S&P might up Oasis Petroleum

Standard & Poor's said it placed its ratings on Oasis Petroleum Inc. on CreditWatch with positive implications, including the B+ corporate credit rating and B senior unsecured rating.

The CreditWatch placement follows Oasis' announcement that it plans to acquire assets in the Bakken and Three Forks areas of the Williston Basin for about $1.5 billion in cash.

S&P said it believes the added reserves and production will enhance Oasis' business risk profile, while the company's leverage will remain adequate at the BB- rating level.

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