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August 4, 2014
16:37 EDTAXASAbraxas Petroleum reports Q2 production average 4,987 boepd
Abraxas Petroleum provided an operational, production and guidance update. At Abraxas’ Jourdanton prospect in Atascosa County, Texas, the company said it successfully completed the Ribeye 1H and Ribeye 2H with a combined 49 frac stages. After drill out, the wells will be placed on production and thirty day rates will be provided when available. At Abraxas’ Dilworth East prospect, the R. Henry 2H averaged 780 boepd over the well’s first 30 full days of production. At Abraxas’ North Fork prospect, in McKenzie County, North Dakota, the Company completed the Ravin 5H, 6H and 7H with a combined 99 frac stages. The Ravin 4H was completed with seven stages before encountering mechanical issues. The company elected to pull the 4.5 inch tie back string, polished bore receptacle and seal assembly before resuming the fracture stimulation of the well. It is anticipated the Company will resume the completion of the Ravin 4H and turn the well to sales by late September. The Ravin 5H, 6H and 7H, which will test 660 foot spacing in the Middle Bakken, are expected to begin flowback shortly. Production for Q2 averaged approximately 4,987 boepd, 312 boepd above the midpoint of guidance of 4,600-4,750 boepd. IT sees 2014 production of 6,500-6,700 Boepd.
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