Approach Resources (AREX) Misses Q2 EPS by 12c
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Approach Resources Inc. Reports Second Quarter 2016 Results
August 3, 2016 4:31 PM EDTFORT WORTH, Texas--(BUSINESS WIRE)-- Approach Resources Inc. (NASDAQ: AREX) today reported results for second quarter 2016. Highlights for second quarter 2016 include:
Average initial production (IP) for two wells completed late second quarter was 861 Boe/d (59% oil and 82% liquids), or 987 Boe/d when normalized to a 7,500 lateral Production was 12.6 MBoe/d, exceeding prior guidance for the quarter Record low lease operating expense (LOE) of $4.56 per Boe since we began horizontal Wolfcamp development Net loss was $16.0 million, or $0.39 per diluted share, and adjusted net loss... More