Abraxas Petroleum Corporation (NASDAQ:AXAS) is pleased to provide the following operational and second quarter 2013 production update.
In McKenzie County, North Dakota, the Lillibridge 1H, 2H and 3H have all been flowing to sales at rates significantly above the Company’s type curve. The Lillibridge 1H, producing from the Middle Bakken, is currently producing 1,442 boepd (1,165 barrels of oil per day, 1,662 mcf of natural gas per day) on a 16/64” choke. Cumulative production from the Lillibridge 1H is 18,423 boe (14,920 barrels of oil, 21,018 mcf of natural gas) over its first 16 full production days on a restricted choke. The Lillibridge 2H, producing from the Three Forks, is currently producing 1,170 boepd (943 barrels of oil per day, 1,364 mcf of natural gas per day) on a 18/64” choke. Cumulative production from the Lillibridge 2H is 15,866 boe (12,761 barrels of oil, 18,630 mcf of natural gas) over its first 16 full production days on a restricted choke. The Lillibridge 3H, producing from the Middle Bakken, is currently producing 1,794 boepd (1,428 barrels of oil per day, 2,195 mcf of natural gas per day) on a 12/64” choke. Cumulative production from the Lillibridge 3H is 14,158 boe (11,233 barrels of oil, 17,547 mcf of natural gas) over its first 11 full production days on a restricted choke. The production rates for each well do not include the impact of natural gas liquids and shrinkage at the processing plant. The Lillibridge 4H is currently shut in awaiting cleanout due to what is believed to be a sand plug. Post cleaning out the well with coil tubing Abraxas will provide its flow rate. Each of the three producing Lillibridge wells was constrained on a smaller than normal choke to manage midstream gas takeaway bottlenecks, which are being remedied.
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