Approach Resources (AREX) Tops Q4 EPS by 5c

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Go back to Approach Resources (AREX) Tops Q4 EPS by 5c

Approach Resources Inc. Reports Fourth Quarter and Full-Year 2015 Results and Provides 2016 Outlook

March 3, 2016 4:30 PM EST

FORT WORTH, Texas--(BUSINESS WIRE)-- Approach Resources Inc. (NASDAQ: AREX) today reported results for fourth quarter and full-year 2015 and estimated 2015 proved reserves.

Balance Sheet Highlights

No capital expenditures in the fourth quarter allowed for free cash flow and debt reduction Reduced current liabilities from $45.2 million at 9/30/15 to $28.5 million at 12/31/15 Reduced total debt from $515.6 million at 9/30/15 to $496.6 million at 12/31/15 Liquidity of over $175 million at 12/31/15

Fourth Quarter 2015 Highlights

Production was 14.5 MBoe/d, a 4% decrease from the prior-year quarter... More