EOG Resources (EOG) announced a net loss of $1.57/share in the second quarter - the first negative print I can remember - as Covid-19-driven oil demand destruction hit even the best of the shale oil producers.
Due to the combination of shut-in production (~75,000 boe/d) and a low realized oil price (~$20/bbl), revenue fell off a cliff and was less than 25% of the prior year quarter:
Source: Q2 EPS report
However, underneath that headline print was strong operational and financial performance. Due to the company's short-cycle shale wells, it was able to