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San Antonio-based Abraxas well in West Texas is gushing oil and gas

September 27, 2012

The well, drilled horizontally to 9,850 feet, is currently producing 828 barrels of oil per day and 734,000 cubic feet of natural gas, according to the company.

“We are extremely encouraged with these well results as they validate our aggressive capital program to develop new oil reserves and production,” Abraxas CEO Bob Watson says. “In West Texas, the Spires well was a step out from our own previous production and indicates a sizable area of higher pressure reservoir may be located under our 5,800-acre Spires Ranch lease.”

SABJ link