Page 7 of 16 – SEC Filing
The following describes plans or proposals that the Reporting Persons may have with respect to
the matters set forth in
Item 4(a)-(j) of Schedule 13D:
(a) The subordinated units owned of record by OMS Holdings are convertible
into common units on a one-for-one basis upon the termination of the subordination period as set forth in the Partnership Agreement. The Issuer may grant unit options,
unit appreciation rights, restricted units, unit awards, phantom units, distribution equivalent rights, cash awards, performance awards, other unit-based awards and substitute awards to employees and directors of the General Partner and its
affiliates pursuant to the Issuers 2017 Long Term Incentive Plan adopted by the General Partner. The General Partner may acquire common units to issue pursuant to the 2017 Long Term Incentive Plan on the open market, directly from the Issuer,
from other Reporting Persons, or otherwise.
(b) None.
(c) None.
(d) The General
Partner has sole responsibility for conducting the Issuers business and for managing its operations and is ultimately controlled by OAS. Some of the executive officers and directors of OAS, Oasis Petroleum and OMS Holdings also serve as
executive officers or directors of the General Partner. Neither the General Partner nor its board of directors will be elected by the Issuers unitholders. Through its indirect ownership of the General Partner, OAS has the right to elect the
General Partners entire board of directors. The Reporting Persons, however, have no current intention of changing the board of directors or management of the General Partner, other than to potentially appoint one or more additional independent
directors.
(e) The Reporting Persons, as direct and indirect owners of the General Partner of the Issuer, may cause the Issuer to
change its dividend policy or its capitalization, through the issuance of debt or equity securities, from time to time in the future. The Reporting Persons, however, have no current intention of changing the present capitalization or dividend policy
of the issuer.
(f) None.
(g) None.
(h) None.
(i) None.
(j) Except as
described in this Item 4, the Reporting Persons do not have, as of the date of this Schedule 13D, any other plans or proposals that relate to or would result in any of the actions or events specified in clauses (a) through (i) of Item 4 of
Schedule 13D. The Reporting Persons may change their plans or proposals in the future. In determining from time to time whether to sell the common units reported as beneficially owned in this Schedule 13D (and in what amounts) or to retain such
securities, the Reporting Persons will take into consideration such factors as they deem relevant, including the business and prospects of the Issuer, anticipated future developments concerning the Issuer, existing and anticipated market conditions
from time to time, general economic conditions, regulatory matters and other opportunities available to the Reporting Persons. The Reporting Persons reserve the right to acquire additional securities of the Issuer in the open market, in privately
negotiated transactions (which may be with the Issuer or with third parties) or otherwise, to dispose of all or a portion of their holdings of securities of the Issuer or to change their intention with respect to any or all of the matters referred
to in this Item 4.
Item 5. Interest in Securities of the Issuer
The information contained in rows 7, 8, 9, 10, 11 and 13 on the cover page of this Schedule 13D and the information set forth or incorporated
by reference in Items 2, 3, 4 and 6 are hereby incorporated herein by reference.
