abrax20200625

0001437749-20-013823.txt : 20200625 0001437749-20-013823.hdr.sgml : 20200625 20200625101205 ACCESSION NUMBER: 0001437749-20-013823 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20191231 FILED AS OF DATE: 20200625 DATE AS OF CHANGE: 20200625 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Abraxas Petroleum Corp. 401(K) Profit Sharing Plan CENTRAL INDEX KEY: 0001365030 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 742584033 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-135032-01 FILM NUMBER: 20987338 BUSINESS ADDRESS: STREET 1: 500 N. LOOP 1604 EAST STREET 2: SUITE 100 CITY: SAN ANTONIO STATE: TX ZIP: 78232 BUSINESS PHONE: 490-4788 MAIL ADDRESS: STREET 1: 500 N. LOOP 1604 EAST STREET 2: SUITE 100 CITY: SAN ANTONIO STATE: TX ZIP: 78232 11-K 1 abrax20200625_11k.htm FORM 11-K abrax20200625_11k.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________

FORM 11-K

______________

ANNUAL REPORT

PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

(Mark One):

[X]ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019

[ ]TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the transition period from _____to_____

Commission File Number 001-16701

______________

ABRAXAS PETROLEUM CORPORATION 401(K) PROFIT SHARING PLAN

(Full title of the plan)

______________

ABRAXAS PETROLEUM CORPORATION

18803 Meisner Drive

SAN ANTONIO, TEXAS 78258

(Name of issuer of the securities held pursuant to the plan and the address of the issuer’s and plan’s

principal executive office)

REQUIRED INFORMATION

Item 1-3. The Abraxas Petroleum Corporation 401(k) Profit Sharing Plan (the “Plan”) is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Therefore, in lieu of the requirements of Items 1-3 of Form 11-K, attached are the financial statements of the Plan for the fiscal year ended December 31, 2019, which have been prepared in accordance with the financial reporting requirements of ERISA.

Item 4. Pursuant to Section 103 (c) of ERISA, and the regulations thereunder, the Plan is not required to file audited financial statements, because the Plan has fewer than 100 participants.

ABRAXAS PETROLEUM CORPORATION 401(K) PROFIT SHARING PLAN
STATEMENT OF INCOME AND EXPENSES
YEAR ENDING DECEMBER 31, 2019


INCOME
Contribution – Company Matching (Co. Stock)	$	331,956
Contribution – Participant 401(K)		793,654
Investment Earnings (Loss)		1,029,176
Other Income		24,077
Total Income (Loss)		2,178,863

EXPENSES
Payments to Participants/Alternate Funding Agencies		1,752,809
Other Expenses		22,587
Total Expenses		1,775,396

Income (Loss) over Expenses		403,467
Assets at the Beginning of the Plan Year		11,688,651
Assets at the End of the Plan Year	$	12,092,118

ABRAXAS PETROLEUM CORPORATION 401(K) PROFIT SHARING PLAN
PLAN ASSETS AND LIABILITIES



	As of January 1,		As of December 31,
	2019		2019
ASSETS
Cash	$	1,595,878	$	1,664,096
Mutual Funds		8,672,134		9,922,180
Company Stock		1,322,509		480,953
Participant Loans		98,130		24,889
Total Assets	$	11,688,651	$	12,092,118
..
LIABILITIES	$	—	$	—

NET ASSETS (Assets less Liabilities)	$	11,688,651	$	12,092,118

ABRAXAS PETROLEUM CORPORATION 401(K) PROFIT SHARING PLAN

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed by the undersigned thereunto duly authorized, in the City of San Antonio, State of Texas, on the 25 th day of June 2020.

ABRAXAS PETROLEUM CORPORATION

401(K) PROFIT SHARING PLAN

By: Abraxas Petroleum Corporation

By: /s/ Robert L.G. Watson

Robert L. G. Watson

Chief Executive Officer and President