July 21, 2020
Houston banks sell off energy loans, cut credit lines to oil and gas companies
Lee Maginniss, National Leader of Corporate Performance Improvement's Energy practice, tells Houston Chronicle banks helped energy companies during oil bust in 2014-16 to restructure their debt and continued to invest in the industry. However, banks’ enthusiasm for the industry has simmered.
“Capital markets have soured on U.S. oil and gas investments starting in late 2018,” said Lee Maginniss, managing director of Alvarez & Marsal’s corporate improvement energy practice. “The distress that we’re in right now has made access to capital restrictive and limited. Recapitalization is very difficult.”
Featured Experts
