Wunderlich Securities Says Abraxas Petroleum to Become More Streamlined in 2012

In a research report released today, Wunderlich Securities expects Abraxas Petroleum AXAS to end the year with lower debt and a focused asset base. “Abraxas Petroleum (AXAS) is on track to become more streamlined in 2012. We have some visibility on divestitures in 2012: first to go will be the 2,880 acres in the Delaware Basin, followed by the South Texas Eagle Ford assets and the Canadian Pekisko Fairway oil project,” Wunderlich Securities said in the report. Wunderlich Securities maintains its Buy rating and $7 PT on Abraxas Petroleum, which closed Friday at $3.87.