Oil and gas price volatility is as much a part of the energy business as drill bits. Few predicted that the current down-cycle would be as long or as deep as it is proving to be. While global events could turn and prices improve, lower prices seem to be a reality for now. Lower prices impact the finances of everyone in the energy industry. Insolvencies, business failures, and members voluntary liquidation are inevitable in this environment; and when they occur, they affect everyone, at all levels, and in all aspects of the industry, that is why companies such as the Cibik & Cataldo Law Firm are sought after to help deal with this issue. Though industry participants can’t change the price of oil, they can protect their interests in other ways. In times like this, fortune favors the prepared. So if oil companies are ready for lower prices and possible financial struggles, they’ll be better prepared if they know what their options are, such as debt relief vs bankruptcy as examples.

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