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Kodiak Oil & Gas to pay down first-lien debt to $50.8 million balance
By Toni Weeks
San Diego, Jan. 10 - Kodiak Oil & Gas Corp. intends to use the proceeds of its upcoming offering of $300 million of senior notes due 2021 to pay down a portion of the outstanding debt under its first-lien credit agreement, according to a press release.
The company will pay down enough debt so that the remaining outstanding balance will be $50.8 million, the release noted.
Kodiak is a Denver-based independent oil and gas exploration and production company.
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