Exploration & Production | Reserves | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program
Abraxas Lowers Spending, Delaying Completions
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Abraxas Petroleum Corporation has announced 2014 year end reserves grew 37% over 2013 to 42.4 MMBoe, and also provided first quarter 2015 guidance.
December 31, 2014 Reserves As of December 31, 2014, Abraxas’ proved oil and natural gas reserves consisted of approximately 42.4 MMBoe, a net increase of 11.4 MMBoe, or approximately 37%, over 2013 year end reserves of 31.0 MMBoe. The majority of the reserve additions came from the Bakken where the Company benefited from an upward revision in the type curve and successful downspacing tests in the Middle Bakken and Three Forks. The additional undeveloped locations on the Southern Fault Block at Jourdanton remain unbooked. December 31, 2014 reserves consisted of approximately 29.4 million barrels of oil, 3.7 million barrels of NGLs and 55.9…- ✓ Full news archive — U.S., Canada & international coverage
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