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Abraxas Petroleum Corp. Message Board

  • chimakot chimakot Feb 20, 2013 6:14 PM Flag

    Abraxas out with an operational update.

    I'd like to know what the veteran AXAS shareholders think of the update. Are you thrilled, satisfied or disappointed? Do you think it's enough to keep Bob Watson at the helm? Thanks.

    Sentiment: Strong Buy

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    • KOG vs AXAS, which update looks better?

      Kodiak Oil & Gas (KOG -2%) says its year-end 2012 estimated total proved reserves were ~94.8M boe, representing a 138% Y/Y increase, and was comprised of 80.9M barrels of crude oil and 83.1B cu. ft. of natural gas. Says 2012 average daily sales volumes were 14.4K boe/day, a 267% Y/Y increase.

      Sentiment: Strong Buy

    • I for one am satisfied, the stock will respond positive on March 11th, not before I don't think. Watson is doing the right thing, by all accounts his doing exactly what Clinton asked in the letter .. So, earnings = PPS, so let's wait and see. Nevertheless, 2013 undoubtedly will be a good year for Abraxas.

      Sentiment: Strong Buy

    • Good old Bob will lead the charge until he rins the company in the ground. Go back several years and see what he has done for the stock price. He is a real bad joke to say the least.

      Sentiment: Sell

    • Sounds good to me, but what do I know? I was dumb enough to think it sounded good at $4. I don't really care what happens with Watson. Earnings are what I'm anxious to see, with or without him. Long term I feel fine, but I will probably need to sell some of my shares in the short term for tax reasons, and it would be great to sell them at $2.50 rather than $2 (or $1.50).

      • 1 Reply to meh76_1999
      • It sounded good to me and the forward guidance sounded on track with previous guidance, but I didn't know what to make from this paragraph. It sounds like revenues might be light for last quarter and the current quarter.....someone tell me I'm wrong.

        Production 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.

        Sentiment: Strong Buy

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