Currents - Energy Industry Insights: April 2020 #3

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U.S. Banks Prepare to Seize Energy Assets as Shale Boom Goes Bust -

"Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time in a generation to avoid losses on loans to energy companies that may go bankrupt, sources aware of the plans told Reuters."

Why this is important: Energy companies are getting crushed by the one-two punch of the coronavirus pandemic and oil supply glut. Loans to the industry are estimated to total more than $200 billion, but companies cannot stay current on those debts...

Please see full Newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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