Our Guide to Oil & Gas Financing

Oil & Gas Events

2020 Guide to Oil & Gas Events

The oil and gas industry is an economic juggernaut, accounting for $236.8 billion in domestic value in 2018 alone. 

In an industry defined largely by its volatility, the need to be up on current trends is critical to long-term success. Oil and gas events can be important and necessary for companies and vendors to share their services and leadership. That’s why we’ve gathered more than 20 of the top oil and gas conferences, expos, and forums happening this year. Check them out below. 

FEBRUARY 3-7, 2020 

NAPE Summit 2020
Houston, TX 

It’s said that NAPE is “where deals happen.” More than 15,000 upstream oil and gas come together from over 30 companies to explore in excess of 900 exhibits. The trade show has a huge focus on networking, empowering domestic and international decision makers to forge, facilitate, and close deals. 

More info: napeexpo.com/summit 

 

FEBRUARY 4-5, 2020 

American LNG Forum
Houston, TX 

Key topics for this year’s American LNG forum include production and exports, market outlook, LNG projects, and innovations. The forum also offers opportunities to connect with other industry professionals and learn. 

More info: americanlngforum.com 

  

FEBRUARY 4-6, 2020 

SPE Hydraulic Fracturing Technology Conference and Exhibition
The Woodlands, TX 

Put on by the Society of Petroleum Engineers, the 2020 Hydraulic Fracturing Technology Conference and Exhibition features a robust technical program, an exhibition of innovative products and services, and multiple networking opportunities. 

More info: spe-events.org/hydraulicfracturing/Homepage 

 

FEBRUARY 10-14, 2020 

SPE Forum: Unlocking the Value from Digital across the Full E&P Value Chain
Austin, Texas 

Topics for this Society of Petroleum Engineers forum will surround potential value capture and future applications of digitalization with discussions on data acquisition, management, transfer, analytics and governance across the entire upstream hydrocarbon industry including exploration, development, production, contracting/procurement, and organizational capability. 

More info: spe.org/events/en/2020/forum/20fus1/spe-forum-unlocking-the-value-from-digital-across-the-full-ep-value-chain.html 

  

FEBRUARY 11-12, 2020 

EnerCom Dallas: The Energy Investment Conference
Dallas, TX 

Investment professionals come together to listen to oil and gas management teams provide updates on their operational and financial strategies for the year ahead, providing insights on how they will build value. All presentations are streamed, but those who attend in person can take advantage of exclusive break-out sessions, VIP networking events, and one-on-one meeting scheduling. 

More info: enercomdallas.com 

 

FEBRUARY 19-21, 2020 

SPE International Conference and Exhibition on Formation Damage Control
Lafayette, LA 

The SPE International Conference and Exhibition on Formation Damage Control has learning opportunities covering challenges and remedies for all things related to the identification, prevention, and remediation of formation damage, plus networking. 

More info: www.spe.org/events/en/2020/conference/20fd/formation-damage-control.html 

  

MARCH 3-5, 2020 

IADC/SPE International Drilling Conference and Exhibition
Galveston, TX 

Operator companies, contractor firms, and service companies come together to explore ideas advance scientific understanding of drilling in oil and gas E&P at the IADC/SPE International Drilling Conference and Exhibition. 

More info: drillingconference.org/international/Homepage 

  

MARCH 9-11, 2020 

Energy 2.0
Houston, TX & Online and Denver 

Formerly known as HERWorld, Energy 2.0 is an “un-conference” designed to bring everyone to the table and attracts 75,000+ professionals each year. The 2020 theme is “Equality, Environment, and the New Economy,” with an in-person session in Houston being simulcast to virtual attendees and an in-person session in Denver. A third session runs in London later in the month. 

More info: energy2dot0.com 

  

MARCH 31, 2020 

Upstream Oil and Gas Professionals Hiring Event
Houston, TX 

Initiated by the Society of Petroleum Engineers – Gulf Coast Section, the Upstream Oil and Gas Professionals Hiring Event brings all upstream disciplines and organizations together to explore opportunities. 

More info: spegcs-mit-hiringevent.org 

  

MAY 4-7, 2020 

Offshore Technology Conference
Houston, TX 

The Offshore Technology Conference (OTC) is the leading event on technical advances, safety, environmentally-focused solutions, and economic and regulatory impacts, designed to advance the development of the offshore energy sector. 

More info: 2020.otcnet.org 

  

JUNE 17-19, 2020 

Energy in Data Conference
Austin, TX  

The AAPG, SEG and SPE are coming together to launch the first Energy in Data Conference, an experience wholly centered on digital transformation in the energy sector. Topics span machine learning through data management storage and more. 

More info: energyindata.org 

  

AUGUST 12-13 

Summer NAPE 2020
Houston, TX 

NAPE Summer is like the major NAPE Summit, but more intimate and with a regional focus. Meet with other upstream professionals to network and explore mutually beneficial opportunities. 

More info: napeexpo.com/summer 

  

DECEMBER 6-10, 2020 

23rd World Petroleum Conference 
Houston, TX 

Themed “Innovative Energy Solutions” the annual World Petroleum Conference will feature upstream and downstream innovations such as AI, VR, and predictive analytics. 

More info: wpc2020.com 

Factoring

Triumph Business Capital Guide to Oil and Gas Financing and Factoring

Every industry has its challenges, but the oil and gas industry is arguably one of the most difficult for a variety of reasons.

Like any business, oil and gas companies face a mix of financial and operational roadblocks that can hurt production. More than that, oil and gas companies are constantly challenged to adapt to changing demands in the market, like different requirements for hauling frac sand, for example.

Hypergrowth and changes in demand or production can leave businesses scrambling for a way to finance their day-to-day operations, let alone taking on larger contracts that will require investments in equipment and staffing.

