Key Developments: Approach Resources Inc (AREX.OQ)

AREX.OQ on NASDAQ Stock Exchange Global Select Market

27.46USD
1 Aug 2013
Price Change (% chg)

$0.97 (+3.66%)
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Latest Key Developments (Source: Significant Developments)

Approach Resources Inc Sees FY 2013 Production Guidance at Low End Of Prior Guidance; Issues Q3 production Guidance
Thursday, 1 Aug 2013 05:05pm EDT 

Approach Resources Inc announced that production growth for fiscal 2013 is targeted to the lower end of 25% to 35% year-over-year production guidance. Production for third quarter of 2013 is expected to range between 8.7 MBoe/d to 9 MBoe/d due to pad drilling and timing of completions.  Full Article

Approach Resources Inc Announces Pricing of $250 Million Senior Notes
Thursday, 6 Jun 2013 05:12pm EDT 

Approach Resources Inc announced the pricing of its public offering of $250 million in aggregate principal amount of 7.00% senior notes due 2021. The notes were priced at par. The sale of the notes is expected to settle on June 11, 2013, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the notes offering to repay the outstanding indebtedness under its revolving credit facility, to fund capital expenditures and for general working capital needs. J.P. Morgan, RBC Capital Markets and KeyBanc Capital Markets are acting as joint book-running managers of the offering.  Full Article

Approach Resources Inc Issues Q2 2013
Thursday, 2 May 2013 05:40pm EDT 

Approach Resources Inc announced that for second quarter of 2013, it expects production to range from 9.3 MBoe/d to 9.6 MBoe/d.  Full Article

Approach Resources Inc Comments On FY 2013 Production Guidance-Conference Call
Friday, 22 Feb 2013 04:00pm EST 

Approach Resources Inc announced that it is targeting 30% production growth in fiscal 2013.  Full Article

Approach Resources Inc Issues FY, Q1 2013 Production Guidance
Wednesday, 13 Feb 2013 07:50am EST 

Approach Resources Inc announced that it expects fiscal 2013 production to be 3,600 to 3,900 MBoe with first quarter 2013 production ranging from 8.9 MBoe/d to 9.1 MBoe/d.  Full Article

Approach Resources Inc Issues FY 2012 Production Guidance
Monday, 29 Oct 2012 09:05am EDT 

Approach Resources Inc announced that due to the unanticipated plant downtime, and subject to timely completion of new gas lines, the Company expects fiscal 2012 production to be 2,800 MBoe -- 3,000 MBoe.  Full Article

Approach Resources Inc Announces Underwriters` Exercise of Over-Allotment Option
Wednesday, 3 Oct 2012 04:31pm EDT 

Approach Resources Inc announced that the underwriters of its previously-announced common stock offering have exercised their option to purchase an additional 325,000 shares of the Company`s common stock at a public offering price of $30.50 per share, less the underwriting discounts. Following the closing of the sale of the over-allotment shares, the Company will have issued a total of 5,325,000 shares of common stock, resulting in aggregate net proceeds of approximately $154.4 million after deducting underwriting discounts and estimated offering expenses. The sale of the over-allotment shares is expected to close on October 5, 2012, subject to customary closing conditions. The offering is being made pursuant to an effective registration statement filed with the Securities and Exchange Commission (the SEC). J.P. Morgan is acting as sole book-running manager for the offering and KeyBanc Capital Markets, RBC Capital Markets, Wells Fargo Securities, Scotiabank / Howard Weil and Wunderlich Securities are acting as co-managers.  Full Article

Approach Resources Inc Announces Pricing of Public Offering of Common Stock
Wednesday, 19 Sep 2012 06:36pm EDT 

Approach Resources Inc announced that it has priced its previously announced underwritten public offering of 5,000,000 shares of common stock at a price to the public of $30.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock. The Company expects to issue and deliver the shares on September 25, 2012, subject to customary closing conditions. The offering is being made pursuant to an effective registration statement filed with the Securities and Exchange Commission (the SEC). The Company intends to use the net proceeds from the offering primarily to fund its capital expenditures for the development of its Wolfcamp oil shale resource play and for general working capital needs. Pending these uses, the Company intends to repay outstanding borrowings under its revolving credit facility. J.P. Morgan is acting as sole book-running manager for the offering and KeyBanc Capital Markets, RBC Capital Markets, Wells Fargo Securities, Scotiabank / Howard Weil and Wunderlich Securities are acting as co-managers.  Full Article

Approach Resources Inc Announces Public Offering of Common Stock
Tuesday, 18 Sep 2012 04:01pm EDT 

Approach Resources Inc announced that it intends, subject to market conditions, to offer 5,000,000 shares of its common stock in an underwritten public offering. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). The Company expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock to cover over-allotments, if any. The Company intends to use the net proceeds from the offering primarily to fund its capital expenditures for the development of its Wolfcamp oil shale resource play and for general working capital needs. Pending these uses, the Company intends to repay outstanding borrowings under its revolving credit facility. J.P. Morgan is acting as sole book-running manager for the offering and KeyBanc Capital Markets, RBC Capital Markets, Wells Fargo Securities, Scotiabank / Howard Weil and Wunderlich Securities are acting as co-managers.  Full Article

Approach Resources Inc Raises FY 2012 Production Guidance
Thursday, 3 May 2012 05:20pm EDT 

Approach Resources Inc announced that for fiscal 2012, it raises production guidance to 2,900 MBoe-3,100 MBoe.  Full Article

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