ABRAXAS PETROLEUM CORPORATION (NASDAQ:AXAS) Files An 8-K Other Events
Item 8.01 Other Events
On October 14, 2019, the Company issued a press release announcing a broader engagement with Petrie Partners. Petrie Partners has been engaged to assist Abraxas with exploration of opportunities related to its interests in the Williston Basin of North Dakota. The Board of Directors determined to broaden the engagement with Petrie Partners to include a more thorough review of the Company’s current business and strategic plans. The expanded mandate to assess options for Abraxas is a broad one, which might include sales of assets, merger or acquisition transactions, additional financing alternatives or other strategic transactions. The press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
ABRAXAS PETROLEUM CORP Exhibit
EX-99.1 2 ex_160012.htm NEWS RELEASE ex_160012.htm ABRAXAS PETROLEUM CORPORATION www.abraxaspetroleum.com Abraxas Announces Broader Engagement with Petrie Partners SAN ANTONIO (October 14,…
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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.
