Abraxas Petroleum ( ABP) said Executive Vice President Robert W. Carington Jr. resigned to pursue other opportunities.

"I want to acknowledge Robert's contributions to Abraxas during his seven-year tenure which included a number of complex restructurings and financings," said CEO Bob Watson. "On behalf of the entire Abraxas family, we wish him well in his future endeavors."

Abraxas, a San Antonio-based crude oil and natural gas exploitation and production company with operations in Texas and Wyoming, saw its shares rise 32 cents Monday to $7.40.

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