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Last $2.43 USD
Change Today 0.00 / 0.00%
Volume 943.2K
As of 5:20 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

approach resources inc (AREX) Snapshot

Open
$2.42
Previous Close
$2.43
Day High
$2.62
Day Low
$2.32
52 Week High
09/3/14 - $17.58
52 Week Low
08/26/15 - $1.65
Market Cap
98.6M
Average Volume 10 Days
1.3M
EPS TTM
$0.24
Shares Outstanding
40.6M
EX-Date
--
P/E TM
10.2x
Dividend
--
Dividend Yield
--
Current Stock Chart for APPROACH RESOURCES INC (AREX)

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approach resources inc (AREX) Details

Approach Resources Inc., an independent energy company, focuses on the exploration, development, production, and acquisition of unconventional oil and gas reserves in the United States. The company’s properties are primarily located in the Permian Basin in west Texas. It also owns interests in east Texas Basin. As of December 31, 2014, it had estimated proved reserves of approximately 146.2 million barrels of oil equivalent in Crockett and Schleicher counties, Texas; and owned and operated 729 producing oil and gas wells in the Permian Basin. Approach Resources Inc. was incorporated in 2002 and is headquartered in Fort Worth, Texas.

142 Employees
Last Reported Date: 02/26/15
Founded in 2002

approach resources inc (AREX) Top Compensated Officers

Founder, Chairman, Chief Executive Officer an...
Total Annual Compensation: $560.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $725.0K
Chief Operating Officer
Total Annual Compensation: $400.0K
Chief Administrative Officer and Corporate Se...
Total Annual Compensation: $375.0K
Compensation as of Fiscal Year 2014.

approach resources inc (AREX) Key Developments

Approach Resources Inc. Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Production and Financial Guidance for the Year 2015

Approach Resources Inc. reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2015. Production for second quarter 2015 totaled 1,391 MBoe (15.3 MBoe/d), compared to production of 1,286 MBoe (14.1 MBoe/d) in second quarter 2014, an 8% increase. Oil production for the second quarter was 499 MBbls (5.5 MBbls/d). Production for second quarter 2015 was 65% liquids and 35% natural gas. For the six months, the company reported total production of 2,677 MBoe compared to 2,353 MBoe a year ago. Oil production was 993 MBbls against 975 MBbls a year ago. NGLs production was 778 MBbls against 665 MBbls a year ago. Gas production was 5,436 MMcf against 4,282 MMcf a year ago. The company reported a net loss for second quarter 2015 of $11.9 million, or $0.29 per diluted share, on revenues of $38.6 million. This compares to net income for second quarter 2014 of $3.8 million, or $0.10 per diluted share, on revenues of $73.4 million. Second quarter 2015 revenues represented a decrease of 47% from the prior-year quarter, but an increase of 16% compared to the first quarter of 2015. Net income for second quarter 2015 included an unrealized loss on commodity derivatives of $13.9 million and a realized gain on commodity derivatives of $9.3 million. Excluding the unrealized loss on commodity derivatives and related income taxes, adjusted net loss (non-GAAP) for second quarter 2015 was $2.8 million, or $0.07 per diluted share, compared to adjusted net income of $8.7 million, or $0.22 per diluted share, for second quarter 2014. EBITDAX (non-GAAP) for second quarter 2015 was $32.6 million, or $0.80 per diluted share, compared to $50.6 million, or $1.29 per diluted share, for second quarter 2014. Capital expenditures incurred during second quarter 2015 totaled $56.9 million, and included $53.5 million for drilling and completion activities, and $3.4 million for infrastructure projects, equipment and land. Operating loss was $8.365 million against operating income of $22.596 million a year ago. Loss before income tax provision was $19.219 million against income of $5.946 million a year ago. For the six months, the company reported revenue of $71.903 million against $135.335 million a year ago. Operating loss was $20.753 million against operating income of $39.624 million a year ago. Loss before income tax provision was $30.923 million against income of $10.572 million a year ago. Net loss was $19.558 million or $0.48 per diluted share against net income of $6.738 million or $0.17 per diluted share a year ago. Adjusted net loss was $4.138 million or $0.10 per diluted share against adjusted net income of $15.408 million or $0.39 per diluted share a year ago. The company's capital expenditures were $131.5 million. EBITDAX was $65.938 million or $1.63 per diluted share against $93.314 or $2.37 per diluted share for the same period a year ago. The company provided production guidance for 2015. The company expects total production to be in the range of 5,400 MBoe to 5,500 MBoe, oil production to be in the range of 1,900 MBbls to 1,975 MBbls, NGLs production to be in the range of 1,575 MBbls to 1,625 MBbls and gas production to be in the range of 11,550 MMcf to 11,700 MMcf. For the year 2015, the company expects depletion, depreciation and amortization to be in the range of $20.00 million to 22.00 million and capital expenditure to be approximately $150 million.

Approach Resources, Inc. to Report Q2, 2015 Results on Aug 05, 2015

Approach Resources, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 05, 2015

Approach Resources, Inc., Q2 2015 Earnings Call, Aug 06, 2015

Approach Resources, Inc., Q2 2015 Earnings Call, Aug 06, 2015

 

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Industry Analysis

AREX

Industry Average

Valuation AREX Industry Range
Price/Earnings 3.2x
Price/Sales 0.5x
Price/Book 0.1x
Price/Cash Flow 0.7x
TEV/Sales NM Not Meaningful
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