Data Gumbo Blog

Smart Contracts Drive Better Financial Visibility

Sep 17, 2020 9:08:37 AM / by Data Gumbo Team posted in Oil & Gas, Smart Contracts, LOE

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In the first six months of 2020, 3,500 companies filed for bankruptcy. Experts expect insolvency numbers to surpass $100 million, rivaling the results of the 2008 economic crisis. There’s nothing to doubt: COVID-19 is deeply impacting companies. In fact, 58% of business leaders say that recent circumstances have completely changed their organization’s strategic priorities.

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Oil & Gas Needs a Real-Time Mindset

Sep 10, 2020 1:09:13 PM / by Data Gumbo Team posted in Smart Contracts, LOE

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If this year has taught us anything, it’s be prepared for the worst case scenario — perhaps the bumper sticker of 2020. Business as usual was quickly usurped by the COVID pandemic and commodity prices touching down to a 30 year low. Coupled with a crippling lack of demand, oil & gas companies have been left with little choice: adapt to the low-priced oil environment and cut costs, or face dire consequences like layoffs, bankruptcies and other down-market results.

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