From Bismarck North Dakota to San Antonio Texas, Oil and Gas companies and suppliers are experiencing a huge shift in commodity prices. Yet, America’s oil production continues to rise. Oil producers and suppliers have transformed themselves into nimble high-tech manufacturers that can adapt on a dime to outside forces. Funding tools such as non-recourse accounts receivable factoring give oil and gas suppliers the working capital they need to continue doing business as usual.
Companies that supply oilfield service providers such as Halliburton and Baker Hughes, have seen demand slow but realize prices are cyclical.
“Oil goes up, oil goes down. That’s what commodities do,” said Susan Spencer, chief executive of U.S. Pressure Test, a subcontractor for hydraulic fracturing services. “What this really is, is an opportunity for us all to raise the bar for our own companies.”
BusinessCash.com has over 20 years of experience providing the oil, gas, and energy industry working capital. This is through invoice factoring and purchase order financing with credit protection and AR management. Give us a call at 866-598-4295 today, fill out the form to the right or chat with us.