Analysis

Banks Eye Energy Loan Sell-Off Amid Oil Downturn

Law360 (July 27, 2020, 8:59 PM EDT) -- The prolonged oil slump is accelerating the efforts of many commercial banks to sell loans they've made to oil and gas drillers in order to reduce their exposure to the industry, with one bank recently striking a deal to unload its entire book of drilling loans.

Banks are already slashing borrowing bases for reserve-based loans — a staple of oil and gas lending that's based on a producer's total reserves and the price of oil — and are otherwise refusing to lend drillers additional cash. Energy finance experts say offloading the reserve-based loans they currently hold is a way for banks to...

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