Oasis Petroleum Inc. and certain of its subsidiaries, which acquire and develop unconventional oil and natural gas resources in North Dakota, Montana and West Texas, in creditor negotiations achieving a pre-packaged Chapter 11 filing and the availability of a $450 million debtor-in-possession credit facility, consisting of a $150 million new money revolving facility and up to a $300 million roll-up of existing prepetition loans, while simultaneously reducing outstanding funded debt by more than $1.8 billion. The package includes a commitment for a reserve-based lending exit facility in an aggregate amount of up to $575 million to be entered into upon exit from Chapter 11.
Centennial Resource Development in its uptier exchange of $250 million unsecured notes for $130 million second lien notes, related amendment to its $700 million reserve-based credit facility and negotiation of related intercreditor arrangements
