Approach Resources (AREX) Reports In-Line Q4 EPS
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Approach Resources Inc. Reports Fourth Quarter and Full-Year 2017 Financial and Operating Results and Provides 2018 Outlook
March 8, 2018 5:35 PM ESTFORT WORTH, Texas--(BUSINESS WIRE)-- Approach Resources Inc. (NASDAQ: AREX) today reported financial and operational results for the fourth quarter and full-year 2017 and estimated year-end 2017 proved reserves.
Fourth Quarter 2017 Highlights
Fourth quarter production of 1,064 MBoe or 11.6 MBoe/d Closed bolt-on acquisition increasing our contiguous acreage position by approximately 39,000 net acres and proved developed reserves of 1.6 MMBoe Extended term on revolving credit facility to May 7, 2020, and reaffirmed $325 million borrowing base Net income was $45.8 million, or $0.51 per diluted share. Adjusted net... More