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Abraxas Petroleum Corp. Message Board

  • deepsub5 deepsub5 Nov 14, 2012 10:42 AM Flag

    Nobody mentions.....the BOE mix.....

     

    only 53% of BOEs produced were "crude oil or NGLs".....

    that means that LESS than 53% of their production was crude oil......say maybe 35%........so, they aren't getting the oily mix of production that would power up their profit margin......

    in other words.....even with the recent wells in the bakken, .....AXAS is still not anywhere oily enough to make it in this type market with low NGL and NG prices.

    Maybe, if they survive-----next year might bring higher NG price and pull their fat from the fire.

    deep

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    • Totally irrelevant. AXAS was all vertical wells to get the best payback. Now they have 16 Horizontals planned in the Bakken and three forks formation rather than the madison. These are 78-81% oil versus gas and their Working Interest is between 49% and 76%. Two wells producing, 3 more completed and one started of the 16 planned. AXAS has $17.1M invested and into these wells already on the books $5.8M cash and a $20M land sale pending.

      Sentiment: Buy

    • Liquids production was about 2,100 Barrels/day. NGLs were about 323 Barrels/day. Total production was about 4,000 BOE/day. So, deducting 323 from 2,100 equals 1,777 Barrels of Oil per day

      4,000 BOE divided into 1,777 = 44.4% oil, not 35% as you stated. The Bakken and EF wells they are currently bringing on might be in the 80% oil range, which means that the Oil/NGL should remain about the same, but the Liquids/Gas ratio should further tilt towards liquids. I think I am more concerned that in both the EF and Williston Basin, they really don't have that many spots were they can put together sections to drill. They say that they have 26 gross wells to drill, how long will it take to drill all 26 sections? Do they have the funds to keep that rig running all the time? Can they find someone to pay for drilling during the idle time?

    • absurd...that 53% produces plenty of oil to sell and make a profit

      and the percentage has risen considerably and will continue to do so in the near term

      • 2 Replies to meh76_1999
      • was just looking at the upcoming catalysts and net potential flows to AXAS over Nov & Dec, unhedged. with the comment on being above curve on bakken, EUR going up in EF... it looks like to me, proforma of course, they they have the potential for 3-6mm in additional revenue gross of operating (not drilling) costs from those 3-5 potential well starts/flows for Nov & Dec production. agree/disagree?

      • These negative posting shorts are trying to steal investors money here!! It's not moral or legal either!!!

        The next time you whack deepsub, ask him about the 2 lies I caught him posting here while he was trying to mislead posters....he really doesn't like it!!

        Mickey

    • Maybe it's because no one pays attention to you anymore after deliberatly posting negative & misleading posts here Mr flub. Please don't ask me to prove it.......because I can!!!!

      Pretty funny, huh?

      Mickey

 
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