Abraxas Petroleum: An Independent Oil and Natural Gas Company

There are several independent energy companies that are listed on the Russell 3000 Index. One of these companies is Abraxas Petroleum Corporation. The business is publicly traded and is headquartered in San Antonio, Texas.

As an oil and natural gas company, it is engaged in the exploration, exploitation and development of oil and natural gas. The company’s operations are located in the Permian Basin, the Rocky Mountain and in the onshore Gulf Coast regions. It continues to expand its presence in these areas by acquiring properties. The activities of the company is continuously growing through their horizontal drilling activities. As of December 2014, the company is reportedly sitting on reserves amounting to more than 42.4 million barrels of oil equivalent.

It was in 1977 that the operations of the company commenced. Through the years, it has strategically acquired properties that helped bolster the size of its operations. Common stocks of the company are marketed on the NASDAQ.