All of the Company’s properties are located in the Delaware Basin of West Texas and the Gulf Coast Basin of South Texas. These properties are located in mature fields that exhibit relatively long-lived production with relatively predictable decline rates.
The majority of the Company’s properties were discovered by Abraxas Petroleum during the past decade or by major oil companies 40 to 50 years ago, some of which have been subsequently redeveloped by Abraxas Petroleum.
The Company’s West Texas operations are concentrated in the deep gas producing formations (Devonian, Montoya and Ellenburger) and the shallower oil producing sandstones (Bell and Cherry Canyon) of the Delaware Basin in Ward, Pecos and Reeves Counties.
At March 31, 2007, the Company owned interests in 67 gross (48 net) producing wells in West Texas. These wells produce oil and gas from multiple stacked formations at depths ranging from 5,000 to 16,000 feet.
The Company’s South Texas operations are located in the Gulf Coast Basin and concentrated along the Edwards Trend in DeWitt and Lavaca Counties and the Frio and Vicksburg formations in the Portilla field in San Patricio County.
At March 31, 2007, the Company owned interests in 37 gross (36 net) wells in South Texas. These wells produce oil and gas from formations at depths ranging from 7,000 to 13,500 feet.
- Avoid 
- Value Gap 
- Short-Term Growth
- Long-Term Growth 
- Long-Term Value 
