January 30, 2018 / 11:53 PM / 8 months ago

BRIEF-Abraxas Provides Operational, Acquisition And Guidance Update

Jan 30 (Reuters) - Abraxas Petroleum Corp:

* ABRAXAS PROVIDES OPERATIONAL, ACQUISITION AND GUIDANCE UPDATE

* ‍JANUARY TO DATE PRODUCTION AVERAGING APPROXIMATELY 11,400 BOEPD, IN EXCESS OF PLANNED EXIT RATE OF 10,750 BOEPD​

* 2017 AND 2018 CAPEX GUIDANCE INCREASED TO APPROXIMATELY $133 AND $140 MILLION, RESPECTIVELY

* Q4 2017 PRODUCTION GUIDANCE REVISED TO 8,775-8,825 BOEPD

* Q1 2018 PRODUCTION GUIDANCE OF 10,000-11,000 BOEPD

* ‍ABRAXAS IS ALSO ADJUSTING COMPANY’S Q4 CAPEX GUIDANCE TO $43 MILLION FROM $30 MILLION​

* FORECAST CASH FLOW FROM OPERATIONS AND BALANCE SHEET WILL BE SUFFICIENT TO FUND CAPITAL PROGRAM FOR 2018 AND BEYOND Source text for Eikon: Further company coverage:

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