Inactive Instrument

Approach Resources, Inc.

Equities

AREXQ

US03834A1034

Oil & Gas Exploration and Production

Approach Resources, Inc. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2019; Provides Production Guidance for the Year 2019

May 09, 2019 at 06:26 pm EDT

Approach Resources, Inc. reported unaudited consolidated earnings and Production results for the first quarter ended March 31, 2019. For the quarter, the company reported Oil, NGL and gas sales were $19,243,000 compared to $28,772,000 a year ago. Operating loss was $11,456,000 compared to $1,243,000 a year ago. Net loss was $16,796,000 or $0.18 per basic and diluted share compared to $7,446,000 or $0.08 per basic and diluted share a year ago.

Production for first quarter 2019 totaled 906 Mboe, or 10.1 MBoe/d, made up of 24% oil, 36% NGLs and 40% natural gas.

The company anticipate its 2019 annual production to average 9.4 to 9.6 MBoe per day.

Latest news about Approach Resources, Inc.

Approach Midstream Holdings LLC Emerged from Bankruptcy	22-03-07	CI
Zarvona III-A, L.P. completed the acquisition Substantially All Assets of Approach Resources Inc and Its Subsidiaries from Approach Resources, Inc. (OTCPK:AREX.Q), Approach Oil and Gas Inc., Approach Resources I, LP, Approach Operating, LLC and Approach Services, LLC.	20-09-29	CI
Zarvona III-A, L.P. entered into an asset purchase agreement to acquire Substantially All Assets of Approach Resources Inc and Its Subsidiaries from Approach Resources, Inc. (OTCPK:AREX.Q), Approach Oil and Gas Inc., Approach Resources I, LP, Approach Operating, LLC and Approach Services, LLC for approximately $120 million.	20-09-07	CI
Alpine Energy Capital, LLC cancelled the acquisition of substantially all assets of Approach Resources, Inc. (OTCPK:AREX.Q), Approach Oil and Gas Inc., Approach Resources I, LP, Approach Operating, LLC and Approach Services, LLC.	20-09-02	CI
Alpine Energy Capital, LLC entered into asset purchase agreement to acquire substantially all assets of Approach Resources, Inc. (OTCPK:AREX.Q), Approach Oil and Gas Inc., Approach Resources I, LP, Approach Operating, LLC and Approach Services, LLC for approximately $190 million.	20-02-06	CI
Approach Resources, Inc. will Change its Ticker to AREX.Q from AREX	19-11-20	CI
Approach Resources, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019	19-11-18	CI
Approach Midstream Holdings LLC Filed for Bankruptcy	19-11-18	CI
Motion for Joint Administration Filed by Approach Midstream Holdings LLC	19-11-18	CI
Motion for Joint Administration Approved for Approach Midstream Holdings LLC	19-11-17	CI
Approach Resources, Inc.(OTCPK:AREX) dropped from S&P TMI Index	19-11-14	CI
Approach Resources, Inc.(OTCPK:AREX) dropped from NASDAQ Composite Index	19-11-13	CI
Approach Resources, Inc. Announces Board Changes	19-11-04	CI
Approach Enters into the Ninth Amendment to Limited Forbearance Agreement with the Consenting Lenders	19-10-22	CI
Approach Enters into the Eighth Amendment to Limited Forbearance Agreement with the Consenting Lenders	19-10-16	CI
Approach Resources, Inc. Announces Executive Changes	19-09-27	CI
Approach Resources, Inc. Enters Fourth Amendment to Limited Forbearance Agreement	19-08-28	CI
Transcript : Approach Resources, Inc., Q2 2019 Earnings Call, Aug 09, 2019	19-08-09
Approach Resources, Inc. Announces Production Results for the Second Quarter and Six Months Ended June 30, 2019	19-08-08	CI
Approach Resources, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019	19-08-08	CI
Approach Resources, Inc.(OTCPK:AREX.Q) dropped from Russell 2000 Dynamic Index	19-06-28	CI
Approach Resources, Inc.(NasdaqGS:AREX) dropped from S&P Global BMI Index	19-06-24	CI
Transcript : Approach Resources, Inc., Q1 2019 Earnings Call, May 10, 2019	19-05-10
Approach Resources, Inc. Announces Impairment for the First Quarter Ended March 31, 2019	19-05-10	CI
Approach Resources, Inc. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2019; Provides Production Guidance for the Year 2019	19-05-09	CI

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Company Profile

Approach Resources Inc. is an independent energy company. The Company is focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas. The Company's business segment is the exploration and production of oil, natural gas liquids (NGLs) and natural gas. The Company's assets cover an area of approximately 126,000 net acres. Its proved reserves are approximately 166.6 million barrels of oil equivalent. The Company's proved reserves are primarily located in Crockett and Schleicher Counties, Texas. The Company's Permian Basin acreage is known as the Project Pangea. The Company owns and operates approximately 800 producing oil and gas wells in the Permian Basin. The Company, through a joint venture with EnCana Oil & Gas (USA) Inc., holds interests in the approximately 3,000 gross acre project in Limestone and Robertson Counties, Texas, in the East Texas Cotton Valley trend.

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Oil & Gas Exploration and Production

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