Illegal Activity
none
Blackmail
none
Date
January 2015
Document Type
report
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:42
Summary
This document analyzes the HY Corporate Credit market in the Energy sector, focusing on factors affecting reserve-based lending (RBLs) and the ability of E&Ps to raise capital. It highlights the challenges faced by lower-rated E&P companies and the emergence of alternative financing options like bilateral deals with private equity firms.
Metadata
- Subject
- HY Corporate Credit, Energy
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0044558
- Date
- January 2015
Relationships 2
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| Linn Energy (LINE) | business | GSO/ Blackstone (BX) | Linn Energy has a five- year $500 million agreement whereby GSO will earn up to a 15% RoR on wells drilled by LINE in exchange for providing 100% of the upfront drilling costs. |
| EXCO Resources (XCO) | business | KKR & Co (KKR) | EXCO Resources struck a similar agreement with KKR & Co in July 2013 in the Eagle Ford. |
Notable Quotes 2
Given a lack of material losses in the types of products banks are generally reluctant to materially reduce the RBLs of E&P especially during dislocations like the one we are seeing in oil right now.
This highlights the cost of capital problem that lower rated E&P companies now face - these are the real "have nots" in our minds.
Financial Information
Amounts:450.470 bps950-970bps1,880-1,900bps$500 million15%
Transactions:
- Linn Energy has a five- year $500 million agreement whereby GSO will earn up to a 15% RoR on wells drilled by LINE in exchange for providing 100% of the upfront drilling costs.
- EXCO Resources struck a similar agreement with KKR & Co in July 2013 in the Eagle Ford.
Raw Analysis JSON
click to expand
Themes
Financial transactions/money flowBusiness dealings
Organizations 6
S&PLinn Energy (LINE)GSO/ Blackstone (BX)EXCO Resources (XCO)KKR & Co (KKR)Deutsche Bank Securities Inc.
Locations 1
Eagle Ford
Text Analysis
- Tone
- Professional
- Purpose
- To analyze the HY Corporate Credit market, specifically in the Energy sector, and to understand the factors influencing RBLs and the ability of E&Ps to raise capital.
- Significance
- The document provides insights into the dynamics of the HY corporate credit market for energy companies, particularly regarding reserve-based lending (RBLs) and alternative financing options.
File Info
- File Name
- EFTA01357782.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:42:02.748499
- DOJ Source
- View on DOJ