This column was originally published on RealMoney on Oct. 21 at 3:56 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.Though oil and gas stocks are feeling the pinch of lower commodity prices, this week's earnings and outlooks for energy companies paint a very different picture. Earlier this week, after Lufkin Industries ( LUFK) reported a solid quarter and gave a rosy outlook, its shares bucked the sloppy energy stock trend and worked higher. That provided some hope that earnings will matter this quarter. On Friday, Schlumberger ( SLB) announced a solid quarter, but the stock was soft as traders focused on crude oil trading below $60 a barrel. That is important in the short term and will remain important until we find a new base for the price of crude and natural gas. However, once the markets find a new base -- likely somewhere in the $50s -- fundamentals will again become important, and then energy stocks are likely to be a value investor's friend.