June 24, 2010 (FinancialWire) — Oasis Petroleum Inc. (NYSE: OAS) said that it has completed its initial public offering of 48.3 million shares of its common stock at $14 per share. Morgan Stanley (NYSE: MS) and UBS Investment Bank (NYSE: UBS) acted as joint book-running managers. Oasis saw net proceeds of around $395.7 million.

Oasis sold 30.37 million shares of common stock in this offering, and OAS Holding Co. LLC, the selling stockholder, sold 17.93 million shares of common stock, including 6.3 million shares sold by the selling stockholder pursuant to the full exercise of the underwriters' over-allotment option.

The company plans to use the funds to repay all outstanding indebtedness under its revolving credit facility and to fund its exploration and development program.

Oasis did not receive any proceeds from the sale of shares by the selling stockholder.

Texas-based Oasis is an independent exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources.

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