Approach Resources (AREX) Reports In-Line Q4 EPS

Approach Resources (NASDAQ: AREX) reported Q4 EPS of ($0.07), in-line with the analyst estimate of ($0.07). Revenue for the quarter came in at $25.54 million versus the consensus estimate of $28.08 million.

Guidance

The Company’s capital budget for 2018 is a range of $50 million to $70 million, depending on commodity prices. The table below sets forth our production and operating costs and expenses guidance for 2018.

First quarter 2018 production is estimated to be approximately 11.3 MBoe/d. First quarter 2018 production will be affected by no new well completions in the fourth quarter of 2017 and weather.

As further discussed below under “Forward-Looking and Cautionary Statements,” our guidance is forward-looking information that is subject to a number of risks and uncertainties, many of which are beyond our control. In addition, our 2018 capital budget excludes acquisitions and lease extensions and renewals and is subject to change depending upon a number of factors, including prevailing and anticipated prices for oil, NGLs and natural gas, results of horizontal drilling and completions, economic and industry conditions at the time of drilling, the availability of sufficient capital resources for drilling prospects, our financial results and the availability of lease extensions and renewals on reasonable terms.

For earnings history and earnings-related data on Approach Resources (AREX) click here.

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