1.
Teen solves centuries-old math problem
SAN ANTONIO, Dec. 12 (UPI) -- Abraxas Petroleum Corp. announced it has purchased oil and gas properties in the United States worth $140 million from St. Mary Land & Exploration Co.
The acquisition by the subsidiary of Abraxas Energy Partners L.P. is subject to closing conditions and purchase price adjustments and is expected to close during the first quarter of 2008.
The properties are in the Rocky Mountains and Mid-Continent regions of the United States, and include about 1,500 wells and estimated reserves of about 10,250 million barrels of oil.
"We are quite pleased to announce Abraxas Energy's first acquisition since its formation. As a result of the acquisition, our percentage of proved developed producing reserves, percentage of oil production, and our R/P ratio will increase significantly and complement our existing asset base with a more diverse, stable long-lived production profile. We expect the acquisition to be immediately accredited to distributable cash flow per unit," said Bob Watson, president and chief executive officer.
|
|
|
|
|
|
| Additional Energy Resources Stories | |
WASHINGTON, May 25 (UPI) --
The U.S. government called on an oil-spill response company to conduct a live drill in the Gulf of Mexico to test its capabilities, the interior secretary said.
|
MONROVIA, Calif., May 25 (UPI) --
Unmanned aerial vehicle manufacturer AeroVironment will demonstrate the use of its products for post-disaster U.S. government communications.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
The photos are familiar, but the captions are not, as economic tension skips across the continent of Europe.
|
| Stories | Photos | People | Comments |
View Caption
