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North American exploration and production (E&P) companies will begin to unveil their second quarter results over the coming weeks, and while there aren’t expected to be any big surprises, analysts are hoping for details on natural gas market fundamentals — particularly in the Marcellus Shale — along with insight into emerging plays and more information on ethane rejection in natural gas liquids (NGL) plays.

Rates for offshore rigs improved and the amount of downtime fell between April and June, helping to buoy offshore drilling contractor Noble Corp. to higher-than-expected profits.

Wells Fargo Securities analysts last week increased their outlook for natural gas prices to reflect 2Q2013 average pricing. They also expect to see “slightly increasing” gas output as badly needed infrastructure in the Marcellus, Utica and Eagle Ford shales comes online.

Baker Hughes Inc. is optimistic about North America for the second half of 2013, but sector leader Schlumberger Ltd. still expects an oversupplied pressure pumping market.

The Senate Thursday confirmed Gina McCarthy to head the Environmental Protection Agency (EPA), ending a four-month long stalemate between Republicans and Democrats over her controversial nomination.

Output from the nation’s shale plays has ballooned domestic natural gas production over the past few years, but the industry, and the country, have yet to fully embrace all that the paradigm shift entails, said Rick Smead, a director in Navigant Consulting Inc.’s energy practice.

Steel manufacturer Nucor Corp. said it plans to spend more than $700 million on natural gas drilling over a two-year period to meet its contractual obligations with Encana Corp. for low-cost gas supplies.

Apache Corp., which had planned to sell about $4 billion worth of assets by the end of the year, accomplished that goal and more last week after agreeing to sell Gulf of Mexico (GOM) Outer Continental Shelf operations and properties, and the asset retirement obligations, to a Riverstone Holdings affiliate for $5.25 billion total.

BP plc last week launched a Gulf Claims Fraud Hotline “to help protect the integrity of the claims processes” related to the 2010 Macondo well blowout and Deepwater Horizon oil spill.