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Haynes and Boone Borrowing Base Redetermination Survey ?Çô Fall 2016 Results

Since April 2015, Haynes and Boone, LLP has conducted four borrowing base redetermination surveys, including one most recently in September 2016. The objective is to get a better idea of what lenders, borrowers (producers) and others are expecting regarding upcoming borrowing base redeterminations in light of the price uncertainty in the commodity market. The survey shows that respondents on average overall expect 41 percent of oil and gas borrowers to see a decrease in their borrowing base during the fall 2016 borrowing base redetermination season. For companies that will see a borrowing base decrease, survey participants expect borrowing bases to decrease an average of 20 percent. If you break out respondents by category, the Haynes and Boone survey shows that lenders are expecting a 16 percent decrease, while oil and gas companies are anticipating a 29 percent decrease. This difference may be the result of lenders attempting to decrease borrowing… Continue Reading

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