Brief: Abraxas Provides Operational, Acquisition And Guidance Update
30/01/2018 23:11
Jan 30 (Reuters) - Abraxas Petroleum Corp AXAS.O :
* ABRAXAS PROVIDES OPERATIONAL, ACQUISITION AND GUIDANCE
UPDATE
* JANUARY TO DATE PRODUCTION AVERAGING APPROXIMATELY 11,400
BOEPD, IN EXCESS OF PLANNED EXIT RATE OF 10,750 BOEPD
* 2017 AND 2018 CAPEX GUIDANCE INCREASED TO APPROXIMATELY
$133 AND
$140 MILLION, RESPECTIVELY
* Q4 2017 PRODUCTION GUIDANCE REVISED TO 8,775-8,825 BOEPD
* Q1 2018 PRODUCTION GUIDANCE OF 10,000-11,000 BOEPD
* ABRAXAS IS ALSO ADJUSTING COMPANY'S Q4 CAPEX GUIDANCE TO
$43
MILLION FROM $30 MILLION
* FORECAST CASH FLOW FROM OPERATIONS AND BALANCE SHEET WILL
BE
SUFFICIENT TO FUND CAPITAL PROGRAM FOR 2018 AND BEYOND
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