Approach Resources (AREX) Reports Q4 Loss of $0.07/Share
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Approach Resources (NASDAQ: AREX) reported Q4 EPS of ($0.07), versus ($0.07) reported last year. Revenue for the quarter came in at $22.38 million, versus $28.42 million reported last year.
Guidance
The Company’s capital budget for 2019 is a range of $30 million to $60 million, depending on commodity prices. The table below sets forth our production and operating costs and expenses guidance for 2019, anticipating a capital budget of $30 million funded primarily through cash flows from operations. The eventual results of our strategic and deleveraging efforts may have a substantial impact on the Company’s ability to achieve the guidance set forth below.
| � | � | 2019 Guidance | |
| Capital Expenditures (in millions) | $30 | ||
| � | |||
| Production: | |||
| Oil (MBbls) | 925 − 975 | ||
| NGLs (MBbls) | 1,250 − 1,350 | ||
| Gas (MMcf) | 8,650 − 8,750 | ||
| Total (MBoe) | 3,600 − 3,800 | ||
| � | |||
| Cash operating costs (per Boe): | |||
| Lease operating | $5.00 − 6.00 | ||
| Production and ad valorem taxes | 8.5% of oil and gas revenues | ||
| Cash general and administrative | $4.50 − 5.50 | ||
| Non-cash operating costs (per Boe): | |||
| Non-cash general and administrative | $0.75 − 1.25 | ||
| Exploration | $0.25 − 0.75 |
For earnings history and earnings-related data on Approach Resources (AREX) click here.
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