It does not include additional wells brought into production since then, which would account for 73% of projected actual 2015 volumes, thus accounting for the difference in hedging calculations.
Breakeven would be $52 per barrel in 2016 and $56 per barrel in 2017 based on existing hedges, Cheap Youth Cheap Nike Berry Cheap Limited Graveman Kids Jerseys Orioles Jerseys Wood Braves Jerseys steady state production and $60 million in Super Bowl Kid Jersey capital expenditures.
Unhedged breakeven point is $59 per barrel if Abraxas wants to maintain production levels.
Debt has been reduced significantly since last year and appears quite manageable given Abraxas's reduced capital expenditure budget.
$85 per Cheap Nike Hairston Nationals Jerseys barrel oil would result in around $55 million in free cash flow in 2015, and would likely allow for a significant expansion in its capital budget.
Oil demand is likely to increase with prices Cheap Braves Avilan Youth Jerseys at these levels, Cheap Nike Locke Youth Jerseys plus, the 5 year futures curve is predicting Cheap Nike Cruz Limited Jerseys $80 oil.
If you seek real opportunities and bargains now, the small cap oil stocks are the place to be, not the major integrated oils like Chevron which is not down much.
Emotional, fear based Cheap Nike Parra Authentic Jerseys New Orleans Saints Jersey selling, forced margin call selling and tax loss selling pressure has temporarily and unfairly punished many smaller Cheap Limited Brach Nike Jerseys oil stocks.
Abraxas Petroleum has been pushed down to just about 5 times earnings and it is hedged around 80% of its production for the next two years at about $85.
This $2.40 stock could be poised for a very significant rally into year end as bargain hunters take notice and as tax loss selling fades and shorts cover.
Abraxas Petroleum has performed impressively in a weak oil pricing environment, which is an indicator of better things to come Cheap Ross Jerseys as oil prices are expected to improve in the long.
Abraxas is Cheap Game Longoria Rays Jerseys currently focusing on improving its production capability, a move that will allow it to report strong results when oil prices improve.
Abraxas is also controlling costs by delaying projects until pricing improves, and Cheap Dodgers Bernadina Game Jerseys this is a smart move.
Abraxas might see some weakness in the short run due to oil industry conditions, but the long term prospects are bright.
The global economic recovery and national spending around the world are dependent on oil prices stabilizing.
Oil prices are likely to remain in the $75 $90 range for much of 2015. Abraxas' ROI at $75/barrel is 10% 25% in the Eagle learn here Ford.
Strong financial growth and good management provide bright outlook. Q3 results: Cheap Limited Pomeranz Youth Jerseys 48% y/y increase in production, 52% y/y increase in revenues, and Cheap Nike Barneyodgers Jerseys 75% y/y increase in Cheap Limited Pierzynski Red Sox Jerseys EBITDA.
Abraxas has a current P/E of 10 and forward P/E of 6. Also, Abraxas has the lowest forward and trailing P/E of Bakken and Eagle Ford producers.
AXAS has recently undergone a transformation as the company has Cheap Kids McKenry Elite Jerseys disposed of non core assets and has cleaned up its balance sheet over the last Cheap Game Crockett Nike Jerseys several years.
Recent management presentation leads us to believe that AXAS has potentially found a "sweet spot" in the Eagle Ford Shale.
Guidance for 2014 production leads us to believe that the company will enter 2015 producing at least 6,000 cheap jerseys barrels per day, with potential upside from Eagle Ford expansion.
Management's implied guidance for production and debt levels leads us to believe that 2015 EBITDA will come in at about $90MM, with potential upside in the future.
A Soccer Club normalized valuation plus non core assets would give the company a price target of $6, but potential upside leads us to believe Cheap Elite Crisp Nike Jerseys that's the company could be valued at $8.
Abraxas turns sharply higher despite budget cuts, Cheap Limited Caminero Womens Jerseys lower production outlook
Abraxas Petroleum (AXAS +7.4%), down as much as 12% in premarket trading, has since powered higher Cheap Harrell Nike Jerseys after reporting that it plans to cut its 2015 drilling budget while expecting reduced Cheap Twins Arcia Limited Jerseys Cheap Youth Germano Rangers Jerseys Q4 production volumes. Baird downgrades shares to Neutral from Outperform with a $3 price target, down from www.ahold.com $6, saying the reduced production guidance on operational Cheap Nike Benoit Elite Jerseys constraints ends the major sustained internal momentum that formed a cornerstone of its bullish thesis; while upside potential appears dashed for now, a strong Cheap Maxwell Elite Jerseys balance sheet offers Memphis Tigers Jersey downside protection, the Buffalo Sabres Jersey firm says.