One-Page Deal Sheet
Abraxas Announces Divestitures of $5.4 Million.
Not Disclosed Abraxas Petroleum Corp.
Announced Date
February 01,2010
Close Date
March 10,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
5
Asset/Basin:
{"Williston Basin"}
Location
Region
Williston Basin
Country
United States
State
North Dakota
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Abraxas Petroleum Corporation announced that it has closed three separate divestitures for total net proceeds of approximately $5.4 million to certain undisclosed buyers. All of the net proceeds were used to repay outstanding indebtedness under the term loan portion of the Company's credit facility.
These non-core assets were located in Moffat County, Colorado, Bienville Parish, Louisiana and Bottineau County, North Dakota, and produced approximately 48 net barrels of oil equivalent per day which equates to approximately 1% of Abraxas' daily net production for the quarter ended September 30…
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