SOURCE: Equity Markets Inc

June 30, 2011 09:00 ET

Energy Activity Is Confident - Research Report on Abraxas Petroleum Corporation and SM Energy Company

MACAU--(Marketwire - Jun 30, 2011) - Today, announced its research report highlighting Abraxas Petroleum Corporation (NASDAQ: AXAS) and SM Energy Company (NYSE: SM). Full content and research is available at

As it is expected to see rising oil prices, production growth, improved global economic growth and geopolitical tensions placing pressure on E&P stocks, the growth of this sector is optimistic. S&P believe the EPS are expected to see growth of about 26% in 2011 and 29% in 2012. As of June, the U.S. Energy Information Administration (EIA) estimated that global oil demand expanded 2.4 million b/d in 2010, to 86.7 million b/d, and sees demand growth of 1.75 MMb/d in 2011, to 88.43 MMb/d. Earlier in 2011, crude oil prices reached highs not seen since 2008, reflecting the disruption of exports from Libya and unrest in the Middle East and North Africa.

Equity Markets has reviewed Abraxas Petroleum Corporation as an independent energy company primarily engaged in the development and production of oil and gas. As of December 31, 2009, its properties were located in the Rocky Mountain, Mid-Continent, Permian Basin and Gulf Coast regions of the United States. On October 5, 2009, Abraxas Petroleum Corporation acquired 100% ownership of Abraxas Energy Partners, L.P. The full research report on Abraxas Petroleum Corporation (NASDAQ: AXAS) is available here:

Equity Markets is covering SM Energy Company, as an independent energy company engaged in the acquisition, exploration, exploitation, development and production of natural gas and crude oil in North America, with a focus on oil- and liquids-rich resource plays. The Company has approximately 250,000 net acres in the Eagle Ford shale play in South Texas, two-thirds of which it operates with an approximate 100 % working interest. In the North Dakota portion of the Williston Basin, it has approximately 81,000 net acres that are prospective in the Bakken/Three Forks formations. The full research report on SM Energy Company (NYSE: SM) is available here:

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