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, a common type of financing for U.S. E&Ps.

Based on the latest survey, “producers should expect the fall 2021 redetermination season to result in materially improved reserve-based lending credit availability,” said Haynes Boone partner Kraig Grahmann, who leads the energy finance practice group.

Most of the 84 respondents in the latest survey said they expect borrowing bases to grow by 10-20% in the upcoming redetermination...