Denver-based Liberty Energy Inc., the leading completions expert in the Lower 48, is expecting the usual “seasonal softness” during the fourth quarter, punctuated by winter weather and the holidays, but stronger natural gas and oil prices should lift activity into 2024, CEO Chris Wright said Thursday.

Speaking with energy analysts about the third quarter performance, Wright said the exploration and production (E&P) customers were looking for more hydraulic fracturing (fracking) efficiencies to improve well performance, as well as options to reduce emissions. However, don’t expect activity to climb quickly in either the natural gas or oilpatch.

“Fourth quarter trends will likely see seasonal softness, winter weather and holiday disruptions,” the CEO said. “We expect...