Approach Resources (AREX) Reports Q4 Loss of $0.07/Share
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Approach Resources Inc. Reports Fourth Quarter and Full-Year 2018 Financial and Operating Results
March 18, 2019 5:05 PM EDTFORT WORTH, Texas--(BUSINESS WIRE)-- Approach Resources Inc. (NASDAQ: AREX) today reported financial and operational results for the fourth quarter and full-year 2018, estimated year-end 2018 proved reserves and provided an update on its efforts to pursue deleveraging alternatives.
Fourth Quarter 2018 Highlights
Fourth quarter production of 963 MBoe or 10.5 MBoe/d Net income was $0.9 million, or $0.01 per diluted share. Adjusted net loss (non-GAAP) was $6.9 million, or $0.07 per diluted share EBITDAX (non-GAAP) of $13.5 million Cash operating expenses (non-GAAP) of $8.85 per Boe, a 28% decrease over the prior quarter... More