02 Jul 2024
Anti-Hoarding Provisions: What’s Trending?
Anti-hoarding provisions limit a borrower’s ability to stockpile cash under its revolving line of credit to shore up liquidity in the event of an economic downturn in the oil and gas market. While the use of these provisions has declined in recent years, inflation, fears of a recession, international instability, domestic labor shortages, and persistent supply chain challenges make it difficult to predict the trajectory of anti-hoarding provisions in oil and gas credit agreements. Read this practice note discussing recent market trends to learn more.
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See this discussion of the key characteristics of reserve-based loans. Reserve-based loans have been common in the oil and gas industry in recent years, especially among non-investment grade exploration and production companies.
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Read this practice note discussing the financing of upstream oil and gas transactions. Upstream oil and gas companies have a variety of financing sources. This note discusses the customary features of typical debt financings, equity financings, and certain joint venture structures employed by non-investment grade, privately held, upstream oil and gas companies in the United States.
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