Pritchard Capital's Morning Intelligence (RES, ATPG, BPZ)

Pritchard Capital is out with its morning intelligence report this morning. In the report, Pritchard covers RPC, Inc. RES, ATP Oil & Gas Corporation ATPG, and BPZ Resources BPZ. Pritchard raised its estimates and price target on RES, saying a higher rig count should drive revenue. It raised Q3 estimates to 35 cents and the price target went to $27 from $25. ATPG secured a $350 million term loan facility from CLG Energy Finance, LLC. It received a $150 million at closing, and will receive the remainder when future Telemark wells on production. On BPZ, Pritchard says that the new Corvina well is on production, and CX11-23D is bringing in a sustained 1500 Bo/d.