Two years on from the beginning of the decline in oil prices, lenders continue to tighten access to finance for oil and gas drillers. Having been burned repeatedly by false starts for oil prices, big financial institutions and bond markets are taking a more cautious approach. New bond issuance for the oil and gas industry fell to its lowest level in the second quarter since the financial crisis in 2008-2009, a sign that credit markets are wary of getting back into the fray. In the second quarter, U.S. E&Ps only issued $280 million in bonds according to The Financial Times , a seven-year low. Also, banks only made $10.7 billion in syndicated loans, the lowest in two and a half years. Debt financed drilling created the shale boom – between 2007 and 2014 the industry raised $860 billion from bond sales and bank loans, the FT says. […]