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Abraxas Provides Divestiture Update

Source: www.gulfoilandgas.com 12/19/2012, Location: North America

Abraxas Petroleum Corporation is pleased to provide the following divestiture update.

Nordheim Closing
Abraxas recently closed the previously announced divestiture of the Company's Nordheim Eagleford assets for net proceeds of $18.8mm after accounting for purchase price adjustments.

Bob Watson, President and CEO of Abraxas, commented, "We are very enthused by our continued execution on the A&D front with the closing of the Nordheim divestiture. Abraxas now enters 2013 poised for strong growth, a leaner balance sheet and an enviable asset base."

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