Hey, Buddy, can you spare me a dime?

Only in the case of the $7.15 billion Apollo Global Management-led acquisition of El Paso Corp’s E&P assets, that dime is reportedly $4.5 billion in reserve-based debt financing, or 63% of the purchase price.

Significantly, the Apollo group’s El Paso asset acquisition, which is expected to close in the 2nd quarter, marks the second energy LBO in 90 days following the $7.2 billion KKR/Samson deal that kicked off Thanksgiving weekend last November.

If you don’t think two energy LBO’s in 90 days ...