Friday, November 30, 2012

In-Play: Abaxas Guidance

Abraxas Petroleum Corp reports that it expects 4Q12 production to average between 4,300-4,500 BOEPD: Abraxas expects 4Q12 production to average between 4,300-4,500 BOEPD. The variance in guidance is due to the timing of completion and productivity of recent Bakken and Eagle Ford wells. Abraxas expects 2013 production to average between 4,900-5,200 BOEPD, which equates to approximately 21-28% growth over 2012. The Company is also actively marketing numerous assets which it deems non-core, assets with a low working interest or assets with little associated production that are not reflected in this guidance.
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5 comments:

  1. AnonymousNovember 30, 2012 at 12:46 PM

    I was curious as to how many wells they have to produce 5,000 avg bpd. I just looked at the Well Index, and it looks like they have 10 producing wells since 2010 (prior to that all their wells were spudded before 2000 and probably the assets they are going to sell off). So, it looks like their production is avg 500 bpd. which is pretty good.

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    Replies
    1. Bruce OksolNovember 30, 2012 at 12:57 PM

      Could be; I don't know.

      Delete
    2. Bruce OksolNovember 30, 2012 at 4:15 PM

      An anonymous reader advises one to look at the key statistics of this company. This is not an investment site. Investing has risks. To reiterate something I posted earlier: in my mind, the easy money in the Bakken has been made. If you are thinking of investing in the Bakken now: don't, unless you can afford the loss. That should go without saying, but it appears I have to keep saying it. Just because something is posted on the MillionDollarWay does not mean it is endorsed one way or the other.

      Delete
  2. AnonymousNovember 30, 2012 at 5:14 PM

    They have old WB wells. Most of their acreage is HBP.

    Some Eagle Ford.

    Some Permian.

    Some other.

    Lots of wells.

    Anon 1

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