Energy Credit Overview: 2026 Energy and Power Credit Conference Takeaways

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Energy Credit Overview: 2026 Energy and Power Credit Conference Takeaways

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Energy Credit Overview

2026 Energy and Power Credit Conference

Takeaways

Credit Analysis

14th Annual Energy Credit Conference 08 June 2026

We hosted the 14th annual BofA Energy Credit Conference on June 3rd and 4th. We High Yield Credit

summarize each of the panels and include takeaways from management presentations for 14 United States

companies that we meet with at the conference: CRC, CLMT, CHRD, CRK, GLNG, HBRLN, Energy

MTDR, MSSCRK, NBR, SM, RCKENE, SOBOCN, VETCN and XOM. Gregg Brody

Research Analyst

Hormuz drives oil trajectory, Global gas a boiling frog BofAS+1 646 855 6410

Near-term oil price outlook depends upon the reopening of Hormuz with $10-15/bbl gregg.brody@bofa.com

downside if war ends. Oil supply buffer is dwindling, the need to restock and diversify Daniel Lungo

will provide support for the next 18-24 months. Refining inventories remains tight due ResearchBofAS Analyst

to global disruptions. US refiners are benefitting from strong crude availability. +1 646 855 9965

daniel.e.lungo@bofa.com

Constructive global natural gas price as inventories remain very low into winter. Despite

Gavin Andersen

growing linkage of Henry Hub with TTF due to growing exports Henry Hub price remains Research Analyst

insulated from global gas volatility. There is some risk to our commodity team’s $4.00 BofAS gavin.andersen@bofa.com

2027 forecast as Permian gas comes to market.

Alexander Williams

BofASRating agencies provided no major surprises alexander.c.williams@bofa.com

On hosted S&P, Moody’s and Fitch’s Energy ratings teams to discuss their outlook on

Peter Merlini

the industry as well as individual issuers. There were no major surprises from the panel. Research Analyst