Abraxas Petroleum (NASDAQ:AXAS) has recently undergone a transformation as the company has disposed of non-core assets and has cleaned up its balance sheet over the last several years. Now that the company is set up for growth, we turn our attention to the Eagle Ford Shale, where the company has possibly found a production "sweet spot." After reviewing the company's recent presentation, we have inferred that the company will do about $90MM in EBITDA in 2015, with potential upside for the year to come.
For years AXAS has been a company, burdened by large amounts of debt, that could not get out of its own way from an execution perspective. But, the company made some...
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