Oil & Gas
Reserve-Based Lending (RBL) — Facility Drawdown
Drawing down a reserve-based lending facility to fund development drilling.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash in Bank (RBL Proceeds) | Asset (+) | 200,000,000.00 | - |
| RBL Facility (Borrowings) | Liability (+) | - | 200,000,000.00 |
💡 Accountant's Note
Reserve-based lending is the primary debt financing instrument for E&P companies. The borrowing base is determined by the NPV of proved reserves and is redetermined semi-annually. Unlike corporate loans, RBL repayment is tied to production cash flows.
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