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Private company

ABRAXAS PETROLEUM CORP

American crude petroleum and natural gas company based in San Antonio2

In its 2023 annual report the company says: “We are an independent energy company primarily engaged in the development and production of oil and gas. Our daily net production for the year ended December 31, 2022 was 2,231 Boepd, of which 51%, on a BOE basis, was oil. Our oil and gas assets were located in the Permian/Delaware Basin as of December 31, 2022.”61

Last updated Oct 21, 2026.

Overview

  • IndustryCrude Petroleum & Natural Gas2
  • HeadquartersSan Antonio, United States2
  • Incorporated inNV3
  • Business address18803 Meisner Drive, San Antonio, Tx 782583
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formProfit Corporation2
  • LEIMZ7PUO5D10MMXGVVPY362
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company of Nevada, 89703 Carson City, United States2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

31.5%Operating margin4
75.1%Net margin4
-36.9%Revenue growth, 20224
61.1%Return on equity4
0.00×Debt to equity4

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs25¢$12.4M
  • Profit75¢$37.3M

Out of $49.7M in revenue.4

Where each dollar of operating cash went, fiscal 2022

  • Kept or used elsewhere100¢$20.3M

Out of $20.3M of cash from operations.4

Financial statements

Revenue56784$49.7M in 2022−12% since 2016
0$50.0M$100.0M$150.0M2016: $56.6M$56.6M20162017: $86.3M$86.3M2017+53%2018: $149.2M$149.2M2018+73%2019: $129.1M$129.1M2019−13%2020: $43.0M$43.0M2020−67%2021: $78.9M$78.9M2021+83%2022: $49.7M$49.7M2022−37%
Operating income56784$15.7M in 2022
-$200.0M-$100.0M0$100.0M2016: -$73.9M-$73.9M20162017: $20.9M$20.9M20172018: $57.5M$57.5M2018+175%2019: -$25.7M-$25.7M20192020: -$199.4M-$199.4M2020+675%2021: $30.5M$30.5M20212022: $15.7M$15.7M2022−49%
Net income56784$37.3M in 2022
-$200.0M-$100.0M0$100.0M2016: -$96.4M-$96.4M20162017: $16.0M$16.0M20172018: $57.8M$57.8M2018+261%2019: -$65.0M-$65.0M20192020: -$184.5M-$184.5M2020+184%2021: -$44.6M-$44.6M2021−76%2022: $37.3M$37.3M2022
Fiscal year2016201720182019202020212022
Revenue$56.6M5$86.3M6$149.2M6$129.1M7$43.0M8$78.9M4$49.7M4
Operating expenses$48.4M4$34.1M4
Operating income-$73.9M5$20.9M6$57.5M6-$25.7M7-$199.4M8$30.5M4$15.7M4
Income before tax-$44.6M4$37.3M4
Income tax$012$06$06$07$08$04$04
Net income-$96.4M5$16.0M6$57.8M6-$65.0M7-$184.5M8-$44.6M4$37.3M4
Earnings per share-$0.795$0.106$0.356-$7.827-$22.018-$5.304$1.444
Earnings per share (diluted)-$0.795$0.106$0.346-$7.827-$22.018-$5.304$1.444
Shares (weighted, basic)8.4M shares425.9M shares4
Shares (weighted, diluted)8.4M shares425.9M shares4

Compare ABRAXAS PETROLEUM CORP with another company

Corporate structure

ABRAXAS PETROLEUM CORP is part of a group headed by Biglari Holdings Inc.. 9 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ABRAXAS PETROLEUM CORP

