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"Independence and integrity, those are two important things for me."

A Conversation With Robert Watson / President, Chairman & CEO / Abraxas Petroleum

 

 


The following is a transcript of the video.

Independence and integrity, those are two important things for me. With Stephens, they’re not looking over their shoulder to see what’s happening in New York. They’re making decisions here in Little Rock, in the middle of the country.

Abraxas Petroleum is an independent exploration and production company, looking for oil and gas. We were doing an equity offering and we gave them an opportunity to participate in the deal, and they declined, which was kind of interesting to me. But it told me a lot about Stephens.

You know, they wanted to make sure they knew us as well as we knew them, so they said it was premature for them to participate. That meant a lot to me. So when it got down to doing our next deal, Stephens had never led on the left side of a book run deal on an ENP company like ourselves. So, I felt like they would really roll up their sleeves and do a lot of hard work to make sure it worked because it was their first one.

And they did, and it worked, but since then, I found out that that wasn’t special for us, that’s just the way they do things.

I just had this very strong feeling that their ultimate goal wasn’t money – it was relationships, and continuing relationships. It’s all-important to me, as a public company, to have that kind of relationship with your banker.

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