Are Your Clients Hoarders?!

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, the COVID-19 pandemic and the ensuing slowdown in the oil and gas markets caused lenders to seek the inclusion of anti-hoarding provisions once again in 2020. Read this practice note that provides an overview of the purpose and key characteristics of anti-hoarding provisions and discusses recent market trends in certain publicly filed deals from 2021.

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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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