Bloomberg: Lenders Losing Patience With Drillers

According to a report from Bloomberg, bank regulators’ warnings about the risk involved with lending to U.S. drillers has patience from Wall Street lenders waning.

So far, banks such as Wells Fargo and JPMorgan have been willing to keep funding drillers that come close to exceeding their credit lines, as the borrowers have been able to pay by utilizing public markets, Bloomberg said.

Bloomberg also reported that Wells Fargo had a $416 million increase in past-due loans in Q2/15, primarily from the energy sector, while JPMorgan has put $140 million aside to make up for potential losses from oil and gas loans.

Read the full Bloomberg report here.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.