, Indian Hills, Red Bank and Wild Basin operating areas, including nine strategically located produced and flowback water gathering pipeline systems spanning approximately 300 miles that connect approximately 1,000 crude oil and natural gas producing wells to its disposal well sites; 22 strategically located disposal wells that dispose of produced and flowback water from its produced and flowback water gathering pipeline systems or from third-party trucks; approximately 300 miles of freshwater pipeline that connect to approximately 560 crude oil and natural gas producing wells that are dispersed throughout the company’s areas of operation, allowing for expansion to new wells in these areas for completion with minimal expansion capital expenditures; a freshwater distribution system, which includes four freshwater ponds, in McKenzie County, North Dakota, spanning approximately 90 miles; and a centralized freshwater intake facility from the Missouri River in McKenzie County, North Dakota.
Panther DevCo LLC (Panther DevCo): As of December 31, 2020, the company owned a 100% interest in Panther DevCo, which owns crude oil gathering and produced and flowback water gathering and disposal assets in the Delaware Basin, including approximately 40 miles of four-inch through 10-inch crude oil gathering pipelines with an initial gathering capacity of approximately 65,000 Bopd, which is expected to increase to approximately 110,000 Bopd once fully constructed; and a produced and flowback water gathering and disposal system consisting of three disposal wells and approximately 50 miles of four-inch through 12-inch pipeline with capacity of approximately 60,000 barrels of water per day (Bowpd).
Oasis Petroleum has acreage dedications to third parties for crude oil and natural gas services in the Williston Basin and the Delaware Basin.
Strategy
The primary components of the company’s business strategy are to focus on providing services under long-term, fixed-fee contracts to mitigate direct commodity price exposure; leverage its relationship with Oasis Petroleum; attract third-party customers; and complete accretive acquisitions from third parties.
Regulation
Certain of the company’s pipelines are subject to regulation by the federal Pipeline and Hazardous Materials Safety Administration (PHMSA) under the Hazardous Liquid Pipeline Safety Act (HLPSA) with respect to oil and the Natural Gas Pipeline Safety Act (NGPSA) with respect to natural gas.
The company handles materials that might be regulated as hazardous substances within the meaning of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) or similar state statutes.
The company also generates and accepts for disposal from its exploration and production (E&P) customers wastes that are subject to the requirements of the Resource Conservation and Recovery Act (RCRA) and comparable state statutes.
The company’s produced and flowback water underground injection operations are subject to the federal Safe Drinking Water Act (SDWA), as well as analogous state laws and regulations.
The Federal Water Pollution Control Act (Clean Water Act) and analogous state laws impose restrictions and controls regarding the discharge of pollutants into state waters, as well as waters of the United States and impose requirements affecting the company’s ability to conduct activities in waters and wetlands.
The company is subject to the requirements of the Occupational Safety and Health Act (OSHA) and comparable state laws that regulate the protection of employee health and safety. In addition, OSHA’s implementation of the hazard communications standard, the U.S. Environmental Protection Agency’s (EPA’s) implementation of community right-to-know regulations under Title III of the federal Superfund Amendment and Reauthorization Act, and comparable state statutes require that information about hazardous materials used or produced in the company’s operations be maintained and provided to employees, state and local government authorities and citizens.
History
Oasis Midstream Partners LP was founded in 2013.
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.
