These are incredibly trying times for public companies engaged in the exploration and production (“E&P”) of crude oil—not only is the coronavirus severely disrupting life and work as we know it, but also crude oil prices have hit unprecedented lows. What should public E&P companies be doing now in terms of disclosure and managing significant risks?
The reality for most is that no one knows the potential impact of the current crisis or how long it will continue – and it is OK to acknowledge this uncertainty in public filings. Many public companies have already done this.
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