Overview
Abraxas Petroleum Corporation (Abraxas) primarily engaged in the acquisition, exploration, exploitation, development and production of oil and gas in the US. In 2022, an estimated net proved reserves were 7.9 MMBoe, about 40% were oil and more than 90% of which (on a Boe basis) were operated by the company. Its daily net production in 2022 was 2,231 Boepd, of which about 50%, on a BOE basis, was oil. The company's oil and gas assets are located primarily
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Read More in two operating regions in the US: the Rocky Mountains and Permian/Delaware Basin. Raven Drilling is a wholly-owned subsidiary of the company.
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Read More in two operating regions in the US: the Rocky Mountains and Permian/Delaware Basin. Raven Drilling is a wholly-owned subsidiary of the company.
Read Less
Robert L G Watson
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Oil and Gas Extraction
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Mining, Quarrying, and Oil and Gas Extraction
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Crude petroleum production
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Modelled
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Actual
$49.74 million
Actual
-36.93%
$70
DEC
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OTC:AXAS
Contacts
Get in Touch with 5 Principals* and 42 Contacts
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Robert L G WatsonChairman of the Board and President and Chief Executive Officer
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Contact 2?
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Contact 3?
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Contact 4?
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Financial Statements
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Financial data as of December 31, 2022 (12 month period) in USD
Annual Revenue 2022
$49.74 million
USD
Actual
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Net Operating Cash | $20 | $32 | $16 |
| Net Investing Cash | $51 | -$1 | -$13 |
| Net Financing Cash | -$79 | -$25 | -$1 |
| Net Change in Cash | -$7 | $7 | $3 |
| Cash at Beginning of Period | $10 | $3 | $ |
| Cash at End of Period | $3 | $10 | $3 |
| Capital Expenditure | -$2 | -$1 | -$13 |
| Assets (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $3 | $10 | $3 |
| Accounts Receivable | $5 | $13 | $10 |
| Inventories | $ | $ | $ |
| Other Current Assets | $3 | $1 | $11 |
| Asset Summary | |||
| Total Current Assets | $11 | $24 | $24 |
| Tangible Fixed Assets | $44 | $106 | $123 |
| Intangible Assets | $ | $ | $ |
| Total Assets | $71 | $130 | $158 |
| Liabilities (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $4 | $5 | $6 |
| Short-Term Debt | $ | $213 | $203 |
| Other Current Liabilities | $2 | $23 | $10 |
| Liability Summary | |||
| Total Current Liabilities | $6 | $240 | $219 |
| Long-Term Debt | $ | $2 | $4 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $9 | $247 | $231 |
| Stakeholder's Equity (mil) | 2022 | 2021 | 2020 |
|---|---|---|---|
| Equity | |||
| Common Stock | $1 | $0 | $0 |
| Retained Earnings | -$510 | -$547 | -$503 |
| Equity Summary | |||
| Total Equity | $61 | -$117 | -$73 |
| Shares Outstanding | 100,701,430 | 8,421,910 | 8,421,910 |