Abraxas Petroleum Corporation (AXAS)

Abraxas Petroleum Corporation (NASDAQ: AXAS) is a publicly traded independent exploration and production company founded in 1977 and based in San Antonio, Texas.

The company last reported:
---Production of 614 MBoe (6,822 Boepd) Targeting Y/E 8,000 Boepd
---Revenue of $18.8 million
---Net income of $13.7 million, or $0.09 per share
---Adjusted net income(a) (excluding certain non-cash items) of $4.9 million, or $0.03 per share
---EBITDA(a) of $11.7 million
--Adjusted EBITDA per bank loan covenants of $15.5 million(a)

Abraxas' business model focuses on assets with:

--High working interest
--Operational & infrastructure control
--Low geologic risk
--Strong full cycle ROR
--Low risk exploitable upside using the company's proven operating expertise
--Abraxas focuses primarily on the development of conventional and unconventional resources in its primary operating areas in the Rocky Mountains, South Texas, Powder River Basin and Permian Basin.

--Williston Bakken Three Forks
--Powder River Basin (Turner)
--Midland/Eastern Shelf (Coventional & Emerging Oil Play
--EagleFord Shale
--Delaware Basin (Montoya, Delaware, Mississippian, Shallow; Emerging HZ Oil;