Twice a year, in April and in October, banks review the creditworthiness of oil and gas companies in what is known as a borrowing base redetermination. Ahead of this year’s spring review, both banks and U.S. oil companies are showing improved outlook for the industry, with cautious optimism seeping in through more oil and gas producers, oilfield services companies, lenders, and private equity firms. According to Haynes and Boone’s ‘Borrowing Base Redeterminations Survey’: Spring 2017 , the majority of polled banks and oil and gas companies expect borrowing bases to increase, and nearly all survey respondents see U.S. exploration and production companies raising their capital expenditure budgets this year compared to 2016. Haynes and Boone’s spring 2017 survey shows a brighter picture compared to last year’s spring survey and to the fall 2016 survey. Judging from the results of this spring’s poll, lenders and U.S. companies alike are dispelling […]