Abraxas Energy Partners Company Description
Abraxas Energy Partners has its eyes set on black gold deep in the heart of Texas. The company focuses on crude oil and natural gas exploration, development, and production. Abraxas Energy Partners owns properties primarily in the Gulf Coast Basin of South Texas, the Delaware Basin of West Texas, and in the Rockies, with net proved reserves of more than 130.2 billion cu. ft. (70% natural gas). Formed by Abraxas Petroleum in 2007, the company owns a stakes in more 1,570 gross (300 net) producing wells. Abraxas Petroleum operates more than 70% of its properties. The company plans to use IPO funds to pay off debt, as well as to acquire and develop additional properties.
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The Company Description provides a historical perspective of Abraxas Energy Partners's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Abraxas Energy Partners's evolution in the marketplace.
