Take These Steps Today to Help Your Company Survive the Current Crisis

The oil and gas industry was already facing a squeeze before Saudi Arabia initiated a price war with Russia and the COVID-19 pandemic hit. But, with demand lower because of shelter-at-home orders and many worksites screeching to a halt, those oil and gas companies, or any economically distressed company, must take steps now to ensure that they have the capital and knowledge to last the next few months and beyond.

Having been a bankruptcy lawyer for more than 35 years, I have seen the full spectrum of boom and bust, both in the energy industry and beyond, several times over. While this economy presents unique challenges, I can say this without fear of contradiction: These challenges are not insurmountable.