Abraxas Petroleum (AXAS) has reduced G&A expense by approximately 40%
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/22/2026
- Wall St rises on the day but falls for the week; bond yields and Iran in focus
- UBS says bull market has further to run
- S&P 500 may pull back before midterms, but Citi says buy the dip
- Global yield relief evaporates as U.S. rates push back toward multi-decade peaks
- BofA's Hartnett sees dollar slump, risk selloff if bond intervention fails
- Applied Optoelectronics sets up $600M at-the-market stock offering
- Fannie Mae loses at least 10 senior executives amid departures - WSJ
- Wall St rises on the day but falls for the week; bond yields and Iran in focus
- One killed, three injured when man attacks Swedish school with sword
- Morgan Stanley course-corrects their semiconductor equipment outlook on demand
Abraxas Petroleum Reacts to Current Events
March 16, 2020 4:05 PM EDTSAN ANTONIO--(BUSINESS WIRE)-- Abraxas Petroleum Corporation (Abraxas or the Company) (NASDAQ: AXAS):
In response to current market conditions, the Company has reduced G&A expense by approximately 40%. This was accomplished by a combination of salary reductions, reduction in board size, and selective layoffs. In addition, while current oil market conditions persist, our capital expenditures will be limited to minor projects that will reflect a meaningful and permanent reduction in lease operating expenses. We will not drill and/or complete any new wells while these conditions persist. Most of the Companys lands are... More
