Negotiating Reserve-Based Loans for Oil and Gas: Key Provisions of Credit Agreements

Navigating Tighter Terms and Increased Restrictions for Borrowers and Lenders

*** This program has been cancelled ***

A live 90-minute CLE webinar with interactive Q&A

Tuesday, April 18, 2017
1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, March 31, 2017

This CLE webinar will provide energy counsel with guidance on reserve-based lending (RBL). The panel will examine RBL structures, discuss key provisions of RBL loans, and examine the impact of the current economy on RBL. The panel will also review regulatory guidelines and offer best practices for RBL.


The drop in oil prices impacted the market for reserve-based lending. An increase in bankruptcies prompted banks to seek more restrictions on reserve-based loans. Regulators are also closely evaluating whether energy loans are meeting updated lending guidelines.

Lenders look for loan structures that mitigate risk while remaining in regulatory compliance. Both borrowers and lenders must wrestle with numerous issues when negotiating RBL, including gas imbalances, anti-cash hoarding, and additional collateral. Even with some stabilization in oil and gas pricing, oil and gas counsel must operate within an environment of restrictive credit terms and loan agreements.

Listen as our authoritative panel examines RBL structures for both conventional and unconventional reserves. The panel will discuss the key provisions of RBL loans, including reps and warranties, reserve data, gas imbalances, and more. The panel will also examine the impact of the economy on RBL as well as regulatory guidelines, and offer best practices for using RBL.


  1. RBL structures
    1. Unconventional reserves
    2. Conventional reserves
  2. Key provisions
    1. Reps and warranties
    2. Reserve data
    3. Gas imbalances
    4. Anti-cash hoarding
    5. Deposit accounts
    6. Additional collateral
  3. Impact of the economy on RBL
    1. Drop in and then stabilization of oil prices
    2. Trump administration
  4. Regulatory guidelines
  5. Best practices


The panel will review these and other key issues:

  • What are the key provisions that oil and gas companies and lenders should address in reserve-based loans?
  • What impact have the economy and the new administration had on RBL borrowers and lenders?
  • How has updated regulatory guidance changed the playing field for lenders and borrowers?


J. Todd Culwell, Partner
Andrews Kurth Kenyon, Houston

Mr. Culwell’s practice consists of multiple types of energy related transactions relating to oil and gas assets, energy infrastructure assets, and financings. His oil and gas transactional practice experience includes oil and gas acquisitions, participations, divestitures, financing and various forms of equity investments. Mr. Culwell also represents financial institutions and borrowers in a variety of corporate financing activities.

Additional faculty to be announced.

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