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Approach Resources Inc (AREX.OQ)

AREX.OQ on NASDAQ Stock Exchange Global Select Market

3.47USD
7 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Approach Resource announces strategic alliance and deleveraging transactions
Wednesday, 2 Nov 2016 06:24pm EDT 

Approach Resources Inc : Privately-Negotiated exchange of $130 million of 7.00% senior notes due 2021 . Approach Resources Inc - privately-negotiated exchange of $130 million of 7.00% senior notes due 2021 . Approach Resources Inc - transactions would reduce company's long-term debt by up to $230.3 million . Approach Resources Inc - transactions would generate up to $70 million in future interest savings and enhance company's liquidity . Approach Resources Inc - expects to close initial exchange and launch follow-on exchange offer in q1 of 2017 . Approach Resources Inc says transactions were unanimously approved by company's board of directors . Approach Resources Inc - has agreed to offer to exchange its remaining $99.8 million principal amount of outstanding senior notes for common stock . Approach Resources Inc - company also will enter into a stockholders agreement with wilks . Approach Resources - will cause three wilks' designees to be appointed to board of directors of company, expanding board from five members to eight . Approach Resources Inc - wilks has agreed to vote its shares in proportion with non-wilks stockholders on typical annual meeting matters .Press release - approach resources inc. Announces strategic alliance and deleveraging transactions.  Full Article

Approach Resources posts Q3 loss per share $0.22
Wednesday, 2 Nov 2016 06:22pm EDT 

Approach Resources Inc : Approach resources Inc reports third quarter 2016 results . Qtrly production was 12.1 mboe/d, exceeding prior guidance for quarter . Executed debt-for-equity exchange agreement with largest holder of our senior notes . Says expect Q4 production to average 11.6 mboe/d . Q3 adjusted non-GAAP loss per share $0.23 . Q3 loss per share $0.22 . Q3 revenue $23.7 million versus i/b/e/s view $24.6 million .Q3 earnings per share view $-0.25 -- Thomson Reuters I/B/E/S.  Full Article

Approach Resources Q2 adjusted Non-GAAP loss per share $0.25
Wednesday, 3 Aug 2016 04:30pm EDT 

Approach Resources Inc : Approach Resources Inc. Reports second quarter 2016 results . Q2 adjusted Non-GAAP loss per share $0.25 . Q2 revenue $22.4 million versus I/B/E/S view $22.6 million . Q2 loss per share $0.39 . Q2 earnings per share view $-0.27 -- Thomson Reuters I/B/E/S . Approach Resources Inc says plan to complete three wells in Q3 2016, and expect Q3 production to average around 11.9 mboe/d . Approach Resources Inc says Q2 production was 12.6 mboe/d, exceeding prior guidance for quarter .Approach Resources Inc says at June 30, 2016, had $1 billion revolving credit facility in place, with borrowing base and lender commitment amount of $325 million.  Full Article

Approach Resources updates FY 2015 production guidance
Wednesday, 5 Aug 2015 04:30pm EDT 

Approach Resources Inc:Expects FY 2015 total production to be in range of 5,400 -- 5,550 mboe.  Full Article

Approach Resources gives FY 2015 production guidance
Wednesday, 25 Feb 2015 06:22pm EST 

Approach Resources Inc:Expects FY 2015 total production to be in range of 5,450 - 5,650 mboe.  Full Article

BRIEF-Approach resources announces reaffirmation of borrowing base of $325 million

* Approach resources announces reaffirmation of borrowing base of $325 million Source text for Eikon: Further company coverage: