Key Developments: Approach Resources Inc (AREX.OQ)

AREX.OQ on NASDAQ Stock Exchange Global Select Market

15.46USD
19 Sep 2014
Price Change (% chg)

$-0.47 (-2.95%)
Prev Close
$15.93
Open
$15.95
Day's High
$16.01
Day's Low
$15.26
Volume
522,210
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280,578
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$31.65
52-wk Low
$15.26

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Latest Key Developments (Source: Significant Developments)

Approach Resources Inc raises FY 2014 production outlook
Monday, 4 Aug 2014 04:17pm EDT 

Approach Resources Inc:Increased FY 2014 estimated production from 4,790 MBoe to 4,950 MBoe.  Full Article

Approach Resources Inc gives FY 2014 production outlook
Thursday, 13 Feb 2014 04:10pm EST 

Approach Resources Inc:Expects FY 2014 production to total to 4,790 MBoe, which represents a 40 pct increase over estimated FY 2013 production of 3,424 MBoe.  Full Article

Approach Resources Inc Announces Chief Financial Officer Change
Thursday, 7 Nov 2013 04:10pm EST 

Approach Resources Inc announced that Sergei Krylov, Managing Director at J.P. Morgan Securities LLC, has been named to the position of Executive Vice President and Chief Financial Officer. Mr. Krylov will assume the position from Steven P. Smart, who has been with the Company since its inception in 2002, and Chief Financial Officer since 2007. Mr. Smart announced his intention to retire from the Company effective December 31, 2013.  Full Article

Approach Resources Inc Completes Sale Of Interest In Southern Midland Basin Oil Pipeline
Tuesday, 8 Oct 2013 08:30am EDT 

Approach Resources Inc announced that it, together with its partner in Wildcat Permian Services LLC, has completed the previously-announced sale of Wildcat to an affiliate of JP Energy Development LP for $210 million in cash, subject to customary post-closing conditions, adjustments and escrows. Cash proceeds to Approach are expected to total approximately $108 million, before taxes and subject to customary post-closing adjustments and escrows.  Full Article

Approach Resources Inc Announces Agreement to Sell Interest In Southern Midland Basin Oil Pipeline
Thursday, 19 Sep 2013 08:30am EDT 

Approach Resources Inc (together with its subsidiaries, "Approach" or the Company) announced a definitive agreement to sell its interest in an oil pipeline system in the southern Midland Basin for cash proceeds to Approach of $108 million, before taxes and subject to customary post-closing conditions, adjustments and escrows. Approach, together with its partner in Wildcat Permian Services LLC ("Wildcat"), entered into an Equity Purchase Agreement (the "Agreement") with affiliates of JP Energy Development LP (together, "JP Energy"), under which JP Energy will acquire all of the equity interests in Wildcat for a purchase price of $210 million, subject to customary post-closing conditions, adjustments and escrows. The transaction is expected to close in late third quarter or early fourth quarter 2013.  Full Article

Approach Resources Inc Sees FY 2013 Production Guidance At Low End Of Prior Guidance; Issues Q3 2013 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

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