Natural gas and oil operators are likely to report a return to normalcy — but not growth — when they unveil their third quarter results in the coming weeks, but the demand forecasts may be hazy amid a historic hurricane season and the expanded wave of damaging Covid-19 infections. 

Permian basin rig count

Schlumberger Ltd., the world’s largest oilfield services (OFS) operator, will set the tone as it leads off the earnings season early Friday. With its tentacles in every major operating basin in the world, onshore and offshore, investors should get a taste of what’s to come across the oil and gas complex, as operators detail whether they will expand or contract in the coming year. 

After shutting in oil and gas wells during the second quarter, most Lower 48 exploration and production (E&P)...