Business

Oasis, Whiting, close to a merger of shares

Oasis Oil Inc.

OAS 8.18%

and Whiting Petroleum Corp.

WLL 5.67%

they are close to an agreement to unite, according to people who know the subject.

The link between all the stocks in North Dakota’s shale drills could be made known earlier this week, with people saying the assumptions are not over. The combined companies would be valued at about $ 6 billion, with a market value of $ 2.8 billion for Oasis and $ 3.3 billion for Whiting.

It would be the first significant link between oil companies in several months, after many of them in recent years, and the Russian invasion of Ukraine has shaken as the energy market shakes and crude oil prices rise.

(More to come)

Write Cara Lombardo at cara.lombardo@wsj.com and Collin Eaton at collin.eaton@wsj.com

Copyright © 2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Oasis, Whiting, close to a merger of shares

Source link Oasis, Whiting, close to a merger of shares

Back to top button