Abraxas Petroleum Corp (AXAS) Files Form 4 Insider Buying : Edward Russell Buys 4,000 Shares

Abraxas Petroleum Corp (AXAS): Edward Russell , director of Abraxas Petroleum Corp purchased 4,000 shares on Jun 1, 2016. The Insider buying transaction was reported by the company on Jun 2, 2016 to the Securities and Exchange Commission. The shares were purchased at $1.08 per share for a total value of $4,320.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Mar 28, 2016, Peter A. Bommer (VP – Engineering) purchased 8,138 shares at $1.14 per share price.On Aug 25, 2015, George William Jr Krog (Chief Accounting Officer) purchased 10,000 shares at $1.56 per share price.Also, On Aug 10, 2015, Stephen T Wendel (VP – Land and Contracts) purchased 30,000 shares at $1.86 per share price.On Aug 10, 2015, Brian L Melton (director) purchased 3,000 shares at $1.72 per share price.

Abraxas Petroleum Corp.: On Wednesday, Jun 1, 2016 heightened volatility was witnessed in Abraxas Petroleum Corp. which led to swings in the share price. The shares opened for trading at $1.12 and hit $1.2 on the upside , eventually ending the session at $1.18, with a gain of 4.42% or 0.05 points. The heightened volatility saw the trading volume jump to 21,86,520 shares. The 52-week high of the share price is $3.19 and the company has a market cap of $126 M . The 52-week low of the share price is at $0.65.

Abraxas Petroleum Corp. Money Flow Index Chart

Abraxas Petroleum Corporation is an independent energy company. The Company is primarily engaged in the acquisition exploration development and production of oil and gas. As of December 31 2014 the Company’s estimated net proved reserves were 42.4 million barrels of oil equivalent (MMBoe) of which 42% were classified as proved developed 78% were oil and natural gas liquids (NGL) and 92% of which (on a PV-10 basis) were operated by the Company. The Company’s daily net production for the year ended December 31 2014 was 5720 barrels of oil equivalent per day (Boepd) of which 77% was oil or liquids. The Company’s oil and gas assets are located in three operating regions the Rocky Mountain Permian Basin and onshore Gulf Coast.

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