A TRICKLE TURNS TO A TORRENT

摘要

Atrickle of equity issuance has turned into a torrent, reaching $7.5 billion in the quarter to date as of early March, according to Tudor, Pickering, Holt & Co. Already, the partial-quarter total has exceeded the full-year total of 2009, when crude prices staged a recovery. What started as seemingly an instance of extra insurance being added by more defensive names—for example, Diamondback Energy Inc. raising equity and paying down much of its revolver—has turned into a wider wave of offerings to buttress balance sheets once E&Ps saw the market was receptive.