Pritchard Capital Provides Color on Exploration & Production Sector

Pritchard Capital provided color on exploration and production sector. In a research report published today, Pritchard commented on Cabot Oil & Gas' COG announcement of two new wells in northeast Pennsylvania. The report states, "This past week Cabot Oil & Gas (COG-$58.12) announced two more outstanding Marcellus wells in northeast PA in Susquehanna County. One was turned to sales at 29.5 MMcf/d and the other at 29.7 MMcf/d (both constrained). With impressive rates like this, one question that arises is whether or not there are attractive leasing opportunities across the Pennsylvania border in New York where there is still a hydraulic fraccing moratorium?" Pritchard also named a number of companies that could benefit from an end to the hydraulic fraccing moratorium in New York. The report states, "There are a number companies that could benefit if the hydraulic fraccing moratorium is lifted in New York. Some are Chesapeake Energy Corporation (CHK-$31.11), Talisman Energy Inc (TLM-$20.87), Carrizo Oil & Gas. Inc (CRZO-$37.77), Epsilon Energy (EPS-C$3.86), Norse Energy Corporation (NSEEY-$1.22) and Gastem Inc. (GMR-C$0.16)." On Monday, Cabot added 0.07% to its value to close the day at $58.12, while Chesapeake's shares rose 0.1% to $31.11. Talisman and Carrizo have put a very strong performance on Monday, with Talisman rising 0.97% to $20.87 and Carrizo climbing 1.29% to $37.77.