Oil and gas companies enter 2018 in their best shape since oil prices collapsed. We expect the sector to demonstrate it's back in business in 2018, and to try to find a formula that can win over sceptical investors. There will be growing evidence that the sector has moved from survive to thrive. And companies will continue to build for the future, taking advantage of once-in-a-decade opportunities. We assess the 2018 prospects for the Majors, Independents and NOCs, focusing on five themes.