  • Biglari Holdings Inc. San Antonio, Texas, United States
    • ABRAXAS PETROLEUM CORP San Antonio, Texas, United States
    • Biglari Reinsurance Ltd. Subsidiary · Bermuda
    • First Guard Insurance Company Subsidiary · Arizona, United States
    • Maxim Inc. Subsidiary · Delaware, United States
    • Southern Oil Company Subsidiary · Delaware, United States
    • Southern Pioneer Property & Casualty Insurance Company Subsidiary · Arkansas, United States
    • Steak n Shake Inc. Subsidiary · Indiana, United States
    • Western Sizzlin Corporation Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ABRAXAS PETROLEUM CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.1B4 Dec 31, 2022$1.2B4 Dec 31, 2021−6.6%
Accumulated depreciation$1.1B4 Dec 31, 2022$1.1B4 Dec 31, 2021−1.5%
Property and equipment, net$44.0M4 Dec 31, 2022$106.0M4 Dec 31, 2021−58.5%
Operating-lease assets (leased space)$1.0K4 Dec 31, 2022$173.0K4 Dec 31, 2021−99.4%
Oil and gas properties$43.8M4 Dec 31, 2022$91.6M4 Dec 31, 2021−52.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.9M4 Dec 31, 2022$10.0M4 Dec 31, 2021−71.3%

Leadership

Who has led ABRAXAS PETROLEUM CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Robert L. G. Watson2006–2022

President

  1. Robert L. G. Watson2006–2022

Chief financial officer

  1. Chris E. Williford2006–2011
  2. Barbara M. Stuckey2012
  3. Geoffrey R. King2012–2018
  4. Steven P. Harris2018–2022
2010201520202025
Board members and other officers (28)

Timeline

  1. Dec 12, 20228-K Executive or director change46
  2. Dec 12, 20228-K Entered a material agreement; Bylaws or fiscal year changed47
  3. Nov 17, 20228-K Executive or director change48
  4. Nov 15, 20228-K Executive or director change49
  5. Oct 27, 20228-K Entered a material agreement; Shareholder vote50
  6. Oct 5, 20228-K Other events51
  7. Oct 3, 20228-K Entered a material agreement52
  8. Sep 16, 20228-K Change in control; Executive or director change; Bylaws or fiscal year changed53
  9. Sep 13, 20228-K Executive or director change54
  10. May 18, 20228-K Executive or director change55
  11. May 17, 20228-K Shareholder vote56
  12. Jan 3, 20228-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale57
  13. Mar 7, 2006New chief executive Robert L. G. Watson becomes CEO13

Filings

74 filings to the SEC since October 2021: 2 annual reports, 4 quarterly reports, 13 major events, 26 insider forms, 2 large holders, 27 other. The latest 20:

  1. Apr 17, 202310-K EDGAR
  2. Apr 3, 2023NT 10-K EDGAR
  3. Feb 6, 2023S-8 POS EDGAR
  4. Feb 6, 2023S-8 POS EDGAR
  5. Feb 6, 2023S-8 POS EDGAR
  6. Feb 6, 2023S-8 POS EDGAR
  7. Feb 6, 2023S-8 POS EDGAR
  8. Feb 6, 2023S-8 POS EDGAR
  9. Feb 6, 2023S-8 POS EDGAR
  10. Feb 6, 2023S-8 POS EDGAR
  11. Feb 6, 2023S-8 POS EDGAR
  12. Feb 6, 2023S-8 POS EDGAR
  13. Feb 6, 2023S-8 POS EDGAR
  14. Feb 6, 2023S-8 POS EDGAR
  15. Feb 6, 2023S-8 POS EDGAR
  16. Feb 6, 2023S-8 POS EDGAR
  17. Feb 6, 2023S-8 POS EDGAR
  18. Feb 6, 2023S-8 POS EDGAR
  19. Feb 6, 2023S-8 POS EDGAR
  20. Feb 6, 2023S-8 POS EDGAR

