Examples of Canadian Abraxas in a sentence
On October 31, 2014 we closed on the sale of our interest in Canadian Abraxas Petroleum, ULC ("Canadian Abraxas"), a wholly-owned Canadian subsidiary of Abraxas Petroleum Corporation.
As a result of the disposal of Canadian Abraxas, the results of operations of Canadian Abraxas are reflected in our Financial Statements and in this document as “Discontinued Operations” and our remaining operations are referred to in our Financial Statements and in this document as “Continuing Operations” or “Continued Operations.” Unless otherwise noted, all disclosures are for continuing operations.
Canadian Abraxas' principal offices are located at 300-5th Avenue, 12th Floor, Calgary, Alberta and its telephone number is (403) 262-1949.
In consideration for the exchange of each $1,000 principal amount of old notes, Abraxas and Canadian Abraxas will issue a new note with a principal amount equal to $700 and Abraxas will issue approximately 59.6184 shares of Abraxas common stock and approximately 59.6184 CVRs each of which may result in the distribution of up to approximately 6.3889 shares of Abraxas common stock.
Canadian Abraxas and the Subsidiary Guarantors will also (i) make such withholding or deduction and (ii) remit the full amount deducted or withheld to the relevant governmental authority in accordance with applicable law.
Additionally, due to Abraxas', Canadian Abraxas' and the Guarantors' being domiciled in Canada and in the United States, Abraxas, Canadian Abraxas and the Guarantors could be subject to multi-jurisdictional insolvency proceedings in Canada and the United States.
PAYMENT OF TAXES All payments made by Canadian Abraxas or any Subsidiary Guarantor under or with respect to the new notes or its Subsidiary Guarantee will be made free and clear of any tax, duty, levy, impost, assessment or other Canadian government or provincial charges.
All terms used herein and not defined herein shall have the meaning ascribed to them in the Offer to Exchange and Consent Solicitation dated November 18, 1999 of Abraxas Petroleum Corporation and Canadian Abraxas Petroleum Limited.
The first lien notes and the guarantees are secured by a first lien or charge on substantially all of the crude oil and natural gas properties and natural gas processing plants owned by Abraxas, Canadian Abraxas, New Cache and Sandia, as well as the shares of common stock of Grey Wolf owned by Abraxas and Canadian Abraxas.
Includes Canadian Abraxas Petroleum ULC's production which was sold effective October 31, 2014 and is now considered discontinued operations.