With a deal like Schlumberger’s announced acquisition of liquids partner and drillbit maker Smith International for some $11 billion (adding in debt), speculation abounds as to “Who’s next?”

Discount rates among shale plays continue to be diverse, based on which plays have proven to perform, says Jim Parkman, co-founder and managing director of energy investment-banking firm Parkman Whaling LLC.

In this blog a few days ago, I wrote about Jim Bob Moffett, major domo of McMoRan Exploration Co., who spoke in Houston on the big Davy Jones find on the shallow-water shelf.