Pritchard Capital's Morning Intelligence (APC, BRNC, KOG, GST, CPX)
Pritchard Capital is out with its Morning Intelligence report, in which it covers Anadarko Petroleum Corporation (NYSE: APC), Bronco Drilling Company, Inc. (NASDAQ: BRNC), Kodiak Oil & Gas Corp. (AMEX: KOG), Gastar Exploration Limited (USA) (AMEX: GST), and Complete Production Services, Inc. (NYSE: CPX).
On APC, Pritchard says that the First Avalon Shale well is currently flowing back, and over 400 Mbbl per well EUR in EF; plans to do a JV in EF by the year-end
On KOG, Pritchard says it expected to have 2 additional wells completed by mid October.
GST announced a exciting Marcellus joint venture, as its partner will pay GST $30 mm in cash plus a $40 mm drilling carry. The deal valued at $4100/acre, and Pritchard expects stock to react favorably to news.
Pritchard is raising its 3Q EPS to $0.30 from $0.27 on CPX, due to stronger than expected activity in CPX's target basins.
BRNC auctioned its well-servicing equipment, and sold its workover assets for ~$7.5MM, which will be used to pay down debt.
Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.
