Drilling & Completions | Quarterly / Earnings Reports | Third Quarter (3Q) Update | Capital Markets | Drilling Activity | Capital Expenditure - 2019
Abraxas Cuts Spending 23% for 2019, Talks Rig / Well Plans; Talks Q3 Bakken, Wolfcamp Drilling
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Abraxas Petroleum reported its Q3 2018 results as well as announced its preliminary 2019 capex.
2019 Capital BudgetAbraxas has approved a budget for 2019 of $108 million - this is down -23% from $140 million for 2018. It will support a two-rig program that will drill 25 wells.
Bakken:
One rig running Drill / Complete 13 wells Spend $39 millionDelaware Basin:
One rig running Drill / Complete 12 wells Spend $58 millionAbraxas plans to issue additional guidance for 2019 when results from the recently completed Bakken wells and one soon to be completed Delaware well are known.
Production Jumps +25% from 2Q18Production of 926 MBoe (10,070 Boepd) - up +16% YOY and up +25% from 2Q18
Williston / Delaware Drilling Activity, Type CurvesWilliston Basin, North Dakota
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