Banks that lend to U.S. energy companies are forecasting a “slight” increase in natural gas prices from 2024 into 2025, but mild weather and healthy storage levels have left the bears in charge in the near term, according to a survey by Haynes and Boone LLP. Lenders from the 25 banks that responded to the…
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Articles from Haynes And Boone
U.S. E&Ps ‘Showing New Interest’ to Expand but Lending Market Said Tight
A more favorable commodities market for oil and gas prices often has led to more U.S. drilling activity, but producers into 2024 may face volatility and less-than-enthusiastic lenders, according to a new survey by Haynes and Boone LLP. The law firm’s semi-annual Borrowing Base Redeterminations Survey found that exploration and production (E&P) companies may not…
Energy Bank Execs Forecast Ongoing Strength in Global Natural Gas, Oil Prices
U.S. energy bankers expect to see “sustained increases” in global natural gas and oil prices – at a higher level than predicted earlier this year. According to the Fall 2022 Energy Price Deck Survey of 23 energy bank executives that was conducted in October by Haynes and Boone LLC, the forecasts showed significantly increased near-term…
U.S. Oil, Natural Gas Producers Seen Having More Access to Capital This Fall
Exploration and production (E&P) companies that work in the United States are expected to have more reserve-based lending (RBL) capital available to them this fall versus last spring, according to the latest biannual survey conducted by Haynes and Boone LLP. The law firm conducts surveys ahead of each fall and spring redetermination season for RBL,…
North American E&P Bankruptcies Slow in December, but Industry Looking to Better Days
The number of North American oil and natural gas producers filing for bankruptcy protection continued to slow in December, but 2020 remains a standout in the six years that Haynes and Boone LLP has been tracking bankruptcy data. The law firm’s latest Oil Patch Bankruptcy Monitor showed that since the oil and gas industry began…
Producer Bankruptcies in North America Show Slowing Trend in November
Bankruptcies filed by producers in the North American oil and gas space slowed to two in November, according to the latest monthly Oil Patch Bankruptcy Monitor report published by Haynes and Boone LLP. The trend shows a gradual reduction in bankruptcies this autumn compared to earlier in the year; there were three producer bankruptcies in…
North American E&P, OFS Bankruptcies Slow in October, but More Expected
Bankruptcies in the North American oil and gas industry slowed to a total of three in October, but more filings are likely before year’s end, according to the latest monthly Oil Patch Bankruptcy Monitor report published Tuesday by Haynes and Boone LLP. “While the pace of bankruptcy filings for producers has slowed from the wave…
U.S. E&P Borrowing Base Seen Shrinking Amid Commodity Price Uncertainty
Available reserve-based lending (RBL) capital for exploration and production (E&P) companies is likely to shrink by 10-20% in the fall redetermination season, according to the latest biannual survey conducted by Haynes and Boone LLP. The law firm conducts surveys ahead of the spring and fall redetermination seasons for RBL, a common type of financing for…
Even at Higher Oil Prices, More North American E&Ps Predicted to Seek Bankruptcy Protection
Nineteen North American exploration and production (E&P) operators have filed for bankruptcy protection since the start of the year, and it is “reasonable to expect” more companies will seek protection from creditors in the months to come, according to Haynes and Boone LLP.
North American E&Ps Facing Debt Challenges Again as Natural Gas, Oil Prices Languish
Natural gas prices continue to languish and oil prices have failed to strengthen despite recent geopolitical events, indicating more North American energy operators may face restructuring or bankruptcy through the first half of 2020, according to Haynes and Boone LLP.