Abraxas Petroleum

Abraxas Petroleum announced several operational updates. Its two-well Mesquite Pad in the Delaware Basin of west Texas is currently producing more than 1,400 BOE/D (including flared gas) from two approximately 4,800-ft laterals. One lateral is in the lower Third Bone Spring formation; the other is in the upper Third Bone Spring formation. Abraxas owns an approximate 73% working interest in the Mesquite pad. The company’s one-well Pecan 47 Pad, in which it holds 100% interest, is being prepared for fracture treatment. This well has an approximately 4,800-ft lateral in the Wolfcamp A-1 zone. The company’s two-well Creosote Pad is currently drilling with planned 4,800-ft laterals in the Wolfcamp A-1 and A-2 zones. Abraxas owns an approximate 80% interest in this pad.