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.

Fort Worth, US
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 Metrics

Approach Resources Financial Metrics

Market capitalization (23-May-2017)

$207 m

Closing share price (23-May-2017)


Cash (31-Dec-2016)

$21 k
Approach Resources's current market capitalization is $207 m.
FY, 2013FY, 2014FY, 2015FY, 2016


$58.8 m$432 k$600 k$21 k

Accounts Receivable


$592 k$929 k$1.2 m$2.8 m

Current Assets

$90.4 m$61.1 m$20.4 m$12.5 m

Total Assets

$1.1 b$1.4 b$1.2 b$1.1 b

Accounts Payable

$38.6 m$33.3 m$10.8 m$9.5 m

Current Liabilities

$84.4 m$106.9 m$28.5 m$26.4 m

Additional Paid-in Capital

$565.2 m$572.9 m$580.6 m$586.1 m

Retained Earnings

$144.9 m$201 m$26.9 m

Total Equity

$710.5 m$774.3 m$608 m$563 m

Financial Leverage

1.6 x1.8 x1.9 x2 x
FY, 2013FY, 2014FY, 2015FY, 2016

Net Income

$72.3 m$56.2 m($174.1 m)($52.2 m)

Accounts Receivable

($10 m)$3.3 m$7.9 m$2.3 m


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

Accounts Payable

$12.5 m($5.8 m)$964 k$358 k

Cash From Operating Activities

$125.6 m$180.2 m$102.7 m$26.1 m

Cash From Financing Activities

$135.8 m$147.8 m$114.8 m

Interest Paid

$12.4 m$20.2 m$23.6 m$26 m

Income Taxes Paid

$404 k$404 k$404 k
Y, 2016

Financial Leverage

2 x

Approach Resources Market Value History

Approach Resources Online Presence

Approach Resources Company Life

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