Abraxas Q4 output lower than full-year due to weather related downtime


Abraxas Petroleum (AXAS) says 2013 year-end reserves grew 3% Y/Y to 31M boe, with 11.3M boe of reserve additions more than offsetting 9.1M boe of divestitures; reserves consisted of ~20.9M barrels of oil, 2M barrels of NGLs and 48.1B cf of natural gas.

Q4 production averaged 4,084 boe/day, while full-year production averaged 4,298 boe/day; AXAS points to greater than anticipated weather related downtime during the drillouts of the Lillibridge 5H-8H for the Q4 results.

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Comments (2)
  • Joseph Hefferon
    , contributor
    Comments (350) | Send Message
     
    The weather hurt everyone. There's ice in parts of the Great Lakes up to 2 feet thick. Staying long for 2014..and beyond? We'll see
    21 Feb 2014, 09:05 AM Reply Like
  • Cowboy Junkie
    , contributor
    Comments (12) | Send Message
     
    This is a make or break year for AXAS to return some value to its loyal shareholders. We have stood by Mr. Watson through thick and thin and now it's time to "share the love".
    23 Feb 2014, 09:36 PM Reply Like
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