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Abraxas Petroleum Corp. (AXAS) Provides A North American Operations Update

|Includes: Abraxas Petroleum Corporation (AXAS)

Abraxas Petroleum reported an updated operational report on the company's oil and gas activities in North America. The company is active in exploration and development in both the United States and Canada.

Abraxas Petroleum recently completed an upgrade of a land drilling rig in North Dakota and plans to start drilling a horizontal well in McKenzie County. The well will target the Middle Bakken formation on its acreage here.

Abraxas Petroleum recently completed a horizontal well in Wyoming that targeted the Turner formation. The well was drilled and completed using a seventeen stage hydraulic fracturing operation and produced 340 barrels of oil and 6.9 million cubic feet of natural gas per day during an initial production period.

Abraxas Petroleum owns a 35% equity share of the Blue Eagle joint venture, which is involved with the development of the Eagle Ford shale formation in Texas. The company reported a recent well drilled here with production of 800 barrels of oil and 480,000 cubic feet of natural gas per day.

In Canada, Abraxas Petroleum reported that the company has pipeline infrastructure capacity to accommodate three wells and has put one well onto production. The other two wells are awaiting completions operations.

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