Brief: Abraxas says Production for the Q4 2015 is expected to average approximately 5,841 boepd

Abraxas Petroleum

29/02/2016 21:45

Feb 29 (Reuters) - Abraxas Petroleum Corp  AXAS.O : 
 * Provides operational, a&d and reserve update 
 * Production for the fourth quarter of 2015 is expected to average 
   approximately 5,841 boepd 
 * Expects to record a non-cash, pre-tax ceiling test impairment charge of 
   approximately $68.7 million in the fourth quarter of 2015 
 * As of December 31, proved oil and natural gas reserves consisted of 
   approximately 43.2 mmboe, a net increase of 0.8 mmboe 
 * Experienced greater than anticipated downtime related to fracture stimulation 
   of stenehjem 5h, sten rav 1h and ravin 8h 
 * January 2016 production averaged an estimated 6,000 boepd with an average of 
   approximately 358 boepd curtailed or shut in for remediation 
 
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