Pritchard Capital's Morning Intelligence (ATW, GIFI, NFX, UPL)

Pritchard Capital is out with its Morning Intelligence report, covering the oil & gas sector. In the report, Pritchard covers Atwood Oceanics, Inc. ATW, Gulf Island Fabrication, Inc. GIFI, Newfield Exploration Co. NFX, and Ultra Petroleum Corp. UPL. In the report, Pritchard says Atwood is likely building a drillship, and it does not foresee near-term equity risk, as the ultra-deepwater market is undersupplied, so this should be viewed positively. GIFI received a Letter of Authorization to enter into a contract for a major deepwater GOM project, the contract could be worth $200-$300 million, and could add 20-30 cents for the next 3 years in earnings power. NFX is spending over $100 million in Eagle Ford this year to drill 13 Eagle Ford and three Pearsall wells. UPL is working through its Marcellus kinks recent wells 2x expectations in Marcellus, as costs continue to fall in Pinedale.