Fourth Quarter 2012 ProductionProduction in the fourth quarter averaged approximately 4,147 barrels of equivalent per day (“boepd”). Variance from original guidance was caused by the delayed completions of the Ravin 2H and 3H, considerable unanticipated weather related downtime in the Williston Basin and gas plant issues in the Eagle Ford shale that relegated the Company to flare gas. These issues remained throughout the month of January. Production volumes for the month of February have returned to more normalized levels of an estimated 4,400-4,600 boepd before the recent incremental completions of the Ravin 2H, Ravin 3H and Gran Tornio A 1H as well as the upcoming completion of the Mustang 3H. Given the recent strong base production and incremental production anticipated from the above mentioned Bakken and Eagle Ford completions, Abraxas reiterates its production guidance of 4,900 – 5,200 boepd for 2013.
Abraxas Provides Operational Update; Provides Fourth Quarter And Year-End Production And Reserve Data; Announces Commencement Of Sale Process For Non-Operated Bakken/Three Forks Assets
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