Abraxas Petroleum Corp.

Abraxas Petroleum Corp., a Nevada corporation , today announced the cash sale of its Williston Basin assets to Lime Rock Resources for $87.2MM, the repayment of all of its revolving credit facility and the exchange of its entire Second Lien Term Loan held by Angelo Gordon Energy Funding, LLC into newly authorized Series A Preferred Stock. The transactions, which closed today, were part of the Company's previously [...]

Abraxas Petroleum Corp. today announced that on November 2, 2020 it received a confirmation letter from The NASDAQ Stock Market LLC that it has regained compliance with Nasdaq Listing Rule 5550, which requires a minimum average closing price of $1.00 per share over a period of 10 consecutive trading days. The letter also confirms that Nasdaq is closing the non-compliance matter. Abraxas Petroleum Corp. is a San Antonio [...]

Abraxas Petroleum Corp. today announced that its Board of Directors has determined to renew the strategic alternatives review announced last October and led by Petrie Partners, LLC . “Petrie has been a great partner for Abraxas in the past,” said Bob Watson, Abraxas CEO. “Now that we have successfully amended our agreements with Angelo Gordon and our banks, we look forward to working with Petrie to examine ways to [...]

Abraxas Petroleum Corp. today announced that it has completed the final elements of its recent refinancing transactions. As disclosed in the Company’s Form 8-K filed on August 13, 2020 with the Securities and Exchange Commission, the Company issued a Warrant to an affiliate of Angelo Gordon granting AG the right to purchase up to 33,445,792 shares of the Company’s common stock for a purchase price of $.01 per share, at [...]

Abraxas Petroleum Corp. today announced that on Wednesday, July 1, it received notice from The NASDAQ Stock Market LLC that the Company is not presently in compliance with the NASDAQ continued listing rules since the Company has not yet filed its Form 10-Q for the period ended March 31, 2020. In accordance with applicable NASDAQ procedures, the Company plans to timely notify NASDAQ that it intends to pursue actions to [...]

Abraxas Petroleum Corp. today announced that on Wednesday, April 1, it received notice from The NASDAQ Stock Market LLC that the Company is not presently in compliance with the NASDAQ continued listing rules since the Company has not yet filed its Form 10-K for the period ended December 31, 2019. In accordance with applicable NASDAQ procedures, the Company plans to timely notify NASDAQ that it intends to pursue actions to [...]

Abraxas Petroleum Corp. : In response to current market conditions, the Company has reduced G&A expense by approximately 40%. This was accomplished by a combination of salary reductions, reduction in board size, and selective layoffs. In addition, while current oil market conditions persist, our capital expenditures will be limited to minor projects that will reflect a meaningful and permanent reduction in lease operating [...]

Abraxas Petroleum Corp. : On August 28, 2019, Abraxas Petroleum Corp. announced that it received notice from The NASDAQ Stock Market LLC that the company did not then meet the NASDAQ continued listing standard which requires a minimum average closing price of $1.00 per share over a period of 30 consecutive trading days. NASDAQ had provided a period of 180 days following receipt of the notice to meet the standard and [...]

Abraxas Petroleum Corp. today announced it has entered into a $100 million Senior Secured Second Lien Term Loan Facility with Angelo Gordon Energy Servicer, LLC. Net proceeds from the financing are estimated to be approximately $95 million, all of which was used to pay down the Company’s revolving credit facility. At closing, the borrowing base under the Company’s revolving credit facility was set at $135 [...]

Abraxas Petroleum Corp. today reported financial and operating results for the three and nine months ended September 30, 2019. Financial Highlights for the Three Months Ended September 30, 2019: The three months ended September 30, 2019 resulted in: Production of 9,899 Boepd Revenue of $31.5 million Net income of $17.0 million, or $ 0.10 per share Adjusted net income of $ 3.8 million, or $ 0.02 per share EBITDA of $20.0 [...]