Abraxas Operational Update in the Williston Basin

Abraxas operational update for the Williston Basin. Press release linked here.

Williston Basin

Drilling continues on the Company’s Lillibridge East PAD with the laterals drilled and cased on the 3H and 4H.

The Company is currently spudding the lateral on the 2H, which will be followed by the 1H.

Abraxas owns a working interest of approximately 34% in the Lillibridge East PAD.

The Ravin 2H averaged 421 boepd (333 barrels of oil per day, 526 mcf of natural gas per day) on a 22/64” choke over its first 30 days of production. The Ravin 3H is currently shut in while the Company pulls the 4½” tie back string to install long term production equipment. Thirty day rates are expected shortly.

Before being shut in, the well was producing at rates significantly above the Company’s type curve. The completion of the Ravin 2H and 3H also had a positive impact on the previously drilled offsetting Ravin 1H, which averaged 630 boepd (534 barrels of oil per day, 577 mcf of natural gas per day) over its first seven days since returning to production. The Ravin 1H previously produced approximately 150 boepd before being shut in during the Ravin 2H and 3H completions. Abraxas owns a 49% working interest in the Ravin 1H, 2H and 3H.