US E&Ps Come Up Against Capital Constraints

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  • The number of banking and private equity players willing to do business with US E&Ps has shrunk by about a third since 2020, making raising capital a real challenge.
  • Banks are demanding ancillary business from borrowers and private equity firms want a viable exit from oil and gas before deals can be consummated.
  • E&Ps are in a strong position to go without external funding, and may find their options increase with improving credit ratings.

The Issue

Equity and Debt Markets, Capital Spending, Independent E&Ps
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