Banks have started to cut their exposure to the U.S. shale patch, seeing more than 100 producers and oilfield services firms go bust last year and feeling the environmental, social, and governance (ESG) pressure to reduce credits to fossil fuels. While traditional lenders are cutting their losses and de-risking energy loan portfolios, alternative capital providers are stepping up to scoop up U.S. energy debt at a discount and take part in debt or equity transactions that could give them returns sooner than a loan would for a bank. Since the oil price crash in 2020 and the downturn in the U.S. shale industry, banks have been wary of their exposure to the sector. The commodity price slump last year dramatically cut the value of the assets of oil and gas firms, against which they have traditionally obtained loans from banks. Running for the Exit Lenders slashed the amounts of […]