U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 OMB APPROVAL
Form 3 OMB Number: 3235-0104
Expires:September 30,1998
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a)of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Carington, Robert W.
108 Gatewood Drive
San Antonio, Texas 78209
2. Date of event Requiring Statement (month/day/year)
11/19/98
3. IRS or Social Security Number of Reporting Person
###-##-####
4. Issuuer Name and Ticker of Trading Symbol
Abraxas Petroleum Corporation AXAS
5. Relationship of Reporting Person(s) to Issuer
(X) Director ( ) 10% Owner
(X) Officer (give ( ) Other (specify
title below) below)
Executive Vice President
6. If Amendment, Date of Original (month/day/year)
7. Individual of Joint/Group Filing
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I - Non-Derivative Securities Beneficially Owned
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1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Form: Direct (Instr. 5)
(Instr.4) (D) or Indirect
(I) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
Table ll - Derivative Securities Beneficially Owned (e.g. put, calls, warrants, options, convertible securities)
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1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of
(Instr. 4) cisable and Underlying Derivative Security sion or ship Form Indirect
Expiration (Instr 4) Exercise of Deriva- Ownership
Date Price of tive (Instr. 5)
(Month/Day/Year) Deri- Security
--------------------------------------------------- vative Direct (D)
Date Expira- Amount of Security or
Exer- tion Title Number of Indirect(I)
cisable Date Shares (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Option for common shares various 5/21/08 Common Stock 300,000 8.75 (D)
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Option for common shares (1) 11/19/08 Common Stock 20,000 5.56 (D)
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Explanation to Responses:
(1)The option vests in four equal annual installments beginning on
November 19, 1999
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**Signature of Reporting Person
Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If
space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not Page 2 required to respond unless the form displays a
currently valid OMB Number. SEC 1473 (7-96)
