Disciplined Execution Drives Approach Resources Third Quarter 2018 Results
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Approach Resources (AREX) Tops Q3 EPS by 4c, Revenues Beat
November 8, 2018 4:58 PM ESTApproach Resources (NASDAQ: AREX) reported Q3 EPS of ($0.04), $0.04 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $32.56 million versus the consensus estimate of $29.64 million.
Drilled six wells and completed two horizontal Wolfcamp wellsProduction of 1,043 MBoe or 11.3 MBoe/dayRevenues of $32.6 million, a 27% increase over prior year quarterGenerated $4.5 million of operating incomeNet loss was $4.3 million or $0.05 per diluted share, and adjusted net loss (non-GAAP) was $4.2 million or... More