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AXAS - Abraxas Petroleum Corporation

Abraxas Petroleum Corporation logo Abraxas Petroleum Corporation (AXAS) is an independent energy company primarily engaged in the exploration, development, and production of oil and gas properties in the United States. The company's operations are primarily focused on the Permian Basin in West Texas and the Rocky Mountain region, including the Bakken formation in North Dakota.

In its most recent quarterly report for the period ended September 30, 2022, Abraxas Petroleum reported revenues of $24.4 million, a significant increase from the same period in the previous year. However, the company also reported a net loss of $5.5 million for the quarter, which was wider than the net loss of $1.9 million in the same period in the previous year.

The company reported average production of approximately 5,200 barrels of oil equivalent per day. Abraxas Petroleum has stated that it is continuing to pursue development opportunities in the Permian Basin, which it believes has significant potential for growth.

In addition, the company has been focused on reducing its debt levels and improving its liquidity. As of September 30, 2022, Abraxas Petroleum had a total debt of $101.8 million, a decrease from $108.4 million at the end of the previous quarter. The company has also taken steps to improve its liquidity position by raising capital through the sale of common stock and the issuance of new debt.

However, Abraxas Petroleum's operations may be impacted by various factors, including fluctuations in commodity prices, regulatory changes, and environmental concerns. In addition, the ongoing COVID-19 pandemic has caused disruptions in the global economy and the oil and gas industry, which may continue to affect the company's financial performance.

Overall, Abraxas Petroleum Corporation is a mid-sized energy company with a focus on exploration, development, and production of oil and gas properties in the United States. While the company has faced challenges in recent years, it is taking steps to improve its financial position and pursue growth opportunities in the Permian Basin and oth

 



 

 

 
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