Reserve-based revolving credit facilities (RBL facilities) are common in the oil and gas industry. But as low oil prices persist and RBL facility “borrowing bases” are adjusted downward by lenders, energy companies may be forced either to pay down a deficiency or to pledge additional collateral to support the RBL facility—both of which may be impossible in the current economic environment. Faced with this difficult choice, energy companies may explore other options, including filing suit against the lender. But what claims are available to these borrowers and what is the likelihood of success? While the answer depends on the particular agreement, the case law to date suggests borrowers may have a difficult time finding success in the courtroom.