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Common Stock
12 Months Ended
Dec. 31, 2018
Stockholders' Equity Note [Abstract]  
Common Stock
Common Stock
On December 13, 2017, the Company completed a public offering of 32,000,000 shares of its common stock at a purchase price to the public of $9.55 per share. Net proceeds from the offering were $302.6 million, after deducting underwriting discounts and commissions, of which $0.3 million is included in common stock and $302.3 million is included in additional paid-in capital on the Company’s Consolidated Balance Sheets. The Company used the net proceeds to fund a portion of the Permian Basin Acquisition, but was initially used to repay borrowings from the Oasis Credit Facility prior to the close of the Permian Basin Acquisition. Upon closing on February 14, 2018, the Company also issued 46,000,000 shares of its common stock to Forge Energy to fund a portion of the Permian Basin Acquisition (see Note 10Acquisitions).
This public offering was made pursuant to effective shelf registration statements on Forms S-3 filed with the SEC on July 15, 2014 and July 14, 2017, as applicable.
Dividends. The Company has not paid any cash dividends since its inception. Covenants contained in the Revolving Credit Facilities and the indentures governing the Company’s Senior Notes restrict the payment of cash dividends on its common stock. The Company currently intends to retain all future earnings for the development of its business, and the Company does not anticipate declaring or paying any cash dividends to holders of its common stock in the foreseeable future.