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.

Type
Public
HQ
Fort Worth, US
Founded
2002
Size (employees)
100 (est)-1%
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 Data and Metrics

Approach Resources Financial Metrics

$, USD

Market capitalization (23-Jun-2017)

200 m

Closing share price (23-Jun-2017)

2.4

Cash (31-Dec-2016)

21 k
Approach Resources's current market capitalization is $200 m.
$, USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

58.8 m432 k600 k21 k

Inventories

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

Accounts Payable

38.6 m33.3 m10.8 m9.5 m

Current Liabilities

84.4 m106.9 m28.5 m26.4 m

Additional Paid-in Capital

565.2 m572.9 m580.6 m586.1 m

Retained Earnings

144.9 m201 m26.9 m

Total Equity

710.5 m774.3 m608 m563 m

Financial Leverage

1.6 x1.8 x1.9 x2 x
$, 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

Inventories

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

Accounts Payable

12.5 m(5.8 m)964 k358 k

Cash From Operating Activities

125.6 m180.2 m102.7 m26.1 m

Cash From Financing Activities

135.8 m147.8 m114.8 m

Interest Paid

12.4 m20.2 m23.6 m26 m

Income Taxes Paid

404 k404 k404 k
Y, 2016

Financial Leverage

2 x

Approach Resources Market Value History

Approach Resources Online and Social Media Presence

Approach Resources Company Life and Culture

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