10 Aug 2016quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $14.0 million and a net loss of $3.3 million for the period ended 2016-09-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Aug 2016quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $14.0 million and a net loss of $3.3 million for the period ended 2016-09-30.
2 Aug 2016other▼ Bad
An investor presentation showing how far the downturn had cut into the company: 89 staff, 135 million shares, a $153 million market value against $98 million of net debt, and 2016 spending cut to $40 million from the $55 million planned a year earlier. Drilling had narrowed to the Bakken rig it owns through its Raven Drilling subsidiary.
1 Aug 2016securities registration● Neutral
ABRAXAS PETROLEUM CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
20 July 2016securities registration● Neutral
ABRAXAS PETROLEUM CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
20 July 2016business combination● Neutral
Abraxas filed Amendment No. 1 to its June 30 2016 acquisition shelf (S-4), still covering up to 25,000,000 shares that could be issued in future acquisitions. The last reported price was $1.22 on July 19, 2016, up from $1.09 used in the original filing. No acquisition or counterparty is named and the company expects no cash proceeds; any shares actually issued would dilute holders, but nothing has been agreed.
30 June 2016securities registration● Neutral
ABRAXAS PETROLEUM CORP registered a securities offering with the SEC using its shelf eligibility.
30 June 2016business combination● Neutral
On June 30, 2016 Abraxas filed an S-4 shelf registering up to 25,000,000 common shares it may issue in future acquisitions of assets, businesses or securities, at negotiated prices. No acquisition or counterparty is named, and no cash proceeds are expected; the last reported price was $1.09 on June 28, 2016. Any shares actually issued would dilute existing holders, but nothing has been agreed.
2 June 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Edward Russell bought 4,000 shares on the open market at $1.08.
23 May 2016securities registration● Neutral
ABRAXAS PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
23 May 2016material agreement▼ BadMajor
On May 19, 2016 Abraxas sold 25,000,000 new shares at $1.00 each through underwriters led by Johnson Rice and Canaccord Genuity, with a 30-day option for up to 3,750,000 more. Net proceeds of about $23.5 million are for repaying credit facility debt, expanding the 2016 drilling budget to the full $40.0 million and general purposes including acquisitions. This is well below the $5.00 price of the June 2014 offering, and existing shareholders are diluted.
19 May 2016securities registration● Neutral
ABRAXAS PETROLEUM CORP filed a prospectus supplement for an offering off its existing shelf.
17 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Dennis E Logue was credited 25,000 deferred share units under a company plan.
17 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Ralph Cox was credited 25,000 deferred share units under a company plan.
17 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Edward Russell was credited 25,000 deferred share units under a company plan.
17 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director W. Dean Karrash was credited 25,000 deferred share units under a company plan.
17 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Brian L Melton was credited 25,000 deferred share units under a company plan.
17 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Jerry J Langdon was credited 25,000 deferred share units under a company plan.
17 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Paul A Powell was credited 25,000 deferred share units under a company plan.
16 May 2016director interest notice● Neutral
ABRAXAS PETROLEUM CORP director Harold D Carter was credited 25,000 deferred share units under a company plan.
11 May 2016quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $11.0 million and a net loss of $46.9 million for the period ended 2016-06-30.
10 May 2016quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $11.0 million and a net loss of $46.9 million for the period ended 2016-06-30.
10 May 2016agm 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).
21 Apr 2016debt financing▼ BadMajor
On April 20, 2016 Abraxas amended its Société Générale credit facility: the borrowing base is $130.0 million from April 1, 2016, dropping automatically to $120.0 million on October 1, 2016 unless redetermined earlier (down from $162.5 million set in June 2014). Tougher terms include using 100% of property-sale proceeds and cash above $10.0 million to repay the facility, and giving lenders security over at least 90% of proven reserves PV-10 plus the headquarters building and two ranches. Hedges for April-October 2016 were monetized for about $10 million and replaced with about 1,948 barrels a day at $39.04; $124.0 million was outstanding on April 20, 2016.
6 Apr 2016agm 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 2016quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $9.6 million and a net loss of $40.9 million for the period ended 2016-03-31.
1 Feb 2016substantial holder notice● Neutral
The Lion Fund, L.P, Biglari Capital Corp, Sardar Biglari disclosed a new substantial ABRAXAS PETROLEUM CORP shareholding (5.30% of votes).
25 Jan 2016substantial holder notice● Neutral
BlackRock, Inc reported a ABRAXAS PETROLEUM CORP shareholding of 6,196,968 shares (5.80% of votes) in a periodic institutional filing.
6 Nov 2015quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $13.3 million and a net loss of $3.3 million for the period ended 2015-12-31.
4 Nov 2015quarterly activities report▼ Bad
ABRAXAS PETROLEUM CORP reported quarterly revenue of $13.3 million and a net loss of $3.3 million for the period ended 2015-12-31.