Abraxas Stitches On Low-Priced Delaware Basin Acreage

摘要

Abraxas Petroleum Corp. (NASDAQ: AXAS) will bolt on Delaware Basin acreage in Ward County, Texas, prospective for the Bone Spring and Wolfcamp—increasing its position by more than onethird, the company said May 23. Abraxas, based in San Antonio, Texas, agreed to pay $22.2 million for 2,008 net mineral acres and average production of 33 barrels of oil equivalent. The company said the acreage will add 25 net operated potential locations and eight net nonoperated potential locations.