Wells Fargo & others have been significant lenders in the Oil and Gas space. I was watching CBNC last week and there was a segment on the US oil industry (I'll post the youtube video if I can dig it up). Cut a long story short, it was suggested that approx $25B of bank loans to the oil industry mature b/w Sept and Dec 2015 and the expectation is for a flurry of M&A activity in the next few months - expect MAD to be a player. Note - whereas MAD has been able to secure a credit facility at a rate of interest of around 2-3%, the average rate of interest of maturing debt later this year is almost 9%. MAD is in the box seat to take advantage of the situation as there are some very highly leveraged & indebted producers in the US looking for a new home.
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