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Oil producer and shale exploration company Marathon Oil $MRO reported mixed second quarter earnings after the close Wednesday. The stock rose after the company guided capex lower and production maintained. 

Permian operator Parsley Energy $PE missed on the top and bottom line in Q2 earnings Wednesday with ot's shares cracked further on the news, $PE was already down over 6%, after earnings it is now down over 12% on the day.

Concho Resources $CXO reported mixed Q2 earnings Wednesday in another busy week for U.S. shale companies. CXO beat on earnings but on lower revenue as production rose.

The EIA releases it's weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.

Cleveland Fed President Loretta Mester commented on rates and inflation. These are interesting in light of the recent weak inflation numbers and the tumbling U.S. dollar, says 3 hikes a year appropriate.

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