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.


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Terry Mulreany
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