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ABRAXAS PETROLEUM ANNOUNCES SUCCESSFUL SOUTH TEXAS GAS WELL

 SAN ANTONIO, May 20 /PRNewswire/ -- Abraxas Petroleum Corporation (NASDAQ: AXAS) today announced that its wholly-owned subsidiary, Abraxas Production Corporation, successfully completed its Goldapp No. 3 well in the Alice Deep Field, Jim Wells County, Texas. Through perforations 8072-82 in the Crockett Sand, the well flowed 1.97 MMCF of gas per day on a 12/64-inch choke with 4,210 psi of flowing tubing pressure. On state potential test, the open flow potential was calculated to be 7.6 MMCFPD.
 Abraxas owns 100 percent working interest in this well and the surrounding 1,500 acres, all of which is dedicated to a gas purchase contract with Tennessee Gas Pipeline Company that currently pays in excess of $8.00 per MCF. Abraxas plans to drill as many as three additional wells on the dedicated acreage during 1993.
 Abraxas Petroleum Corporation is a San Antonio-based oil and gas exploration and production company with operations in eight states.
 -0- 5/20/93
 /CONTACT: Robert L. G. Watson of Abraxas Petroleum Corporation, 210-828-5354/
 (AXAS)


CO: Abraxas Petroleum Corporation ST: Texas IN: OIL SU:

WB -- NY064 -- 0217 05/20/93 11:20 EST
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Publication:PR Newswire
Date:May 20, 1993
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