Abraxas Announces Approval of Wyoming Drilling Permits
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. The wells will be drilled horizontally into the Mowry Shale and/or the Turner Sandstone. Abraxas owns a 100% working interest in each of these wells.
“After a very lengthy permitting process, we are finally able to move forward in Wyoming. We will be very active operationally during the second half of 2008. Currently, we are drilling below 9,000’ on the Nordheim #2H well in South Texas and we are in the completion process on the Beulah Coleman #13 well in West Texas,” commented Bob Watson, President and CEO.
Abraxas Petroleum Corporation is a San Antonio based crude oil and natural gas exploration and production company with operations principally in Texas and Wyoming. Abraxas Petroleum Corporation also owns a 47% interest in an upstream master limited partnership, Abraxas Energy Partners, L.P., which entitles Abraxas Petroleum Corporation to receive its proportionate share of cash distributions made by Abraxas Energy Partners, L.P.
Contact:
Abraxas Petroleum Corporation, San Antonio Barbara M. Stuckey, 210-757-9835 Vice President – Corporate Development Main Telephone: 210-490-4788 bstuckey@abraxaspetroleum.com
www.abraxaspetroleum.com
Source: Abraxas Petroleum Corporation
