ABRAXAS PETROLEUM CORPORATION (NASDAQ:AXAS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 of this Current Report on Form 8-K as it relates to the Warrant.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 5, 2020, Abraxas’ Board voted to increase the size of the Board to four, and Todd Dittmann was appointed, effective as of August 11, as a member of Abraxas’ Board to fill the vacancy and to serve until he or his successor shall be duly elected and qualified at the 2020 annual meeting of Company’s stockholders or until his earlier death, resignation, retirement, disqualification, removal, or until such date as the Governance Agreement is terminated in accordance with its terms. There are no related-party transactions that would be required to be disclosed under Item 404(a) of Regulation S-K with respect to Mr. Dittmann.
Mr. Dittmann is an executive of Angelo Gordon, and upon effectiveness of appointment to Abraxas’ Board, Mr. Dittmann will become subject to Section 16 of Securities Exchange Act of 1934.
Item 9.01. Financial Statements and Exhibits.
ABRAXAS PETROLEUM CORP Exhibit
EX-10.1 2 ex_199019.htm WARRANT TO PURCHASE COMMON STOCK ex_199019.htm Exhibit 10.1 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,…
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About ABRAXAS PETROLEUM CORPORATION (NASDAQ:AXAS)
Abraxas Petroleum Corporation is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and gas. The Company’s estimated net proved reserves are approximately 43.2 million barrels of oil equivalent (MMBoe), of which over 38% are classified as proved developed, approximately 71% are oil and natural gas liquids (NGL), and approximately 95% of which (on a PV-10 basis) are operated by the Company. The Company’s daily net production is approximately 5,970 barrels of oil equivalent per day (Boepd), of which over 77% is oil or liquids. The Company’s oil and gas assets are located in three operating regions: the Rocky Mountain, Permian Basin and onshore Gulf Coast. The Company’s properties in the Rocky Mountain region are located in the Williston Basin of North Dakota and Montana, and in the Green River Powder River and Unita Basins of Wyoming and Utah.