The ebbs and flows of oil and gas companies requires a scalable, reliable solution that matches need with speed: when business is thriving, you need money to quickly accommodate; when business slags a bit, you need money to ensure that you can meet weekly obligations like payroll.

Let’s look at a few ways that invoice factoring helps oil and gas companies overcome some of these hurdles.

Challenges for Oil and Gas Companies

Oil and gas companies face significant challenges that are unique to their industry. These include:

  • Pricing fluctuations: These can lead to intense ups and downs in terms of both workloads and income – periods of hyper growth can be just as challenging as slow times.
  • Competition: This requires careful cost control and maneuvering to avoid being elbowed out by other companies in the sector.
  • Equipment issues: Companies to pay for routine maintenance and find ways to extend the life of existing equipment as well as buying new equipment as needed and as the industry changes.
  • Regulatory compliance: Adhering to environmental standards and controls, safety standards, and more are fundamental for oil and gas companies. These are not to be taken lightly and do require significant setup and fees to ensure proper compliance.
  • Hiring and staffing: Hypergrowth can lead to an immediate need for new workers, including truck drivers. These drivers, many times, do need to have additional training or specialization, so being able to locate them and hire them quickly can always be a challenge. 
  • Traditional lender restrictions: Banks often base loans and lines of credit on a company’s expected income. As we’ve mentioned, the oil and gas industry can be up-and-down, making projections difficult at best. Worst still, some lenders place concentration limits and enforce financial covenants on business owners, potentially restraining a company’s ability to work with certain clients or use their money as they see fit.

What these all have in common is the need for a reliable cash flow solution that grows as you grow and meets your long-term vision, in addition to your day-to-day needs. Remember: loans can take days and weeks and even months to acquire. As a business owner, your responsibility is to your operations and staff. You don’t have time for long documents, site visits, etc. You need capital.

How Can Oil and Gas Factoring Help?

Triumph Business Capital is a specialist in oil and gas company factoring. We’ve got a dedicated team of specialists who understand the unique challenges of the industry.

Our invoice factoring services provide significant benefits to oil and gas companies, including:

  • Reliable, consistent cash flow based on your account receivables to ensure you have the working capital you need.
  • The flexibility to factor what you want, when you want – giving you the power to control your costs and get the cash necessary to run your business.
  • Fair evaluations of payments based on our understanding that a company’s ability to pay is more important than how quickly they pay.
  • Cash without debt – invoice factoring involves the sale of your invoice, not a loan. That means you can get the money you need without adding debt.

Arguably the biggest benefit of all is that factoring companies like Triumph Business Capital have different standards than banks. While you might struggle to qualify for a bank loan or line of credit, factoring is available as a viable alternative.

Beyond Financing

In addition to offering cash advances against your invoices, Triumph Business Capital provides an array of back office services to help your business grow. For example:

  • We provide credit checks and evaluations to help you make smart choices about extending credit to new customers.
  • We make routine collection calls to ensure your invoices are paid.
  • We provide 24/7 access to our online portal, so you can request funding, submit invoices and check the status of an account at any time.

We provide the capital. You focus on your work.

Apply for Oil and Gas Factoring

Ready to get started? Click here to read about our oil and gas factoring services and fill out an application.

Oil and gas factoring and financing are there to provide cash flow when business is slow and fuel your growth opportunities when business is booming.

If you’re wondering whether invoice factoring is right for your energy business, Triumph Business Capital is here to help. We’ve got the expertise to understand your needs and the tools to provide you with the consistent cash flow and support you need.

 

Invoice funding

Exploring Some Large Volume Industries That Benefit from Invoice Factoring Services

We’ve discussed the benefits of invoice factoring in previous blog posts. From improving cash flow to providing stability, small businesses of all types and sizes — even trucking companies, — use and benefit from factoring companies to help their enterprises grow. Factoring companies specialize in helping small businesses drastically cut down wait times on payment, meaning that you can avoid waiting for 60, 90, or even 180 days for customer payments. But which businesses can make the best use of these services? Here are just a few large volume industries that can benefit from the assistance of invoice factoring services.

Staffing Firms Industry

Staffing agencies frequently use invoice factoring services for one main reason: they need to pay their employees regularly. But if their clients aren’t paying quickly enough, invoice funding or factoring services can step in and make sure the company’s hard-working employees get their paycheck. Access to immediate working capital is critical for a staffing company needing to make payroll on a weekly basis and still be able to take on new clients efficiently without worrying about being able to spend resources on finding and hiring new people. In staffing, it’s pretty simple: no money for payroll, no people and ultimately loss of contract. Many staffing companies can end up failing or having serious financial issues simply because of slow payments. Partnering with a factoring company and using strategic invoice funding ensures your people get paid, and you keep the contracts.

Professional Services Firms

Various professional firms also take advantage of invoice factoring options because of high-budget projects that take time to pay off. For example, law firms and architecture firms’ services usually range in the thousands of dollars, which may take months for businesses or corporations to pay off. These firms need capital to run efficiently and promote growth. Invoice funding can be an alternative to a traditional bank loan.

Manufacturing Industry

Finally, businesses focused on manufacturing can invoice factoring services for various reasons. Many times, the equipment they need for everyday operations becomes damaged, stalling production until it can be repaired. Repair costs can be expensive because of the highly-specialized equipment needed for production, and invoice funding can provide immediate capital to keep operations running. Without the funding required to stay on top of production costs, including unforeseen disruptions from breakdowns, the manufacturer risks missing deadlines and potentially losing out on anticipated money.

Get Started Today with Triumph Business Capital

While there are a wide variety of businesses that can benefit from invoice funding services, these are just a few examples of industries that may need it most. For more information about invoice factoring and funding services, contact Triumph Business Capital.