April's credit-line reset looms for cash-short US oil drillers

New York

OIL and gas companies have April circled on their calendars.

That's when their lenders will recalculate the value of properties that energy companies staked as loan collateral. With those assets in decline along with oil prices, banks are preparing to cut the amount they're willing to lend, crimping the ability of US drillers to keep production growing.