Abraxas Petroleum Corp.

Abraxas Petroleum Corp. has entered into a $100 million senior secured second lien term loan facility with Angelo Gordon Energy Servicer LLC. Net proceeds from the financing are estimated to be approximately $95 million, all of which was used to pay down the company’s revolving credit facility.

At closing, the borrowing base under the company’s revolving credit facility was set at $135 million and approximately $94 million was drawn, leaving $41 million of available liquidity under the facility.