January 19, 2017 / 9:38 PM / 3 years ago

BRIEF-Abraxas updates 2017 capex and production guidance

Jan 19 (Reuters) - Abraxas Petroleum Corp -

* Abraxas announces acceleration of 2017 planned activity; updates capex and production guidance

* Says board of directors recently approved an increase in Abraxas’ 2017 capital budget from $60 million to $110 million

* Forecasts increase in activity will lead to average production of 8,200 boepd at midpoint of updated 2017 guidance

* Expects to fund this increase in its capital budget through cash on hand, availability under its credit facility

* Sees 2017 exit rate of approximately 9,500 Boepd

* Forecasts average production of 8,200 boepd at midpoint of updated 2017 guidance with a 2017 exit rate of about 9,500 boepd Source text for Eikon: Further company coverage:

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