Oil and gas capital confidence barometer
Access to capital
The oil and gas respondents believe that credit conditions generally continue to improve, and compared to six months ago, the percentage of oil and gas companies seeing credit conditions loosening has increased substantially. Oil and gas respondents also expressed more optimism than the broader global group of respondents.
What is your level of confidence in credit availability at the global level?
Debt decreases as a source of deal financing
With large-scale changes to their capital structures now completed, oil and gas companies are focused on refinements — reducing interest costs, extending debt maturities and removing restrictive covenants. Declining in importance for refinancing have been the optimization of the corporate structure and retiring of maturing debt.
Does your company expect to refinance loans or other debt obligations in the next 12 months?
52% of oil and gas respondents view cash as the primary source of deal financing in the next 12 months
Debt has been declining steadily as the primary source of deal financing in the oil and gas sector, with debt seen as the primary source by 26% of oil and gas respondents in April 2013 survey, down from 38% in October 2012 and 49% in April 2012. In contrast, cash has become increasingly more important for our oil and gas respondents.
What is your likely primary source of deal financing in the next 12 months?