Exploration & Production | Quarterly / Earnings Reports
Abraxas Credits Eagle Ford, Bakken for E&P 'Transformation'
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Abraxas Petroleum Corporation reported financial and operating results for the three and nine months ended September 30, 2013.
The three months ended September 30, 2013 resulted in: Production of 440 MBoe (4,781 Boepd) Revenue of $29.1 million Adjusted EBITDA of $18.1 million inclusive of Raven Drilling Adjusted discretionary cash flow of $17.1 million inclusive of Raven Drilling Net income of $3.2 million, or $0.03 per share Adjusted net income, excluding certain non-cash items and inclusive of Raven Drilling of $8.4 million, or $0.09 per shareBob Watson, Abraxas’ President and CEO, commented, "Evidence of Abraxas’ transformation into a focused high rate of return E&P is clearly evident in our third quarter numbers, which more than doubled street expectations. Notably, the company…
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