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Abraxas Petroleum Closes Divestiture of Nordheim Eagleford Assets, Received $18.8M in Net Proceeds

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Abraxas Petroleum Corporation (NASDAQ: AXAS) 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.”

Posted-In: News Asset Sales

 

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