Abraxas Petroleum Corporation (NASDAQ:AXAS) today reported financial and operating results for the three and nine months ended September 30, 2011 and provided an operational update.
Financial and Operating Results
Including Abraxas’ equity interest in Blue Eagle’s production, the three months ended September 30, 2011 resulted in:
- Production of 373.1 MBoe (4,055 Boepd), a 5% increase over Q2 2011, of which 47% was oil or natural gas liquids.
The three months ended September 30, 2011 resulted in:
- Production of 343.1 MBoe (3,729 Boepd), excluding Abraxas’ equity interest in Blue Eagle’s production, a 10% increase over Q2 2011;
- Revenue of $18.0 million;
- EBITDA (a) of $9.6 million;
- Discretionary cash flow (a) of $8.1 million;
- Net income of $20.1 million, or $0.22 per share; and
- Adjusted net income (a) of $3.6 million, or $0.04 per share.
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