Abraxas Petroleum Corporation provided the following operational, production and guidance update.
At Abraxas’ Jourdanton prospect in Atascosa County, Texas, the Company successfully completed the Ribeye 1H and Ribeye 2H with a combined 49 frac stages. After drill out, the wells will be placed on production and thirty day rates will be provided when available. Following the drilling of the Dutch 3H and Dutch 4H, Abraxas will mobilize the rig to the Cat Eye 1H, which represents the first well on the Company’s southern fault block. Abraxas owns a 100% working interest across the Jourdanton prospect.
At Abraxas’ Cave prospect, in McMullen County, Texas, the Dutch 1H averaged 786 boepd (669 barrels of oil per day, 700 mcf of natural gas per day) (1) over the well’s first 30 full days of production. The Company successfully mobilized the drilling rig to the Dutch 3H and Dutch 4H pad where it is currently drilling the Dutch 3H at 12,538 feet. Abraxas holds a 100% working interest in the Dutch 1H, 2H, 3H and 4H.
At Abraxas’ Dilworth East prospect, in McMullen County, Texas, the R. Henry 2H averaged 780 boepd (515 barrels of oil per day, 1,586 mcf of natural gas per day) (1) over the well’s first 30 full days of production. Abraxas holds a 100% working interest in the R. Henry 2H.
At Abraxas’ North Fork prospect, in McKenzie County, North Dakota, the Company completed the Ravin 5H, 6H and 7H with a combined 99 frac stages. The Ravin 4H was completed with seven stages before encountering mechanical issues. As a precaution, the Company elected to pull the 4 ½ inch tie back string, polished bore receptacle and seal assembly before resuming the fracture stimulation of the well. It is anticipated the Company will resume the completion of the Ravin 4H and turn the well to sales by late September. The Ravin 5H, 6H and 7H, which will test 660 foot spacing in the Middle Bakken, are expected to begin flowback shortly. Abraxas recently set surface casing on the Stenehjem 2H, 3H and 4H. The Company also set intermediate casing on the Stenehjem 4H and is currently drilling the intermediate section of the Stenehjem 3H at 10,243 feet. The three wellbores will be 660 feet apart in their respective formations. Abraxas owns a working interest of approximately 51% and 73% in the Ravin West and Stenehjem wells, respectively.