Abraxas Announces Borrowing Base Redetermination and Presentation at IPAA OGIS New York
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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Copyright Business Wire 2019
Source: Business Wire
(April 4, 2019 - 4:00 PM EDT)
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