The word solvency is used to identify whether the companies have a capacity to meet with its long-term commitments. In this paper solvency analysis is done to measure the long term financial obligations. Under this study debt-equity ratio, capital gearing ratio, solvency ratio, proprietary ratio and capitalization ratio has used to analyze the capital structure of GAIL (India) Ltd. and ONGC Ltd. During the study period it is found that debt-equity position, capital gearing ratio and proprietary fund position of the companies are not satisfactory. Solvency position of GAIL (India) Ltd. was satisfactory but the ONGC Ltd. has highly satisfactory solvency position. Capitalization ratio of GAIL (India) Ltd. is also satisfactory but the capitalization ratio of ONGC Ltd. is not satisfactory during the study period.