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S&P upgrades Kodiak Oil
Standard & Poor's said it raised its corporate credit rating on Kodiak Oil & Gas Corp. to B+ from B and its ratings on the company's senior unsecured debt to B from B-
The ratings were removed from CreditWatch with positive implications, where they had been placed on June 5.
The outlook is stable.
S&P said the upgrade reflects Kodiak's improved scale of operations, both production and reserves, following the close of the Liberty acquisition. Kodiak's net acreage in the prolific Bakken shale has increased to 196,000 acres and expected production could reach 32,500 barrels per day in 2013.
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