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Oil Companies Assess Finances Amid COVID-19 and Pricing War
Olivia Caddy spoke with Global Trade Review about the combined impact of coronavirus and increased petroleum supply on exploration and production companies, many of which used reserve-based lending (RBL) and are now seeking loan documentation that might mitigate or relieve their obligations.
“One of the key assumptions in RBL is the oil price, so you would imagine that not only has COVID-19 been a major issue for E&P companies, the collapse that is happening almost independently from the supply side has also been a big problem as well,” Caddy said.