Approach Resources (AREX) Misses Q4 EPS by 13c
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Approach Resources Inc. Reports 2016 Fourth Quarter and Full-Year Financial and Operating Results and Provides 2017 Outlook
March 9, 2017 4:33 PM ESTFORT WORTH, Texas, March 09, 2017 (GLOBE NEWSWIRE) -- Approach Resources Inc. (NASDAQ: AREX) today reported financial and operational results for the fourth quarter and full-year 2016 and estimated 2016 proved reserves.
Fourth Quarter 2016 Highlights
Production was 12.0 MBoe/d, exceeding quarterly guidanceRecord low quarterly lease operating expense (LOE) of $3.40 per BoeCash operating expenses decreased 14% from the prior-year quarterRevenues were $26.5 million, an increase of 12% from the prior quarterFull-Year 2016 and Other Highlights
Production was 12.4 MBoe/d, exceeding midpoint of annual... More