Abraxas Petroleum Corp. provided earnings guidance for the full year of 2010. The company expects its 2010 capital expenditure budget of $30 million. The company anticipates funding the 2010 capital program out of cash flow from operations and further provided the operational and financial guidance for 2010, which excludes non-cash and extraordinary items are EBITDA range between $38 million- $45 Million.

Abraxas Petroleum Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. On a consolidated basis, net loss attributable to the company was $4.4 million, or $0.09 per share, compares to net income of $70.8 million or $1.44 per share during the same period of 2008. Net income for the three months ended September 30, 2008 was driven by a sharp decrease in commodity prices from the prior period end of June 30, 2008 and reflected in a $83.8 million unrealized (non-cash) gain on derivative contracts for the period. Adjusted net income, excluding certain items, of $747,000, or $0.02 per basic share for the three months ended September 30, 2009 compares to adjusted net income, excluding certain items, of $4.5 million, or $0.09 per basic share during the same period of 2008. Adjusted net income, excluding certain items, does not include the non-controlling interest which will be eliminated in future periods as a result of the merger and the unrealized loss or gain on derivative contracts which is a non-cash item. Operating income was $0.6 million against operating income of $13.9 million reported a year ago. Cash flow for the period was $5.7 million against $11.5 million a year ago. EBITDA was $8.6 million against $14.0 million reported a year ago. The company reported revenue of $13.41 million, compared to $29.25 million for the same quarter of 2008. For the nine months period, the company reported net loss attributable to shareholders was $9.9 million or $0.20 per diluted share on revenue of $36.6 million against net income attributable to shareholders was $4.1 million or $0.08 per diluted share on revenue of $85.8 million reported a year ago. Operating loss was $1.2 million against operating income of $43 million reported a year ago. Cash flow for the period was $21 million against $40.3 million a year ago. EBITDA was $29.3 million against $47.6 million reported a year ago. Adjusted net income was $3 million or $0.06 per basic share against $19.9 million or $0.41 per basic share reported a year ago.

Abraxas Petroleum Corp. expected to Report Fiscal Year 2009 Results on February 15, 2010. This event was calculated by Capital IQ (Created on November 6, 2009).