Abraxas Petroleum Corporation
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Stephen T. Wendel
- Full Time Employees
- 18
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 18803 Meisner Drive San Antonio TX United States of America 78258
- IPO Date
- May 7, 1991
- CIK
- 0000867665
- Website
- abraxaspetroleum.com
- Similar Companies
- Business
- Abraxas Petroleum Corporation, a subsidiary of Biglari Holdings Inc., engages in the acquisition, exploration, development, and production of oil and natural gas properties primarily in the United States; its core assets include oil and gas reserves in the Permian/Delaware Basin region of West Texas, encompassing Ward and Winkler Counties, with production from the Bone Spring and Wolfcamp formations, as well as select properties in the Rocky Mountain region featuring the Bakken, Three Forks, and Red River formations. The company, founded in 1977 and headquartered in San Antonio, Texas, focuses on conventional and unconventional resources, generating the majority of its revenue from oil sales to customers in the energy sector across Texas, Wyoming, and Montana. In recent developments, Abraxas completed a comprehensive restructuring in early 2022 by selling its Williston Basin assets for $87.2 million to eliminate first-lien debt and converting second-lien debt into Series A Preferred Stock, transforming into a pure-play Delaware Basin operator; Biglari Holdings acquired control through the purchase of these preferred shares for $80 million in September 2022, later acquiring the remaining 10% minority interest in 2023, while in late 2023, Abraxas entered a purchase and royalty agreement with a third party for exploration and development on its Delaware Basin properties, enhancing undeveloped reserves.
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