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Abraxas to Frac Six Bakken Wells in 2Q; Puts Acreage Up for Grabs
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Abraxas Petroleum Corporation reported financial and operating results for the three months ended March 31, 2016.
Key Points: Abraxas continues to make progress on the Company's other announced asset sales. Abraxas' 12,178 net acre ranch has now been listed at an asking price of $550/acre. Abraxas continues to evaluate opportunities to bring forth additional value from the Company's Austin Chalk assets in Atascosa County, Texas and Bone Spring/Wolfcamp acreage in Ward and Reeves County, Texas. On the Stenehjem Super Pad, Abraxas is currently preparing the Company's six Bakken/Three Forks wells for fracture stimulation in late June/early July. Production expected in 3Q. Q1 2016 ResultsThe three months ended March 31, 2016 resulted in:
Production of 538 MBoe (5,916 Boepd) Revenue of…- ✓ Full news archive — U.S., Canada & international coverage
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