See these slides: https://www.eia.gov/finance/review/pdf/ ... q12018.pdf
Conclusion: The upstream companies that survived the oil price cycle are in much better financial shape today than they were a year ago. Q2 results are going to be even better.
EIA Financial Review of Q1 2018 Upstream Companies
EIA Financial Review of Q1 2018 Upstream Companies
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group