Those oil producers which have a strong balance sheet, marked by low levels of debt, are well-positioned to withstand the downturn. But others like Oasis Petroleum (OAS) will struggle. The Houston, Texas-based shale driller might find it difficult to comply with a key financial covenant and has limited resources available to repay its large debt. The company can sell assets and use the proceeds for debt reduction, or it can try extending the maturities by refinancing the debt, but this won't be easy in the current climate. In my opinion, Oasis Petroleum's outlook