Saturday, March 16, 2013

Abraxas Update for 2013

The linked article belows references a "Lillibridge East pad," but does not specify which wells; most likely permits #23622 - 23625, a 4-well pad. The NDIC website lists these Lillibridge wells:
  • 6849, 135, Abraxas, Lillibridge 3, Pershing, a Madison well, t3/79; cum 267K 1/3; still active after 33 years;
  • 7886, 271/PA, Graham Royalty, Lillibridge 1, Johnson Corner, a Red River well; t1/81; cum 51K 9/91;
  • 8065, PNC, Flying J, L. Lillibridge 4, Pershing
  • 9461, Dry, Amoco, Lillibridge Amoco A 1, Wildcat, a Red River well; 
  • 10525, 22/PNA/SWD, Abraxas, Lillibridge 4, Pershing, a Madison, t2/84; cum 28K 4/97;
  • 16571, 476, BR, Lillibridge 11-23H, Blue Buttes, 2-sec; t11/07; cum 169K 1/13;
  • 23622, conf, Abraxas, Lillibridge 20-17-1H, Pershing;
  • 23623, conf, Abraxas, Lillibridge 20-17-2H, Pershing;
  • 23624, conf, Abraxas, Lillibridge 20-17-3H, Pershing;
  • 23625, conf, Abraxas, Lillibridge 20-17-4H, Pershing;
  • 23645, conf, BR, Lillibridge 24-22MBH 2NH, Johnson Corner
  • 23647, conf, BR, Lillibridge 24-22TFH-3NH, Johnson Corner
Rigzone is reporting:
Operations in the Williston Basin, Bakken: Drilling continues on the Company's Lillibridge East pad with intermediate casing set on the 1H, 2H, 3H and 4H. The Company recently drilled and cased the lateral on the 4H with a 50 foot flare encountered while drilling. The rig is now preparing to spud the lateral of the 3H, which will be followed by the 2H and 1H. Abraxas owns a working interest of approximately 34 percent in the Lillibridge East PAD. As previously announced, the Ravin 2H and Ravin 3H were recently completed with the Ravin 2H performing in line and the Ravin 3H outperforming the Company's type curve. Abraxas owns a 49 percent working interest in both the Ravin 2H and 3H.
With regard to assets in the Bakken:
Abraxas recently sold ... scattered royalty interests in North Dakota and Montana at the March 2013 Oil and Gas Clearinghouse Auction ....
And more:
Furthermore, we continue to make progress in our efforts to refocus our portfolio and delever our balance sheet, with the non-op Bakken sale process starting in earnest as well as the recent sale of several non-core properties in Oklahoma, Louisiana and scattered royalty interests in North Dakota and Montana. 

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