Abraxas Petroleum Corporation (NASDAQ:AXAS) today reported financial and operating results for the three and six months ended June 30, 2012 and provided an operational update.
Financial and Operating Results
Including Abraxas’ equity interest in Blue Eagle’s production, the three months ended June 30, 2012 resulted in:
- Production of 388.7 MBoe (4,272 Boepd), up 12% over Q1 2012, of which 54% was oil or natural gas liquids.
The three months ended June 30, 2012 resulted in:
- Production of 358.5 MBoe (3,940 Boepd), excluding Abraxas’ equity interest in Blue Eagle’s production, a 10% increase over Q1 2012;
- Revenue of $15.9 million;
- EBITDA (a) of $8.9 million;
- Discretionary cash flow (a) of $7.1 million;
- Net income of $10.9 million, or $0.12 per share; and
- Adjusted net income (a) of $1.9 million, or $0.02 per share.
- Debt Covenant Metrics:
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