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February 20, 2013
17:43 EDTAXASAbraxas reports proved reserves up 0.84 MMBoe to about 30.1 MMBoe
December 31, 2012 reserves consisted of approximately 58% oil, 9% NGLs and 34% natural gas versus December 31, 2011 reserves of approximately 46% oil, 8% NGLs and 46% natural gas. Proved oil reserves increased approximately 30% in 2012. 48% of proved reserves as of December 31, 2012 and December 31, 2011 were classified as proved developed. The present value, using a 10% discount rate, of future net cash flows before income taxes of Abraxas' proved reserves was approximately $316.9M, using 2012 average prices of $2.86/mcf of natural gas and $95.14/bbl of oil. The lower average natural gas price of $2.86/mcf in 2012 versus $4.16/mcf in 2011 resulted in the removal of 3.1 mmboe of previously proved undeveloped natural gas reserves, which were uneconomic to drill at 2012 average natural gas prices. The independent reserve engineering firm DeGloyer and MacNaughton prepared a complete engineering analysis on 98.9% of Abraxas' proved reserves on a BOE basis.
News For AXAS From The Last 14 Days
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December 17, 2014
07:12 EDTAXASAbraxas Petroleum has strong wellhead level returns, says SunTrust
After conducting a well study in the Williston Basin, SunTrust says that Abraxas' wellhead-level returns appear to be the strongest in its coverage. The firm thinks the company's low debt levels leave it well-positioned to buy land at attractive prices. SunTrust reiterates a $5 price target and keeps a Buy rating on the stock. .
December 16, 2014
09:59 EDTAXASOn The Fly: Analyst Downgrade Summary
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06:42 EDTAXASAbraxas Petroleum downgraded to Neutral from Outperform at RW Baird
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06:20 EDTAXASAbraxas Petroleum to host conference call
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December 15, 2014
18:30 EDTAXASOn The Fly: After Hours Movers
UP AFTER EARNINGS: VeriFone Systems (PAY), up 1.5%. ALSO HIGHER: Prothena (PRTA), up 10.7% after receiving FDA fast track designation for NEOD001... Boeing (BA), up 2.3% after increasing dividend by 25% and authorizing a $12B share repurchase plan... Yamana Gold (AUY), up 4.6% after reporting new discoveries at Chapada, El Penon. LOWER: Abraxas Petroleum (AXAS), down 2% after reporting fourth quarter volume guidance and fiscal 2015 production guidance.
18:07 EDTAXASAbraxas Petroleum CEO cites 'significant obstacles in Q4'
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18:05 EDTAXASAbraxas Petroleum sees 2015 production 7,200-7,300 Boepd
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17:59 EDTAXASAbraxas Petroleum sees Q4 volumes 6,700-6,800 Boepd
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December 8, 2014
07:40 EDTAXASMany E&P target prices lowered at SunTrust
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