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Abraxas to Spud First Wolfcamp A Well; Talks Bakken, Austin Chalk Ops
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Abraxas Petroleum Corporation reported financial and operating results for the three and six months ended June 30, 2016.
Key Points:In Ward County Texas, Abraxas plans to spud the Company’s first well targeting the Wolfcamp A, the Caprito 99-101H, on August 13, 2016.
The three months ended June 30, 2016 resulted in: Production of 444 MBoe (4,883 Boepd) Revenue of $11.0 million Adjusted EBITDA of $2.2 million Adjusted EBITDA per bank loan agreement of $13.9 million(a) Adjusted discretionary cash flow of $1.2 million Net loss of $46.9 million, or $0.40 per share Adjusted net loss, excluding certain non-cash items of $5.9 million, or $0.05 per share Operational Update Williston BasinAt Abraxas’ North Fork prospect, in McKenzie County, North Dakota, eight stages remain in the completion…
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