Executives expressed a more optimistic outlook on capital availability and commodity pricing for the oil and gas sector in the latest editions of two surveys conducted by Haynes and Boone LLP.

Henry Hub prices

Most respondents to the law firm’s spring 2021 Borrowing Base Redeterminations Survey forecast that borrowing bases will rise by 0-10% this spring versus fall 2020.

By comparison, in the fall survey, most predicted a decline of 10-20%.

“Following two difficult borrowing base redetermination seasons in 2020, producers should see very modest improvements in their access to credit,” said Kraig Grahmann, head of Haynes and Boone’s energy finance practice group.

The survey reflects polling conducted through early April of executives at oil and gas producers, oilfield services...