Fitch affirms Extraction Oil

Fitch Ratings said it affirmed the long-term issuer default rating of Extraction Oil & Gas, Inc. at B+.

The outlook remains stable.

Fitch also affirmed Extraction's secured revolver at BB+/RR1 and the unsecured notes at BB/RR2.

“The ratings for Extraction are reflective of the company's sizeable oil-focused position in the DJ Basin, competitive cost structure leading to solid unit economics (netbacks of $23.6 for 2018), a favorable hedging policy that protects the downside risk before money is spent on completion activities and locks in returns, and a credit conscious financial policy,” the agency said in a news release.

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