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Abraxas Petroleum provides operational update

In McMullen County, Texas, Abraxas’ forty acre pilot wells, the Camaro B 3H and Camaro B 4H, averaged 739 boepd and 808 boepd over each well’s first thirty full days of production, respectively. The production rates for each well do not include the impact of natural gas liquids and shrinkage at the processing plant. Following the Camaro A 1H, Abraxas will mobilize to the Blue Eyes 1H at the company’s Jourdanton prospect in Atascosa County. Abraxas holds a 100% working interest across the 4,000 acre lease block at Jourdanton. In McKenzie County, North Dakota, the Lillibridge 1H, producing from the Middle Bakken, averaged 1,275 boepd over the well’s first 30 full days of production. On the Lillibridge West pad, Abraxas recently reached TD and set casing on the laterals of both the Lillibridge 8H and Lillibridge 7H at 20,800 feet. The Lillibridge 6H is currently drilling below 13,000 feet. After completing the lateral of the Lillibridge 6H, Abraxas will commence the drilling of the lateral section on the Lillibridge 5H. In Nolan County, Texas, the Spires Ranch 129 2H, targeting the Strawn formation, reached a TD of 9,949 and has been cased. The well is currently scheduled to be fracture stimulated in mid-September. Abraxas holds a 100% working interest in the Spires Ranch 129 2H.