Expect

Schlumberger Ltd. and Baker Hughes Inc. both expect fourth quarter profits to be lower than anticipated, in part because of a slowdown in North American drilling activity.

Encana Corp. on Thursday struck a C$2.18 billion joint venture (JV) agreement to explore and develop close to half a million acres of its leasehold in the Duvernay Shale with a subsidiary of PetroChina International Ltd.

Don’t expect the Department of Interior to come out with a final rule addressing hydraulic fracturing (fracking) on public lands before the end of the year, said an official representing exploration and production interests in the West.

Freeport-McMoRan Copper & Gold on Wednesday returned to its U.S. energy roots with a $9 billion cash-and-stock offer to buy Plains Exploration & Production Co. (PXP), a leading unconventional producer, and McMoRan Exploration Co.

During the third quarter, Houston-based Rosetta Resources Inc. quickened its pace in the Eagle Ford Shale where it grew production 68% from the year-ago level; production was also wetter. Management also disclosed Thursday that the company is testing two new areas outside of the Eagle Ford.

Despite some fall-off, Houston-based CARBO Ceramics Inc. Thursday said it continues to see strong ceramic proppant sales volumes in the active major shale plays such as the Eagle Ford, Permian and Bakken.

U.S. Ethane presents a “wall of worry” to gas producers and processors (which fear margin collapse), pipelines (which fret over volumes) and consumers (which fear scarcity and high prices), an industry analyst said in Houston Monday. There is always something to worry about, but there’s always something on which to disagree, too.

The onshore United States “remains the No. 1 place for investment” and the likelihood for future deal making “remains high,” according to Tudor, Pickering, Holt & Co. (TPH) CEO Bobby Tudor.

When the fear and hype die down, U.S. exports of liquefied natural gas (LNG) will happen, and volumes will be smaller than many expect with a modest impact on domestic gas markets, according to a global gas market expert. But just a little bit can make a difference in other ways.