Brief: Abraxas updates 2017 capex and production guidance
19/01/2017 21:01
Jan 19 (Reuters) - Abraxas Petroleum Corp AXAS.O -
* Abraxas announces acceleration of 2017 planned activity;
updates capex and production guidance
* Says board of directors recently approved an increase in
Abraxas' 2017 capital budget from $60 million to $110 million
* Forecasts increase in activity will lead to average
production of 8,200 boepd at midpoint of updated 2017 guidance
* Expects to fund this increase in its capital budget
through cash on hand, availability under its credit facility
* Sees 2017 exit rate of approximately 9,500 Boepd
* Forecasts average production of 8,200 boepd at midpoint of
updated 2017 guidance with a 2017 exit rate of about 9,500 boepd
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