Abraxas Petroleum Corporation is pleased to provide 2014 guidance.
Abraxas’ Board of Directors recently approved a 2014 capital budget of $105 million. In the Bakken, the company will maintain its one rig continuous drilling program resulting in the drilling of 7.2 and completion of 6.4 net wells. In the Eagle Ford, the company will complete one well on its Cave prospect in McMullen County and drill and complete five net wells on its Jourdanton prospect in Atascosa County. Approximately $10 million is budgeted to be spent acquiring additional leasehold in Abraxas’ core areas, the Bakken and Eagle Ford.
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