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wii1dr

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wii1dr

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Monday, 06/29/2020 12:59:43 AM

Monday, June 29, 2020 12:59:43 AM

Post# of 974
((NEWS))
https://seekingalpha.com/news/3586543-abraxas-petroleum-discloses-amended-credit-agreements

Jun. 26, 2020 10:17 AM ET|About: Abraxas Petroleum Corporation (AXAS)|By: Carl Surran, SA News Editor

Abraxas Petroleum (AXAS -8.7%) says its lenders agreed to waive designated events of default related to its first lien credit facility and amend certain covenants and payment provisions, according to an 8-K filing.

The company says its borrowing base will be lowered to $102M from $135M and the semi-annual borrowing base mechanism will be removed.

Abraxas said earlier this week that it could not file its 10-Q form in a timely fashion, citing disruption from the coronavirus.
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