Abraxas Petroleum Corporation is pleased to provide the following divestiture update.
Nordheim Closing
Abraxas recently closed the previously announced divestiture of the Company's Nordheim Eagleford assets for net proceeds of $18.8mm after accounting for purchase price adjustments.
Bob Watson, President and CEO of Abraxas, commented, "We are very enthused by our continued execution on the A&D front with the closing of the Nordheim divestiture. Abraxas now enters 2013 poised for strong growth, a leaner balance sheet and an enviable asset base."
