UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION



                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934



                                 Date of Report
                                  March 9, 2004


                          Abraxas Petroleum Corporation
             (Exact name of registrant as specified in its charter)


                                     Nevada
                 (State of other jurisdiction of incorporation)





0-19118                                              74-2584033
(Commission File Number)              (I.R.S. Employer Identification Number)




                        500 N. Loop 1604 East, Suite 100
                            San Antonio, Texas 78232
                    (Address of principal executive offices)

               Registrant's telephone number, including area code:
                                  210-490-4788





Item 7.     FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS


            (c)  Exhibits.

            EXHIBIT
            NUMBER                                  DESCRIPTION
            ---------------          ------------------------------------------
            99.1                         Press Release dated March 9, 2004.


Item 12.  DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION.


On March 9, 2004,  Abraxas  issued a press  release  announcing  its  results of
operations and financial condition for the year ended December 31, 2003 The full
text of the press release is attached hereto as Exhibit 99.1 and is incorporated
herein by reference. In accordance with SEC Release No. 33-8176, the information
contained  in such press  release  shall not be deemed  "filed" for  purposes of
Section 18 of the Securities  Exchange Act of 1934, as amended,  nor shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933,
as amended, except as shall be expressly set forth by specific reference in such
a filing.


The following  information is being furnished pursuant to Item 12 "Disclosure of
Results of Operations  and  Financial  Condition."  The Company's  press release
contains non-GAAP financial measures. Generally, a non-GAAP financial measure is
a numerical  measure of a company's  performance,  financial  position,  or cash
flows that either excludes or includes amounts that are not normally excluded or
included in the most directly  comparable  measure  calculated  and presented in
accordance with United States generally accepted accounting principles, or GAAP.
Pursuant  to  the  requirements  of  Regulation  G,  the  Company  has  provided
quantitative  reconciliations within the press release of the non-GAAP financial
measures to the most directly comparable GAAP financial measures.









                                   SIGNATURES


     Pursuant to the  requirement  of the  Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                          ABRAXAS PETROLEUM CORPORATION



                             By:      /s/Chris Williford__________
                                      Chris Williford
                                      Executive Vice President, Chief Financial
                                      Officer and Treasurer


Dated:   March 9, 2004