Abraxas Upcoming Catalysts October 2016 Raven Rig 1; McKenzie County, ND
Corporate Profile NASDAQ: AXAS Headquarters.......................... San Antonio EV/BOE(3,4,5)... 7.70 Employees(1)............................ 83 Proved Reserves(8)...... 43.2 mmboe Shares outstanding(2)......... 135.1 mm…
Core Regions Abraxas Petroleum Corporation Williston: Proved Reserves (mmboe)(1): 43.2 Bakken / Three Forks Proved Developed(1): 32% Oil(1): 56% Current Prod (boe/d) (2): 4,883 Powder River Basin: Turner Legend Rocky…
2016 Operating and Financial Guidance 2016 Capex Budget Allocation 2016 Operating Guidance Capital % of Gross Net Low High Area Operating Costs (MM) Total Wells Wells Case Case Permian - Delaware 10.0 25.0% 2.0 1.5 LOE (/BOE) 8.0…
Upcoming Catalysts 6
Catalyst 1 Bakken / Three Forks 3,902 net HBP acres located in the core of the Williston Basin in Mckenzie County, ND de-risked Bakken and Three Forks 36 operated completed wells 1 non-operated well waiting on completion Expected…
Bakken / Three Forks North Fork Economics Middle Bakken: Type Curve Assumptions Middle Bakken: ROR vs CAPEX (1) Abraxas Booked Assumptions Abraxas Updated Assumptions 533 MBOE gross type curve 728 MBOE gross type curve 78% Oil…
Catalyst 2 Austin Chalk 7,776 total net acres located in the Jourdanton Field perspective for the Austin Chalk in Atascosa County, TX 5.0 million D&C costs for 5,000 laterals Targeted EURs of 400 mbo for 5,000 lateral Fist…
Karnes Trough Vertical and Horizontal Austin Chalk Production (Cumulative Oil) Blackbrush Kolodziej-Pawelek Unit 102H CUM Production Oil: 208 MBO Gas: 389 MMCF 7 Months Blackbrush Annie Trail/Yanta 11 14 Months EOG…
Catalyst 3 Permian Basin Wolfcamp & Bone Spring Ward/Reeves 5,248 net HBP acres located on the eastern edge of the Delaware Basin in Reeves/Ward County Four identified potential zones (Bone Spring, Wolfcamp) Potential gross…
Additional Delaware Acreage Permian Basin Wolfcamp & Bone Spring Pecos 563 net acres located in Pecos County Held by Production Four potential gross locations (Wolfcamp A) 13
3rd Bone Spring and Wolfcamp Comparison of Abraxas Leases to WC/BS Horizontal Activity 3rd Bone Spring and Wolfcamp A thickness similar to basinal wells Horizontals target top of Wolfcamp Lower Wolfcamp interval much thicker in…
3rd Bone Spring and Wolfcamp Abraxas Lease Areas: 3rd Bone Spring and Wolfcamp A present, relatively consistent Lower Wolfcamp and underlying Penn. interval, variable 15
3rd Bone Spring-Wolfcamp A Thickness Isopach (Thickness) Map of 3rd Bone Felix Energy Holdings II, LLC Recent Permits Spring & Wolfcamp A with Wolfcamp/Bone Spring wells drilled Pyote Flats 98-34-1H (Jagged Peak) 11 mos Oil / Gas…
Strong Offset Operator Results Abraxas acreage is located on the eastern platform of the play Jagged Peak has been the most active operator in the Felix area to date achieving attractive results in both the Rock of Ages Four Mile…
Planned Asset Sales Additional Assets 2016 to date, Abraxas has monetized or has under contract approximately 24.2 million(1) of non- core assets. Abraxas is currently marketing several additional non-core assets. If successful,…
Abraxas Eagle Ford Properties 10,819 Net Acres Jourdanton Area Jourdanton Area Atascosa County Black oil 7,352 net acres Cave Area McMullen County Black oil 411 net acres Dilworth East Area McMullen County Oil/condensate…
Eagle Ford Jourdanton Jourdanton 7,352 net acre lease block, 100% WI 90+ well Eagle Ford potential North Fault Block Held by production Eight wells drilled 36+ additional potential well locations South Fault Block One…
Eagle Ford Dilworth East Dilworth East 1,148 acre lease block, 100% WI 11 additional locations (red) Eight, 5,000-5,500 lateral locations Three, 8,500 lateral locations R. Henry 2H 30 day IP: 780 boepd (1) On production…
Eagle Ford Cave Cave 411 net acre lease block, 100% WI Lower Eagle Ford fully developed Four 9,000 lateral locations Best month cumulative oil shown in green Offset operators : 8-10 mbo Abraxas Dutch 2H: 29 mbo Dutch 1H…
Eagle Ford Focused on Execution Well Area Lat. Length (1) Stages (1) 30-day IP (boepd) Status T-Bird 1H Nordheim 5,102 15 1,202 (2) Sold 13 WyCross Wells WyCross 5,000 7,500 18 29 466 1,184 (2,3) Sold Blue Eyes 1H Jourdanton…
Powder River Basin Turner Sandstone Horizontal Play Powder River Basin: Turner Sandstone Isopach of Turner thickness Multiple producing vertical wells, tight sandstone Horizontal exploitation with multi-stage fracs recently…
Abraxas Hidden Gas Portfolio Edwards (South Texas) PDP: 6.9 bcfe (net)(3) Previous risked offsetting PUD locations: 27.9 bcfe (net) (4) 11 gross / 7 net locations dropped to PRUD (SEC 5 year rule) 7 gross / 5 net locations drilled…
Permian Basin Sharon Ridge - Westbrook: Clearfork Trend Sharon Ridge/Westbrook: Clearfork Trend 89 active wells San Andres, Glorietta, Clearfork Cooperative water flood on some leases 110 potential (1) new-drills, recompletes…
EBITDA Reconciliation EBITDA is defined as net income plus interest expense, depreciation, depletion and amortization expenses, deferred income taxes and other non-cash items. The following table provides a reconciliation of EBITDA and…
TTM EBITDA Reconciliation EBITDA is defined as net income plus interest expense, depreciation, depletion and amortization expenses, deferred income taxes and other non-cash items. The following table provides a reconciliation of EBITDA…
Standardized Measure Reconciliation PV-10 is the estimated present value of the future net revenues from our proved oil and gas reserves before income taxes discounted using a 10% discount rate. PV-10 is considered a non-GAAP financial…
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