The 74 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

13 open-market trades by officers, directors and large owners since October 2021: 0 buys and 13 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 31, 2023Krog George William JrFormer VP CAOSale1,000$0.90$900Form 4
Jan 30, 2023Krog George William JrFormer VP CAOSale13,000$0.92$12.0KForm 4
Jan 27, 2023Krog George William JrFormer VP CAOSale1,000$0.92$920Form 4
Jan 26, 2023Krog George William JrFormer VP CAOSale1,000$0.88$880Form 4
Jan 25, 2023Krog George William JrFormer VP CAOSale1,000$0.88$880Form 4
Jan 24, 2023Krog George William JrFormer VP CAOSale1,000$0.93$930Form 4
Jan 23, 2023Krog George William JrFormer VP CAOSale1,000$0.92$920Form 4
Jan 20, 2023Krog George William JrFormer VP CAOSale1,000$0.94$940Form 4
Jan 19, 2023Krog George William JrFormer VP CAOSale1,000$0.91$910Form 4
Jan 18, 2023Krog George William JrFormer VP CAOSale1,000$0.88$880Form 4
Jan 18, 2023Krog George William JrFormer VP CAOSale1,000$0.87$870Form 4
Jan 13, 2023Krog George William JrFormer VP CAOSale1,000$0.83$830Form 4
Sep 14, 2022ANGELO GORDON & CO., L.P.Sale685,505$116.70$80.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$2.7M 2020–2021
Money received by yearMoney received by year, 2020–2021: $2.7M in all. PPP loans $2.7M.$0$500K$1M$1.5M2020 · PPP loans: $1.4M20202021 · PPP loans: $1.3M2021
Figures by year
YearPPP loansTotal
2021$1.3M$1.3M
2020$1.4M$1.4M

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA60. Matched to this company by name and state.

  1. Apr 29, 2020$1.4M PPP loan (first draw) from Cadence Bank60To ABRAXAS PETROLEUM CORPORATION, San Antonio TX; $1.4M forgiven Jan 13, 2021
  2. Mar 12, 2021$1.3M PPP loan (second draw) from Transportation Alliance Bank, Inc. d/b/a TAB Bank60To ABRAXAS PETROLEUM CORPORATION, San Antonio TX; $1.3M forgiven Dec 3, 2021

SEC filer profile

How ABRAXAS PETROLEUM CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARABRAXAS PETROLEUM CORP1
  • CIK0000867665
  • Employer ID (EIN)74-25840331
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inNevada1
  • Fiscal year endsDecember 311
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas1
  • Business address18803 Meisner Drive, San Antonio, TX 782581
  • Phone21049047881
  • Shares outstanding100,701,430 as of Mar 23, 20234
  • Public float$15.8M as of Jun 30, 20224
  • On EDGAR sinceJun 7, 19951
  • Filings1,689 in all: 4 (699), 8-K (433), 10-Q (81), SC 13G/A (52), SC 13G (40), 3 (28), 10-K (27), DEF 14A (27)1
    All 56 form types

    8-K/A (25), 5 (20), S-8 POS (18), CORRESP (16), 10-Q/A (15), S-8 (15), DEFA14A (14), 4/A (13), 424B3 (12), 425 (12), UPLOAD (12), 10-K/A (9), 424B5 (8), EFFECT (8), POS AM (8), S-3 (8), S-4 (8), NT 10-K (7), NT 10-Q (7), S-3/A (7), S-4/A (7), SC 13D/A (7), SC 13D (6), PRE 14A (4), PRER14A (4), S-1/A (4), 8-A12B (3), REGDEX (3), DEFR14A (2), S-1 (2), 11-K (1), 15-12G (1), 25 (1), 25-NSE (1), 424B1 (1), 8-A12B/A (1), 8-A12G/A (1), CERTNAS (1), DEFM14A (1), FWP (1), NT 10-Q/A (1), NTN 10Q (1), PREC14A (1), PREM14A (1), RW (1), SC 14F1 (1), T-3 (1), T-3/A (1)

  • Latest filingsAnnual report (10-K) Apr 17, 2023
    Quarterly report (10-Q) Nov 14, 2022
    Proxy statement (DEF 14A) Oct 7, 2022
    Latest 8-K (8-K) Dec 12, 2022

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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