Oasis Midstream Partners LP (OMP) Update - Jan 28

[dan_s]

OMP is in our High Yield Income Portfolio. Oasis Petroleum (OAS) has emerged from Chapter 11 and they are now in great shape, which is great news for those of you that hold OMP.

From Stifel this morning.
Oasis Petroleum Inc. (OAS, $37.42, Buy; Target $58.00)
Takeaways from Oasis marketing event - Derrick Whitfield < IMO Derrick is one of the best energy sector analysts.

Last week, we hosted Doug Brooks (Chairman and Chief Executive Officer), Taylor Reid (President and Chief Operating Officer), Michael Lou (Chief Financial Officer) and Bob Bakanauskas (Director of IR) for a day of investor meetings. The reception was generally positive as management outlined its near-term priorities of free cash flow generation and instituting a return of capital program, discussed DAPL regulatory risks, highlighted their high-graded inventory, and announced a new compensation program that is aligned with its returns-focused business model. In short, we believe Oasis is in a unique position within our mid-cap universe to allocate free cash flow to shareholder returns in 2021 and close the valuation gap that we highlighted in our recent note: New beginning equals differentiated opportunity: resuming coverage on OAS with a Buy rating.