EX-25.1 8 exhibit251.htm EXHIBIT 25.1 Exhibit
Exhibit 25.1






SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________

FORM T-1

STATEMENT OF ELIGIBILITY UNDER
THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
Check if an Application to Determine Eligibility of
a Trustee Pursuant to Section 305(b)(2)
_______________________________________________________

U.S. BANK NATIONAL ASSOCIATION
(Exact name of Trustee as specified in its charter)

31-0841368
I.R.S. Employer Identification No.

800 Nicollet Mall
Minneapolis, Minnesota

55402
(Address of principal executive offices)
(Zip Code)

Shazia Flores
U.S. Bank National Association
5555 San Felipe Street, Suite 1150
Houston, TX 77056
(713) 235-9209
(Name, address and telephone number of agent for service)

Abraxas Petroleum Corporation
(Issuer with respect to the Securities)
Nevada
74-2584033
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
 
 

18803 Meisner Drive
San Antonio, Texas

78258
(Address of Principal Executive Offices)
(Zip Code)
    
Senior Notes
(Title of the Indenture Securities)

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FORM T-1
Item 1.
GENERAL INFORMATION. Furnish the following information as to the Trustee.
a)
Name and address of each examining or supervising authority to which it is subject.
Comptroller of the Currency
Washington, D.C.
b)
Whether it is authorized to exercise corporate trust powers.
Yes
Item 2.
AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation.
None
Items 3-15
Items 3-15 are not applicable because to the best of the Trustee's knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.
Item 16.
LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification.
1.
A copy of the Articles of Association of the Trustee.*
2.
A copy of the certificate of authority of the Trustee to commence business, attached as Exhibit 2.
3.
A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3.
4.
A copy of the existing bylaws of the Trustee.**
5.
A copy of each Indenture referred to in Item 4. Not applicable.
6.
The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.
7.
Report of Condition of the Trustee as of March 31, 2016 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.
*
Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.
**
Incorporated by reference to Exhibit 25.1 to registration statement on form S-3ASR, Registration Number 333-199863 filed on November 5, 2014.

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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Houston, State of Texas on the 27th of June, 2016.
By:
/s/ Shazia Flores    
Shazia Flores
Vice President

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Exhibit 2

4




Exhibit 3






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Exhibit 6

CONSENT
In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.


Dated: June 27, 2016


By:
/s/ Shazia Flores    
Shazia Flores
Vice President

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Exhibit 7
U.S. Bank National Association
Statement of Financial Condition
1.As of 3/31/2016

($000’s)
  
Assets
 
 
 
3/31/2016
Cash and Balances Due From Depository Institutions
$
10,947,868

Securities
106,681,861

Federal Funds
36,987

Loans & Lease Financing Receivables
263,697,563

Fixed Assets
5,196,349

Intangible Assets
12,814,361

Other Assets
23,828,774

Total Assets
$
423,203,763

 
 
Liabilities
 
Deposits
$
315,187,684

Fed Funds
1,383,186

Treasury Demand Notes

Trading Liabilities
1,570,792

Other Borrowed Money
44,382,132

Acceptances

Subordinated Notes and Debentures
3,800,000

Other Liabilities
12,270,761

Total Liabilities
$
378,594,555

 
 
Equity
 
Common and Preferred Stock
18,200

Surplus
14,266,915

Undivided Profits
29,514,964

Minority Interest in Subsidiaries
809,129

Total Equity Capital
44,609,208

 
 
Total Liabilities and Equity Capital
$
423,203,763

 
 
 
 
 
 
 
 
 
 
    



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