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Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, development, exploration, and production of oil and gas in the United States and Canada. Its oil and gas assets are primarily located in the Rocky Mountain, Mid-Continent, Permian Basin, and Gulf Coast regions of the United States, as well as in the province of Alberta, Canada. As of December 31, 2010, the company?s estimated net proved reserves were 26.6 million barrels of oil equivalent. As of the same date, it owned interests in 143,606 net acres; and operated 1,307 wells. The company was founded in 1977 and is based in San Antonio, Texas.