What financial crisis? Executives heading up E&P, midstream and oil service firms need have little fear that the ongoing credit crunch on Wall Street will harm their capital-raising efforts in 2008. Yes, debt may be a little harder to come by, and for some, it may cost a few more basis points, but the oil and gas industry can access capital.

This is especially true if companies are involved in shale-gas plays or other so-called unconventional plays. At press time, for example, Range Resources Corp., which is a leader in the Barnett and Marcellus shales, increased its bank credit facility to $1 billion from $900 million-this after an oversubscription by its existing bank group and the ...

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