A growing number of banks are restricting access to funding to the U.S. shale industry in the wake of the oil price crash, although the aversion to lending more capital to losing U.S. shale operations was already evident before the pandemic and the Saudi-Russian oil price war. Lenders already cut their borrowing bases for the smaller U.S. shale producers in the spring, and more cuts to the amounts of loans drillers can take against their oil and gas reserves are coming in the fall in the second borrowing base redetermination for the year, analysts tell Bloomberg . In the spring, just after the oil price collapse, a survey by law firm Haynes and Boone among oil and gas producers, oilfield services companies, financial institutions, and private equity firms showed that a sizable majority of respondents expected borrowing bases to decrease by at least 20 percent in response to the […]