This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Abraxas Provides Operational And Acquisition Update

Abraxas Petroleum Corporation (NASDAQ:AXAS) is pleased to provide the following operational and acquisition update.

Williston Basin

In McKenzie County, North Dakota, the Lillibridge 5H, producing from the Middle Bakken, averaged 1,049 boepd (861 barrels of oil per day, 1,127 mcf of natural gas per day) over the well’s first 30 full days of production (1). The Lillibridge 6H, producing from the Three Forks, averaged 921 boepd (762 barrels of oil per day, 954 mcf of natural gas per day) over the well’s first 30 full days of production (1). The Lillibridge 7H, producing from the Middle Bakken, averaged 1,005 boepd (840 barrels of oil per day, 989 mcf of natural gas per day) over the well’s first 30 full days of production (1). The Lillibridge 8H, producing from the Three Forks, averaged 1,049 boepd (902 barrels of oil per day, 883 mcf of natural gas per day over the well’s first 25 full days of production (1). Each of the four Lillibridge wells was constrained on a 16 to 20/64 th choke.

On the Jore Federal East pad, lateral casing has been set in the Middle Bakken on the Jore 2H and Jore 4H to a depth of 20,989 feet and 20,895, respectively. Raven Rig #1 is currently walking to the Jore 1H to drill the lateral section in the Three Forks. The three Jore wells are currently scheduled to be fraced in mid-February. In the event of extreme winter weather, the fracs could be postponed until the weather abates.

Abraxas owns a working interest of approximately 34% and 76% in the Lillibridge and Jore pads, respectively.

Permian Basin

In Nolan County, Texas, the Spires Ranch 129 2H averaged 92 boepd (59 barrels of oil per day, 196 mcf of natural gas per day) over the well’s first 30 full days of production (1). Abraxas owns a 100% working interest in the Spires Ranch 129 2H.

Eagle Ford

At Abraxas’ Jourdanton prospect, in Atascosa County, Texas, the Blue Eyes 1H continues to flow to sales at encouraging rates. Thus, Abraxas recently permitted the Snake Eyes 1H, which is expected to spud in the first quarter of 2014. Abraxas owns a 100% working interest in the Blue Eyes 1H and Snake Eyes 1H.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs