Oil Price Stability Won't Eliminate Lenders' Caution

Law360, New York (September 16, 2016, 6:51 PM EDT) -- With oil prices low but relatively stable, banks aren't likely to make deep cuts in the amount of credit available to energy companies this fall, but hard lessons learned from the wave of energy bankruptcies mean drillers should expect more strings attached to the cash they can borrow, experts say.

The collapse in oil prices has led lenders to scale back the borrowing bases for so-called reserve-based loans, a staple of energy industry lending especially in the upstream sector, that are based on a company's total reserves and the price of oil and are usually revised twice a year. The reductions...

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