Moody's upgrades Oasis, notes

Moody's Investors Service said it upgraded Oasis Petroleum Inc.'s corporate family rating to B1 from B2.

The agency also upgraded the company's existing senior unsecured notes to B2 from B3.

The speculative grade liquidity rating was affirmed at SGL-2 and the outlook is stable.

"Oasis Petroleum will continue to grow production, maintain its heavily oil-weighted production mix in a strong crude price environment, and decrease leverage on a per flowing barrel basis in 2014," Moody's assistant vice president Arvinder Saluja said in a news release. "The rating upgrade recognizes the positive momentum Oasis is expected to maintain."

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