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In very recent times, the world at large has seen an increase in awareness regarding Environmental, Social, and Governance (ESG) issues, including the resultant effects of climate change and environmental degradation.

Over the years, exploration and production (“E&P”) companies have relied on a range of traditional financing mechanisms to fund acquisitions and develop projects. Among these mechanisms, Reserve-Based Lending (“RBL”) has emerged as a distinctive and increasingly utilised financing option within the oil and gas industry.