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Author has a degree in Engineering and is an avid investor in the market. Experience in industrial materials and structures. In college studied atomic & nuclear physics as well as material engineering. Eastern European
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  • Under the radar Bakken Oil play $AXAS with nearly 21 thousand acres in the Bakken. 0 comments
    Mar 7, 2011 10:46 AM | about stocks: AXAS, WLL, CLR, STO, NOG, FOR, GEOI

    Michael Filloon of SeekingAlpha.com on

    Abraxas Petroleum Corporation (NASDAQ:AXAS)

    AXAS solid assets include:

    • Bakken/Three Forks 20,835 net acres
    • Eagle Ford 8,333 net acres
    • Niobrara 18,700 net acres
    • Pekisko Fairway 9,120 net acres
    • Alberta Bakken 10000 net acres
    • Texas 8700 net acres

    Abraxas is targeting 50/50 gas to oil mix of production. 2011 cap ex is 100% liquids.


    About the Bakken oil formation:

    A government report says that the Bakken Oil formation holds anywhere between 10 Billion to a Potential of 500 Billion Barrels of Oil  - http://bit.ly/gZHFqB

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