Third-quarter earnings season is getting underway, leaving analysts speculating about how exploration and production companies will continue to perform as oil prices remain low. Several themes are expected to resonate on conference calls, according to a Seaport Global Securities LLC report out this week: That doing more with less is how to win in this environment; that companies will limit their cash flow spending given the lack of visibility on the macro front; that flat oil and gas production will be the name of the game for next year; and that it's been a 'surprisingly tame' season this fall for banks' annual reevaluation, or 'redetermination' in industry parlance, of asset values, with most exploration and production companies walking away with their liquidity unscathed. The firm listed four near-term picks in its coverage area. The first is Continental Resources Inc. (CLR), which is led by billionaire Harold Hamm, who is better known than his company for his rags-to-riches story and some nasty divorce proceedings (in which his ex-wife wanted more than just a $975 million check). Seaport thinks the company continues to make significant progress on the cost and efficiency front, so much so that they expect it to hold its production flat next year while staying within cash flow at an oil price of less than $50 per barrel. Continental also has $1.3 billion of availability on its revolver that's not subject to a redetermination until 2019, which buys it a lot of time.