Flexibility, location and scale are helping some oil and gas companies weather the current storm as the global coronavirus pandemic and economic consequences continue adding uncertainty to ongoing market volatility, energy experts say.

The industry witnessed negative oil prices rebound, operators shutting in and slowly bringing back production, massive budget cuts and layoffs along with a growing wave of bankruptcies in what could be characterized as one of the most challenging second quarters in the industry’s history. What comes next remains to be seen as rising COVID-19 cases threaten to again slow down life as previously known in parts of the world, particularly in the U.S.

With WTI crude futures just below $40/bbl early July 9, challenges remain for oil players.

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