Past year: ▼ 95%(3.00c – 1.85 USD)
Each one in plain English, with the numbers worked through for a shareholder.
24 May 2017material agreement● NeutralMajor
On May 23, 2017 Abraxas signed an agreement to buy 2,008 net acres and 33 Boepd in Ward County, Texas, prospective for Wolfcamp/Bone Spring, for $20.8 million, with closing scheduled for July 2017. This is the first acquisition after the 25,000,000-share acquisition shelf of 2016; the filing does not say how it will be paid for.
17 May 2017debt financing● NeutralMajor
On May 16, 2017 Abraxas signed Amendment No. 3 to its Société Générale credit facility, extending maturity from June 2018 to May 11, 2021 and setting a borrowing base of $115.0 million from April 1, 2017. The maximum debt-to-EBITDAX covenant is now 3.50 (previously 4.00); current ratio and interest coverage minimums are unchanged at 1.00 and 2.50. The filing states the company has no substantial unpledged assets and may lack the means to make mandatory payments if borrowings exceed the base.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Ralph Cox was credited 25,000 deferred share units under a company plan.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Brian L Melton was credited 25,000 deferred share units under a company plan.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Harold D Carter was credited 25,000 deferred share units under a company plan.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Edward Russell was credited 25,000 deferred share units under a company plan.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Jerry J Langdon was credited 25,000 deferred share units under a company plan.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Dennis E Logue was credited 25,000 deferred share units under a company plan.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director W. Dean Karrash was credited 25,000 deferred share units under a company plan.
11 May 2017director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Paul A Powell was credited 25,000 deferred share units under a company plan.
10 May 2017quarterly activities report● Neutral
ABRAXAS PETROLEUM CORP reported quarterly revenue of $13.2 million and net income of $7.2 million for the period ended 2017-06-30.
10 May 2017agm notice● Neutral
ABRAXAS PETROLEUM CORP announced its upcoming annual shareholder meeting, covering the routine agenda (director elections, auditor ratification, executive-pay advisory vote).
10 May 2017quarterly activities report● Neutral
ABRAXAS PETROLEUM CORP reported quarterly revenue of $13.2 million and net income of $7.2 million for the period ended 2017-06-30.
3 Apr 2017agm notice● Neutral
ABRAXAS PETROLEUM CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
16 Mar 2017agm notice● Neutral
ABRAXAS PETROLEUM CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
15 Mar 2017quarterly activities report● Neutral
ABRAXAS PETROLEUM CORP reported quarterly revenue of $18.8 million and net income of $13.7 million for the period ended 2017-03-31.
16 Feb 2017production update● Neutral
Abraxas filed a short notice that it issued a news release on February 15, 2017 with a reserve and operational update. The release itself is an exhibit and its figures are not in the filing text, so no results can be stated here.
8 Feb 2017substantial holder notice● Neutral
The Lion Fund, L.P, Biglari Capital Corp, Sardar Biglari reported no remaining ABRAXAS PETROLEUM CORP shareholding in its periodic institutional filing.
20 Jan 2017material agreement● NeutralMajor
On January 19, 2017 Abraxas agreed to sell 25,000,000 new shares at $2.40 through underwriters led by Seaport Global Securities, with a 30-day option for up to 3,750,000 more. Net proceeds of about $56.8 million are to repay the credit facility first, then fund an expanded drilling budget of about $110.0 million; the company expects about $93.4 million of available borrowing capacity afterwards. This is a higher price than the $1.00 offering of May 2016, but existing shareholders are diluted again.
20 Jan 2017securities registration● Neutral
ABRAXAS PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
19 Jan 2017securities registration● Neutral
ABRAXAS PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
19 Jan 2017quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $22.0 million and a net loss of $5.3 million for the period ended 2016-12-31.
19 Jan 2017substantial holder notice● Neutral
BlackRock, Inc reported a ABRAXAS PETROLEUM CORP shareholding of 8,549,550 shares (6.30% of votes) in a periodic institutional filing.
9 Nov 2016quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $22.0 million and a net loss of $5.3 million for the period ended 2016-12-31.
9 Nov 2016quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $22.0 million and a net loss of $5.3 million for the period ended 2016-12-31.
11 Oct 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP insider Lee T Billingsley sold 50,000 shares at $1.59.
3 Oct 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP insider Lee T Billingsley sold 100,000 shares.
26 Sept 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP Former VP - Exploration Lee T Billingsley exercised stock options for 50,000 shares and disposed of 148,362 shares.
20 Sept 2016material agreement● NeutralMajor
On September 20, 2016 Abraxas completed the sale of its Portilla field in San Patricio County, Texas (about 2,074 net mineral acres, 0.8 million barrels of proved reserves per the Dec 31 2015 internal report) to Frostwood Energy, LLC for net proceeds of about $13.0 million. The company plans to use the proceeds to immediately repay its credit facility, consistent with the 2016 amendment that directs property-sale proceeds to the bank debt.
11 Aug 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP VP - CFO Geoffrey R. King was credited 100,000 deferred share units under a company plan.
