Pritchard Capital's Morning Intelligence (COG, APC, CXPO, FTI)

Pritchard Capital is out with its Morning Intelligence report. In the report, Pritchard covers Anadarko Petroleum APC, Crimson Exploration Inc. CXPO, Cabot Oil & Gas COG, and FMC Technologies, Inc. FTI. In the report, Pritchard says that Anadarko reported encouraging Pearsall Shale results, and its Caesar Tonga and Jubilee fields are on schedule. Crimson Exploration has an updated on Enercom and Texas driving growth. In the note to clients, Pritchard says "several E. TX Haynesville/Bossier and Liberty County Cook Mountain wells should be on production in the next few months." With regard to Cabot Oil & Gas, Pritchard says the company will spend $500-600 million in 2011, providing "production growth in 2011, potentially double digit. Less than we had expected and roughly in line with cash flow at $5/$75 benchmark commodity prices." On FTI, Pritchard says, "CNOOC and HSE.T (C$24.42-NR) reportedly are disputing the division of shares in the Liwan project, delaying the development agreement for the field. Both parties have stated the dispute will not get in the way of field development, but simple logic suggests neither will make the massive capital investment Indications are that FTI ($61.77-B-$80) or AKER.NO (NOK 111.50-NR) take the subsea production award home, worth nearly $200MM, but delays may be viewed negatively as orders are pushed out."