While no true conservative supports government intervention in the free martketplace, there is the aspect to consider of having a number of companies go bankrupt.
For myself, I vote in favor of no interference. The oil and gas is not going anywhere, and the industry always has cycles, some extremely painful like this.
If a company goes down, it will just take some time for a new one to pop up and exploit the same resources.
But this works both ways.
I also condemn the approach we had in the 70s where oil and gas was produced under a ceiling price to benefit those who did not wish to pay more for the product. Especially when Texans were forced to pay more for natural gas as a result of these restrictions.