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Timothy Smith

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Timothy Smith

Re: willlbone post# 544

Friday, 09/04/2015 11:34:30 PM

Friday, September 04, 2015 11:34:30 PM

Post# of 974
Abraxas Petroleum is higher after announcing that its bank syndicate reaffirmed its borrowing base at $165M through April 1, 2016.

AXAS also says it continues working on steps to improve profitability amid low commodity prices, including shutting in or divesting any marginal wells and making additional investments in its production facilities and ancillary equipment; it expecting the moves will lead to more predictable production in the future.

AXAS lowers its FY 2015 production guidance to 5,800-6,500 boe/day, and sees full-year capex of $55M-$65M.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty

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