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BRIEF-Abraxas Petroleum announces signing of DEAL to acquire 853 net Delaware Basin Bone Spring/Wolfcamp acres for $4.6 million
July 14, 2017 / 11:20 AM / 2 months ago

BRIEF-Abraxas Petroleum announces signing of DEAL to acquire 853 net Delaware Basin Bone Spring/Wolfcamp acres for $4.6 million

July 14 (Reuters) - Abraxas Petroleum Corp:

* Says midpoint of 2017 G&A guidance increasing by about $1.25 million to account for bonus accruals & additional staffing needs

* Says plans to revisit 2017 production guidance after achieving stabilized rates from company’s recent completions

* Announces acquisition of 853 Net Delaware Basin Bone Spring/Wolfcamp Acres and provides divestiture update

* Announces Acquisition Of 853 Net Delaware Basin Bone Spring/Wolfcamp Acres and provides divestiture update

* Says definitive agreement signed to sell a portion of company’s Powder River Basin assets for $4.6 million

* Says ‍increasing capital expenditure budget to $120 million for 2017.​

* Says ‍with continued cost control,divestiture of high LOE barrels, reducing midpoint of LOE guidance by approximately $1.00/BBL for 2017​ Source text for Eikon: Further company coverage:

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