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Abraxas Suspends Delaware Basin Ops Until 2020; Details Pad Drilling Results

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   |    Thursday,October 03,2019

Abraxas Petroleum has detailed an update on its Permian operations.

Delaware Basin

After the fracing of the Greasewood Pad (see below), drilling operations in the Delaware Basin have been suspended with three commitment wells to be drilled in 2020. Two of these wells will be owned 100 percent by Abraxas, while the third will be approximately 50 percent owned by Abraxas.

Woodberry Pad

In Ward County, Texas, the two well Woodberry Pad, in which the Company owns a 100% working interest has produced approximately 72,000 BO and 85 Mmcf 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 producing from approximate 4800 foot laterals and were fracked with 30 and 32 stages, respectively.

Greasewood NE Pad

Also, in Ward County, Texas, frac jobs on the two well Greasewood NE pad should be completed in the next several days with flowback to begin shortly thereafter. Abraxas owns a 100 percent interest in this two-well pad with one 4800 foot lateral in the Wolfcamp A-1 and the other 4800 foot lateral in the Wolfcamp B. Each well is being fracked with 32 stages.

Bakken

In McKenzie County, North Dakota, drilling operations on the six well Jore Federal Extension pad have been successfully completed, all with two mile laterals, three in the Middle Bakken, two in the Three Forks Upper Bench and one in the Three Forks Second Bench. As winter weather has already arrived in North Dakota, completion of these wells in which Abraxas owns an approximate 90 percent interest, will commence upon the arrival of warm weather next spring.

The Company owned drilling rig, Raven Rig #1, is down undergoing fifth year required maintenance. Upon completion, a decision will be made about the timing of the drilling program for the remaining 13 wells.