Abraxas Announces Borrowing Base Redetermination and Presentation at IPAA OGIS New York
April 04 2019 - 4:00PM
Business Wire
Abraxas Petroleum Corporation (“Abraxas” or the “Company”)
(NASDAQ: AXAS) today announced that the borrowing base on the
Company’s $300 million senior secured credit facility has been
increased from $200 million to $217.5 million in connection with
the Company’s recent borrowing base redetermination. All other
terms and conditions remain the same.
Abraxas also announced that the Company’s management will
participate in the upcoming IPAA Oil & Gas Investment Symposium
(OGIS) investor conference in New York on April 8-9, 2019. The
Company is scheduled to present on Monday, April 8 at 10:35 AM
Eastern Time. Details of the event can be found at
https://www.ipaa.org/, and a live webcast of this presentation can
be accessed at
https://www.webcaster4.com/Webcast/Page/2042/30016.
Abraxas Petroleum Corporation is a San Antonio based crude oil
and natural gas exploration and production company with operations
across the Permian Basin, Rocky Mountain, and South Texas regions
of the United States.
Safe Harbor for forward-looking statements: Statements in this
release looking forward in time involve known and unknown risks and
uncertainties, which may cause Abraxas’ actual results in future
periods to be materially different from any future performance
suggested in this release. Such factors may include, but may not be
necessarily limited to, changes in the prices received by Abraxas
for crude oil and natural gas. In addition, Abraxas’ future crude
oil and natural gas production is highly dependent upon Abraxas’
level of success in acquiring or finding additional reserves.
Further, Abraxas operates in an industry sector where the value of
securities is highly volatile and may be influenced by economic and
other factors beyond Abraxas’ control. In the context of
forward-looking information provided for in this release, reference
is made to the discussion of risk factors detailed in Abraxas’
filings with the Securities and Exchange Commission during the past
12 months.
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version on businesswire.com: https://www.businesswire.com/news/home/20190404005755/en/
Steven P. HarrisVice President - Chief Financial
OfficerTelephone
210.490.4788sharris@abraxaspetroleum.comwww.abraxaspetroleum.com