Printer Friendly

ABRAXAS ANNOUNCES RESULTS FROM RECENT WELL ACTIVITY

 SAN ANTONIO, July 16 /PRNewswire/ -- Abraxas Petroleum Corporation ("Abraxas") (NASDAQ: AXAS) today announced results from recent well activity on company-owned properties along the Central Texas Gulf Coast and West Texas areas.
 Abraxas recently finished three recompletions of previously shut-in wells in the Portilla Field, San Patricio County, Texas, after acquiring the property from Mobil Producing Texas & New Mexico Inc. earlier in the year. Results are as follows:
 The Welder No. 67 was recompleted in the Portilla 9,000-foot sand, Vicksburg Formation, and is currently producing 1.4MMCFD of gas with 2,400 pounds of pressure through a 9/64-inch choke. Both pressure and production have been steadily increasing following the recompletion efforts. Abraxas owns a 33 percent net revenue interest in the well.
 The Welder No. 66 was recompleted in the Portilla 7,400-foot sand, Frio Formation, and was completed for 132 BOPD and 250 MCFD. Abraxas owns a 33 percent net revenue interest in the well.
 The Welder No. 70 was recompleted in the Portilla 7,300-foot sand, Frio Formation, and is currently producing 41 BOPD and 200 MCFD. Abraxas owns a 33 percent net revenue interest in the well.
 In addition, Abraxas successfully drilled and completed its Meek No. 1 well, Martin County, Texas, in the Spraberry Formation, producing 74 BOPD and 50 MCFD. Abraxas has a 20 percent net revenue interest in the well and Castle Oil & Gas Inc., an 85 percent owned affiliate of Abraxas, owns an additional 20 percent net revenue interest.
 Abraxas Petroleum Corporation is a San Antonio-based oil and gas exploration and production company with operations in eight states.
 -0- 7/16/93
 /CONTACT: Robert L.G. Watson of Abraxas Petroleum Corporation, 210-828-5354/
 (AXAS)


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

SH -- NY034 -- 2501 07/16/93 13:17 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 16, 1993
Words:299
Previous Article:MIAMI-BASED RYDER DONATES OVER $65,000 IN CASH AND IN-KIND SERVICES TO AID THE FLOOD-RAVAGED MIDWEST; ESTABLISHES 'FLOOD RELIEF FLEET'
Next Article:OLYMPIA & YORK MAIDEN LANE FINANCE CORP. ASKS BONDHOLDERS TO FORM COMMITTEE
Topics:


Related Articles
ABRAXAS ACQUIRES SOUTH TEXAS OIL & GAS PROPERTIES FROM MOBIL
ABRAXAS PETROLEUM ANNOUNCES SUCCESSFUL SOUTH TEXAS GAS WELL
Abraxas Petroleum Corporation Closes $215 Million Private Placement; Expanded Offering is Oversubscribed
Abraxas Petroleum Corporation Announces Wyoming and West Texas Development Activity
Abraxas Petroleum Corporation Announces Record Earnings, Production, Revenue and Cash Flow for 1996 Fourth Quarter and Full Year
Abraxas Petroleum Corporation to Explore Northwest Territories of Canada
Abraxas Petroleum Corporation Announces Canadian Acquisition
Abraxas Petroleum Corporation Announces Results For Third Quarter 1997
Abraxas CEO Outlines Operations, Exploration Plays at Oil and Gas Conference
Abraxas Petroleum Corporation Announces Initial Results from Canadian Exploratory Drilling.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters