Abraxas Announces Agreements to Sell Non-Core Assets, Provides Operational Update, and Provides Third Quarter 2019 Conference Call Information
ABRAXAS PETROLEUM CORP (AXAS)
Last abraxas petroleum corp earnings: 11/13 02:24 pm
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US:NASDAQ Investor Relations:
abraxaspetroleum.com/invest.aspx
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Source: Business Wire
SAN ANTONIO--(BUSINESS WIRE)--Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:AXAS) today announced the execution of definitive agreements on two non-core asset sales in the aggregate totaling approximately $7.9 million. Both transactions are subject to certain due diligence and closing conditions, but are intended to close within the next 45 days. One sale represents all of the Company’s remaining South Texas assets, while the other is a non-operated acreage position in Reeves County, West Texas. The combined assets produced on average approximately 310 barrels of oil equivalent during August, 49 percent crude oil.Operational UpdateIn Ward County, Texas, the two well Woodberry Pad, in which the Company owns a 100 percent working interest has produced approximately 72,000 barrels of oil and 85 million cubic feet of gas over the first 66 days of production. One well is in the Wolfcamp A-1 while the other is in the Lower Third Bone Spring formation. Both wells are
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