These non-core assets were located in Moffat county, Colorado, Bienville Parish, Louisiana and Bottineau county, North Dakota, and produced approximately 48 net barrels of oil equivalent per day, which equates to approximately 1% of Abraxas’ daily net production for the quarter ended September 30, 2009.
Bob Watson, president and CEO of Abraxas, said: “We are pleased to announce these divestitures as we embark on our post-merger rationalization of non-core assets. Throughout the year, we will continue to divest assets that are not in our core areas, in particular non-operated properties,”
Abraxas Petroleum is a San Antonio-based crude oil and natural gas exploitation and production company with operations across the Rocky Mountain, Mid-Continent, Permian Basin and Gulf Coast regions of the US.
