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

|About: Abraxas Petroleum Corporation (AXAS)|By:, SA News Editor

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.