Abraxas Petroleum Company Description
Abraxas is a mythical Gnostic symbol that represents the number 365 in Greek, and Abraxas Petroleum is working hard as a 365-day-a-year oil and gas company. The independent energy company is engaged in natural gas and crude oil exploration, development, and production. It operates primarily in Texas (along the Gulf Coast and in the Permian Basin) and in Wyoming, and in 2007 it reported estimated proved reserves of 106.8 billion cu. ft. of natural gas equivalent. Abraxas Petroleum also owns interests in 104,205 gross acres (80,281 net acres) primarily in mature fields. The company holds a 46% stake in operating unit Abraxas Energy Partners, L.P.
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The Company Description provides a historical perspective of Abraxas Petroleum'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 Petroleum's evolution in the marketplace.
