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Abraxas Petroleum Corp. Message Board

  • richardclovis richardclovis May 28, 2013 4:21 PM Flag

    Update

    SAN ANTONIO--(BUSINESS WIRE)--May. 28, 2013-- Abraxas Petroleum Corporation (NASDAQ:AXAS) is pleased to provide the following operational update; announces upcoming presentation.

    Eagle Ford Shale

    In McMullen County, the Mustang 2H averaged 511 boepd (469 barrels of oil per day, 249 mcf of natural gas per day) on a restricted choke over its first 30 days of production. The Mustang 2H is currently flowing to sales at a rate of 437 boepd (407 barrels of oil per day, 177 mcf of natural gas per day). The Sting Ray A 1H, Abraxas’ first 29 stage, 7,500 foot lateral well, is currently being fracture stimulated. Immediately following the completion of the Sting Ray A 1H, the stimulation crew will begin completion operations on the Corvette A 1H. Currently, Abraxas is drilling the first of the Company’s two forty acre pilot wells, the Camaro B 4H below 10,000 feet. Abraxas owns an 18.75% working interest in the Mustang 2H and Sting Ray A 1H and a 25% working interest in the Corvette A 1H and Camaro B 4H.

    Williston Basin

    In McKenzie County, the Company recently drilled and cased the lateral of the Lillibridge 1H to 20,587 feet. Abraxas is currently preparing to run tie back strings on all four wells. All four wells will be simultaneously completed in June. Abraxas owns a working interest of approximately 34% in the Lillibridge East PAD. Abraxas is rigging down its company owned rig, which will walk to the Lillibridge West PAD to begin a four well drilling program in the near future.

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    • Yahoo left this out of my cut & paste...

      Upcoming Presentations

      Geoff King, Vice President and Chief Financial Officer, and Pete Bommer, Vice President Engineering, of Abraxas will be presenting at the SunTrust “Play-by-Play” Oil & Gas Conference in New York on Wednesday, May 29, 2013 at 10:40 AM EDT. A copy of the Company’s presentation will be accessible on the Abraxas website at www.abraxaspetroleum.com.

      Bob Watson, President and CEO of Abraxas, commented, “Activity levels remain strong at Abraxas. In the Eagle Ford, we are eager to see how our first long lateral the Sting Ray A 1H performs. Moreover, our forty-acre spacing test at WyCross on the Camaro B 4H and Camaro B 3H, if successful, carries with it significant reserve and inventory implications. The upcoming four well completion on the Lillibridge East PAD promises to provide a significant boost to volumes. As previously announced, we will be walking the rig to the Lillibridge West PAD in an effort to avoid any potential road ban delays. We look forward to updating the market in the near future post these completions.”

    • What is everyone's take on the results.

 
AXAS
3.92-0.28(-6.67%)Oct 22 4:00 PMEDT

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