Approach Resources is an independent energy company which 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. 

Employee Rating

5.0More
TypePublic
HQFort Worth, US
Founded2002
Size (employees)97 (est)-3%
Websiteapproachresources.com
Approach Resources was founded in 2002 and is headquartered in Fort Worth, US
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Key People/Management at Approach Resources

J. Ross Craft

J. Ross Craft

Chairman & CEO
James C. Crain

James C. Crain

Director
Alan D. Bell

Alan D. Bell

Director
Vean J. Gregg

Vean J. Gregg

Lead Independent Director
Matthew R. Kahn

Matthew R. Kahn

Director
Matthew D. Wilks

Matthew D. Wilks

Director
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Approach Resources Office Locations

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

Approach Resources Revenue

USD

Revenue (Q2, 2018)

59.1m

Net income (Q2, 2018)

(16.5m)

EBIT (Q2, 2018)

(1.5m)

Market capitalization (18-Jan-2019)

102.1m

Closing stock price (18-Jan-2019)

1.1

Cash (30-Jun-2018)

22.0k
Approach Resources's current market capitalization is $102.1 m.
Annual
USDFY, 2013FY, 2015FY, 2016FY, 2017

General and administrative expense

26.5m28.3m24.7m24.3m

R&D expense

2.2m4.4m3.9m3.7m

Operating expense total

137.7m403.8m135.2m125.1m

EBIT

43.6m(272.5m)(44.9m)(19.7m)
Quarterly
USDQ3, 2013Q1, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

59.1m

General and administrative expense

6.2m8.5m7.7m7.3m6.1m5.8m5.8m5.9m6.5m6.6m12.7m

R&D expense

1.2m738.0k891.0k2.0m569.0k1.6m1.0m1.0m2.1m3.0k

Operating expense total

34.3m44.9m45.5m272.5m34.9m34.5m32.2m31.5m34.7m30.0m60.6m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

58.8m432.0k600.0k21.0k21.0k

Accounts Receivable

Inventories

592.0k929.0k1.2m2.8m

Current Assets

90.4m61.1m20.4m12.5m16.7m
Quarterly
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

72.3m56.2m(174.1m)(52.2m)(112.4m)

Inventories

(45.0k)(179.0k)(325.0k)534.0k

Accounts Payable

12.5m(5.8m)964.0k358.0k907.0k

Cash From Operating Activities

125.6m180.2m102.7m26.1m37.5m
Quarterly
USDQ3, 2013Q1, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Net Income

7.9m2.9m29.2m(168.3m)(13.7m)(29.7m)(38.8m)(140.8m)(149.7m)(7.4m)(16.5m)

Accounts Payable

15.3m342.0k(5.8m)(216.0k)535.0k(3.9m)(1.1m)(4.0m)(4.3m)(1.8m)(4.0m)

Cash From Operating Activities

119.0m49.0m148.2m82.5m5.3m8.6m19.9m5.7m16.2m5.4m14.3m

Cash From Investing Activities

(230.2m)(103.4m)(292.6m)(207.2m)(3.3m)(9.4m)(18.8m)(6.9m)(28.5m)
USDY, 2018

Financial Leverage

1.8 x
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Approach Resources Online and Social Media Presence

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Approach Resources News and Updates

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Approach Resources Company Life and Culture

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Approach Resources Frequently Asked Questions

  • When was Approach Resources founded?

    Approach Resources was founded in 2002.

  • Who are Approach Resources key executives?

    Approach Resources's key executives are J. Ross Craft, James C. Crain and Alan D. Bell.

  • How many employees does Approach Resources have?

    Approach Resources has 97 employees.

  • Who are Approach Resources competitors?

    Competitors of Approach Resources include Cairn India, Lonestar Resources US and Parsley Energy.

  • Where is Approach Resources headquarters?

    Approach Resources headquarters is located at 800 6500 West Fwy, Fort Worth.

  • Where are Approach Resources offices?

    Approach Resources has offices in Fort Worth and New York.

  • How many offices does Approach Resources have?

    Approach Resources has 2 offices.