Borrowing Base Redeterminations Survey - Fall 2017

Question Title

* 1. Question 1: Which of these best describes you?

O&G lender

O&G producer - borrower

Professional services provider

Oilfield services

Other

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* 2. Question 2: What percentage of E&P borrowers do you anticipate will see a decrease in their borrowing base redeterminations in fall 2017?

0 percent

10 percent

20 percent

30 percent

40 percent

50 percent

60 percent

70 percent

80 percent

90 percent

100 percent

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* 3. Question 3: What percentage do you expect borrowing bases to change in fall 2017 as compared to spring 2017?

30 percent or greater decrease

20 percent decrease

10 percent decrease

No change

10 percent increase

20 percent increase

30 percent or greater increase

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* 4. Question 4: Which one or two of the following options do you think will be the most likely path that lenders and borrowers will take if faced with a borrowing base deficiency in fall 2017? (Select up to 2)

Sell non-core assets

Seek capital from hedge funds or private equity funds

Sell the company

Restructure or declare bankruptcy

Negotiate an amendment/extension with the lender

Other

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* 5. Question 5: What percentage of new reserve-based credit facilities entered into in 2017 (by number, not dollar amount) in your estimation have been with E&P borrowers sponsored by private equity?

0 percent

10 percent

20 percent

30 percent

40 percent

50 percent

60 percent

70 percent

80 percent

90 percent

100 percent