Market Trends 2022/2023: Reserve-Based Loan Credit Agreements in the Oil and Gas Industry

Read this practice note for an overview of reserve-based loans (RBLs) in the oil and gas (O&G) industry. RBLs are a type of asset-based loan commonly used in the upstream O&G industry, especially among non-investment grade companies. This practice note also discusses recent market trends in certain publicly filed deals from 2022 to Q1 2023.

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Related Content

• Asset-Based Lending Resource Kit
  Refer to this resource kit for an overview of asset-based lending. Asset-based loans may be used by a wide variety of businesses, both in terms of size and credit quality, and may be used for a number of different purposes.

• Reserve-Based Loans
  Review this practice note discussing the key characteristics of RBLs. RBLs have been common in the oil and gas industry in recent years, especially among non-investment grade exploration and production companies.

• Financing the Upstream Oil and Gas Transaction
  Read this practice note discussing the financing of upstream O&G transactions. Upstream O&G 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 O&G companies in the United States.

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