Abraxas Petroleum Corporation announced that it has received approval on two of its drilling permits in Brooks Draw, Wyoming.
Abraxas anticipates receiving approval on three additional permits during the third quarter of 2008. A rig has been scheduled for mid-August and initial plans are to drill one well at a time with evaluation periods in-between. [...]

Abraxas Petroleum Corp. reported results for 2007 Tuesday, saying its net income rose to $56.7 million, or $1.22 a share, compared with net income of $700,000, or 2 cents a share, for 2006.
The company said the results consolidate income from the limited partnership it formed last year — Abraxas Energy Partners LP. Abraxas said [...]

Pilgrim Petroleum Corporation has entered into an RFP for Participation in Exploration, Development and Operations of Oil and Gas Interests owned by The University of Texas. University Lands in Midland, Texas, manages the 2.1 million acres of Permanent University Fund Lands in West Texas. Currently oil and gas rights are leased via a sealed bid [...]

Abraxas Petroleum Corporation announced year-end 2006 reserves, provided an operational update and presentation details for the upcoming Independent Petroleum Association of America’s (”IPAA”) Small Cap Oil & Gas Investment Symposium to be held February 6-8, 2007 in Boca Raton, Florida.
Abraxas’ independent reservoir engineering firm, DeGolyer and MacNaughton, estimated total proved oil and natural gas [...]

Abraxas Petroleum Corp.’s fields produced 7.7 billion cubic feet equivalent of oil and natural gas in 2006.
This is a 26 percent increase over the 6.1 billion cubic feet equivalent produced in 2005.
The company’s year-end oil and natural gas reserves stood at 99 billion cubic feet equivalent as of Dec. 31, 2006, a 6 percent decrease [...]

Abraxas Petroleum has closed on the sale of certain non-core assets located in South Texas for a total consideration of $12 million, subject to closing adjustments. The effective date of the sale was August 1, 2006.
The non-core assets were located in the Three Rivers (Edwards) Field of Live Oak County, Texas and represented less than [...]