| Abraxas Announces Spudding of First Well Targeting the Austin Chalk at Jourdanton; Updates Status of Potential Joint Venture and Provides Capital Expenditure Update; Announces Departure of Vice President of Exploration | |
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SAN ANTONIO--(BUSINESS WIRE)-- Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (AXAS) today announced the spudding of the Company’s first well targeting the Austin Chalk at Jourdanton, updated the status of the Company’s potential joint venture, provided a capital expenditure update and announced the departure of the Vice President of Exploration. Austin Chalk – Atascosa County Abraxas spudded the Company’s first well targeting the Austin Chalk, the Bulls Eye 101H, on June 16, 2016. The Company recently set surface casing to 4,670 feet. Gross drilling and completion costs for Abraxas’ first 5,700 foot lateral Austin Chalk well are estimated at $5.8 million. Abraxas expects to complete this well in August 2016 and expects first production by September 2016. Abraxas recently elected to terminate discussions with the previously disclosed potential joint venture candidate after being unable to reach an agreement on acceptable terms in a timely manner. Abraxas will continue to explore other joint venture opportunities on this asset. Capital Expenditure Update |
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Abraxas Petroleum Corporation
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CODE : AXAS |
ISIN : US0038301067 |
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Abraxas Petroleum est une société de production minière de pétrole basée aux Etats-Unis D'Amerique. Son principal projet en production est FIRST EAGLE en USA. Abraxas Petroleum est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 5,8 millions US$ (5,1 millions €). La valeur de son action a atteint son plus haut niveau récent le 03 juillet 2014 à 6,45 US$, et son plus bas niveau récent le 26 mai 2023 à 0,02 US$. Abraxas Petroleum possède 165 889 901 actions en circulation. |