ABRAXAS PETROLEUM CORP

CIK:0000867665|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Other	$ 22	$ 22
Total Revenue	49,737	78,858
Operating costs and expenses
Lease operating	10,104	17,914
Production and ad valorem taxes	4,458	6,223
Rig expense	412	478
Depreciation, depletion, amortization and accretion	6,511	15,643
General and administrative (including stock-based compensation of $946 and $3,296, respectively)	12,575	8,116
Total operating costs and expenses	34,060	48,374
Operating income	15,677	30,484
Other (income) expense:
Interest income	(37)	(15)
Interest expense	111	35,773
Amortization of deferred financing fees	0	4,804
Deferred finance fees and warrant cancelation	0	4,212
Gain (loss) on debt extinguishment	6,645	0
Loss on investments	4,409	0
Loss on derivative contracts	0	33,022
Loss on drilling rig	8,225	0
Loss on sale of non-oil and gas assets	668	(29)
Gain on sale of oil and gas assets	(28,982)	0
Other	600	0
Total other (income) expense	(21,651)	75,051
(Loss) income before income tax	37,328	(44,567)
Income tax (expense) benefit	0	0
Net (loss) income	$ 37,328	$ (44,567)
Net (loss) income per common share - basic (in dollars per share)	$ 1.44	$ (5.30)
Net (loss) income per common share - diluted (in dollars per share)	$ 1.44	$ (5.30)
Weighted average shares outstanding
Basic (in shares)	25,868	8,408
Diluted (in shares)	25,868	8,408
Paycheck Protection Program, CARES Act [Member]
Other (income) expense:
Gain (loss) on debt extinguishment	$ (6,645)	$ (2,716)
Oil Revenues [Member]
Revenues:
Revenues	39,617	61,228
Gas Revenues [Member]
Revenues:
Revenues	6,642	8,656
Natural Gas Liquids Revenues [Member]
Revenues:
Revenues	$ 3,456	$ 8,952