Abraxas Petroleum: Rate Of Return Driven Growth With A Strong Balance Sheet
TheValueMan • 10 Comments
TheValueMan • 10 Comments
Wed, Aug. 10, 2:13 PM
- Abraxas Petroleum (AXAS -6.1%) sinks after posted a surprise Q2 loss - the company's sixth straight losing quarter - and a 42% Y/Y decline in revenues.
- AXAS says Q2 production of 4,883 boe/day was held down by gas processing curtailments in the Permian and shut-ins and downtime in the Bakken associated with offsetting fracture stimulations.
- Despite the disappointing Q2 results, AXAS says it plans to complete its well on the Bulls Eye lease and start drilling its well on the Caprito 99 lease this weekend; AXAS also plans to revive its dormant drilling activity in North Dakota.
Tue, Aug. 9, 4:52 PM
Mon, Aug. 8, 5:35 PM
- AMBC, APEI, APPS, ARWR, ATHX, AXAS, BW, CALL, CDXS, CHMI, CIVI, CLNE, CRME, CVCO, CYBR, DHT, DIOD, DIS, DPLO, EPIQ, EVRI, FENG, FF, FLTX, FOGO, FOSL, FTEK, GALE, HALO, HCKT, HLIT, HWAY, INFI, INWK, IPAR, JAZZ, KEYW, LITE, LSCC, MCHX, MDVN, MYGN, MYL, NH, NVAX, OMED, OMER, PCTY, PEN, PSIX, PTLA, QNST, RELY, RTK, SCTY, SEDG, SGRY, SPPI, SPWR, TAHO, TCS, TTGT, VRNS, VSAT, WAGE, XON, XONE, YELP, YRD, YUME, ZGNX, ZIOP
Wed, Jun. 22, 8:22 AM
- Abraxas Petroleum (NASDAQ:AXAS) says it started its first well targeting the oil-rich Austin Chalk geological layer, ending a 16-month drilling drought.
- AXAS says it recently ended discussions with the previously disclosed potential joint venture candidate after being unable to reach an agreement on terms.
- The new well comes as AXAS raises its 2016 capital spending budget to $30M-$40M from $25M; 2016 production guidance remains 6K-6.4K boe/day.
Fri, May 20, 12:48 PM
Fri, May 20, 9:13 AM
Thu, May 19, 4:54 PM
- Abraxas Petroleum (NASDAQ:AXAS) -9.7% AH after announcing a public offering of 25M common shares, with an underwriters option to purchase up to an additional 3.75M shares.
- AXAS says it plans to use the proceeds to pay down debt under its credit facility, expand planned 2016 drilling capex and for general corporate purposes including acquisitions.
- AXAS raises its 2016 capex budget to $40M as it plans to accelerate west Texas and Austin Chalk drilling programs.
- Now read Abraxas Petroleum: Borrowing base decrease appears manageable
Tue, May 10, 5:30 PM
Tue, May 10, 5:23 PM
Wed, Mar. 16, 2:58 PM
- Abraxas Petroleum (AXAS +8.2%) is higher after reporting a smaller than expected Q4 loss, although revenues trailed analyst estimates following a 57% Y/Y drop.
- AXAS says FY 2015 production totaled 537K boe (5,841 boe/day), up 4% Y/Y, despite a 64% drop in capex from 2014; it expects to maintain or slightly improve production volume this year even with an expected drop in capital spending to $17.5M-$40M.
- AXAS also says it aims to further improve its liquidity by planning to sell ~17.3K acres of oil leases in Ward, Reeves and Pecos counties in the Permian Basin.
- AXAS says that although its borrowing base may be revised lower, the lower level would be manageable and not inhibit the achievement of its goals.
Tue, Mar. 15, 4:28 PM
- Abraxas Petroleum (NASDAQ:AXAS): Q4 EPS of -$0.02 beats by $0.01.
- Revenue of $13.35M (-57.2% Y/Y) misses by $4.33M.
Mon, Mar. 14, 5:35 PM
Dec. 28, 2015, 12:40 PM
Nov. 4, 2015, 7:16 AM
- Abraxas Petroleum (NASDAQ:AXAS): Q3 EPS of -$0.03 misses by $0.01.
- Revenue of $16.08M (-63.3% Y/Y) misses by $4.67M.
Nov. 3, 2015, 5:30 PM
- AFAM, AGN, AMRN, ARCC, ARCO, ARQL, ARRY, AVA, AVP, AXAS, BDX, BIOS, BSFT, CBB, CDW, CECO, CHK, CLH, CRK, CRL, CRTO, CRZO, CST, CSTE, CTSH, DAVE, DDD, EE, EMES, FOR, FOXA, GDP, HAE, HEP, HMC, HSIC, HSNI, INXN, KELYA, KORS, LINC, LL, MEMP, MFA, MNTA, MSI, MWE, NAVB, NCT, NEWP, NRG, NYLD, REGN, SBGI, SCMP, SE, SHOP, SNH, SODA, SSYS, STNG, TESO, TMHC, TWX, USAK, VG, VOYA, VRTU, VSI, WCG, WD, WEC, WEN, WILN, WIX, WMC
Oct. 19, 2015, 3:25 PM
- Carrizo Oil & Gas (CRZO -4.2%), Comstock Resources (CRK -4.6%), Synergy Resources (SYRG -1.6%), Callon Petroleum (CPE -6.5%), Gastar Exploration (GST -5.9%) and Goodrich Petroleum (GDP +0.1%) are mostly lower despite getting praise from a Barron's weekend article as "six small oil explorers that should do well."
- Imperial Capital considers CRZO, CRK, SYRG and CPE as its favorite low-risk, small-cap E&P companies based on liquidity risk, quality of properties and quality of operatorship; in addition, Abraxas Petroleum (AXAS -7.5%), Jones Energy (JONE -4%) and PetroQuest (PQ -6.1%) are well positioned purely from a liquidity standpoint.
- Imperial says GDP, in the firm's high-risk group, shows the most improvement at maintenance capex because Haynesville Shale wells are expected to come online at such high rates; it places GST high in its medium-risk group.