HOUSTON, Sept. 29, 2016 /PRNewswire/ -- Oasis Petroleum Inc. ("Oasis" or "the Company") (NYSE: OAS ) announced today the exercise by the underwriters of the full over-allotment option of $25.0 million aggregate principal amount of its 2.625% senior unsecured convertible notes due 2023 (the "Notes"). The over-allotment option was granted to the underwriters by the Company in connection with the previously consummated offering of $275 million aggregate principal amount of the Notes. Settlement of the sale of additional Notes is expected to occur on September 30, 2016, subject to customary closing conditions. Oasis intends to use the net proceeds from the sale of additional Notes for general corporate purposes, which may include redemptions or repurchases of its existing senior notes.