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 and Delaware Basin of West Texas with net proved reserves of more than 65 billion cu. ft., of which about 90% are gas. Formed by Abraxas Petroleum in 2007, the company owns a working interest of about 80% in more than 100 producing wells. Abraxas Petroleum operates more than 90% 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.
