CSIS: Independents affected most by global recession

06/15/2009
Independent oil and gas producers that rely heavily on cashflow face bigger financing challenges than major or national oil companies as the global recession depresses oil and gas demand and prices drop, experts said on June 3.The possible consequences range from a new wave of acquisitions to slower development of natural gas from domestic shale formations, they said at a seminar at the Center for Strategic and International Studies (CSIS).“All of the banks have credit issues and are looking for less risk,” said Adam, Sieminski chief energy economist at Deutsche Bank. “They’re looking at who they lend to and the prospects of getting repaid. With the economy in trou...
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