Approach Resources

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.

Company Growth (employees)
Fort Worth, US
Size (employees)
100 (est)
Approach Resources was founded in 2002 and is headquartered in Fort Worth, US

Approach Resources Office Locations

Approach Resources has offices in Fort Worth and New York
Fort Worth, US (HQ)
800 6500 West Fwy

Approach Resources Financials and Metrics

Approach Resources Financials


Net income (FY, 2016)

(52.2 m)

EBIT (FY, 2016)

(44.9 m)

Market capitalization (19-Oct-2017)

205.5 m

Cash (31-Dec-2016)

21 k
Approach Resources's current market capitalization is $205.5 m.
USDFY, 2016

R&D expense

3.9 m

General and administrative expense

24.7 m

Operating expense total

28.7 m


(44.9 m)
USDFY, 2013FY, 2014FY, 2015FY, 2016


58.8 m432 k600 k21 k


592 k929 k1.2 m2.8 m

Current Assets

90.4 m61.1 m20.4 m12.5 m

Total Assets

1.1 b1.4 b1.2 b1.1 b
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

72.3 m56.2 m(174.1 m)(52.2 m)

Accounts Receivable

(10 m)3.3 m7.9 m2.3 m


(45 k)(179 k)(325 k)534 k

Accounts Payable

12.5 m(5.8 m)964 k358 k
Y, 2016

Financial Leverage

2 x
Show all financial metrics

Approach Resources Market Value History

Traffic Overview of Approach Resources

Approach Resources Online and Social Media Presence

Approach Resources Company Life and Culture

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