Abraxas Petroleum Corp.

Completed restructuring transactions including the cash sale of its Williston Basin assets to Lime Rock Resources for $87.2 million, the repayment of all of its revolving credit facility and the exchange of its entire second lien term loan held by Angelo Gordon Energy Funding LLC into newly authorized Series A  preferred stock. Abraxas’ capital structure is now comprised of common stock and preferred stock, which has an initial preference amount of approximately $137 million and will accrete at 6% per annum, compounding quarterly. Petrie Partners Securities LLC was financial adviser and Dykema Gossett PLLC and Holland & Hart LLP served as its legal counsel. Simpson Thacher & Bartlett LLP and Brownstein Hyatt Farber Schreck served as legal counsel to Angelo Gordon.