Last $17.59 USD
Change Today +0.08 / 0.46%
Volume 285.2K
AREX On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 11:05 AM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

approach resources inc (AREX) Snapshot

Open
$17.50
Previous Close
$17.51
Day High
$17.59
Day Low
$17.30
52 Week High
10/21/13 - $31.67
52 Week Low
08/7/14 - $17.30
Market Cap
692.5M
Average Volume 10 Days
1.1M
EPS TTM
$0.62
Shares Outstanding
39.4M
EX-Date
--
P/E TM
28.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for APPROACH RESOURCES INC (AREX)

Related News

No related news articles were found.

approach resources inc (AREX) Related Businessweek News

No Related Businessweek News Found

approach resources inc (AREX) Details

Approach Resources Inc., an independent energy company, is engaged in the acquisition, development, exploration, and production of oil and gas properties in the United States. The company’s properties are primarily located in the Permian Basin in west Texas, as well as interests in East Texas Basin. As of December 31, 2013, it had estimated proved reserves of approximately 114.7 million barrels of oil equivalent in Crockett and Schleicher counties, Texas; and owned and operated 679 producing oil and gas wells in the Permian Basin. Approach Resources Inc. was incorporated in 2002 and is headquartered in Fort Worth, Texas.

135 Employees
Last Reported Date: 02/25/14
Founded in 2002

approach resources inc (AREX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $525.0K
Chief Operating Officer
Total Annual Compensation: $340.0K
Chief Administrative Officer and Corporate Se...
Total Annual Compensation: $310.0K
Compensation as of Fiscal Year 2013.

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, 2014; Provides Production Guidance for 2014

Approach Resources Inc. reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2014. Production for second quarter 2014 totaled 1,286 MBoe (14.1 MBoe/d), compared to production of 817 MBoe (9 MBoe/d) in second quarter 2013, a 58% increase. Second quarter 2014 production increased 19%, compared to first quarter 2014 production of 1,067 MBoe (11.9 MBoe/d). Oil production for second quarter 2014 totaled 525 MBbls (5.8 MBbls/d), up 52% from the prior-year period and 15% from first quarter 2014. Production for second quarter 2014 was 70% liquids and 30% natural gas. NGLs production was 370 MBbls against 227 MBbls a year ago. Gas production was 2,348 MMcf against 1,477 MMcf a year ago. For the six months, the company reported total production of 2,353 MBoe compared to 1,571 MBoe a year ago. Oil production was 975 MBbls against 655 MBbls a year ago. NGLs production was 665 MBbls against 440 MBbls a year ago. Gas production was 4,282 MMcf against 2,855 MMcf a year ago. Net income for second quarter 2014 was $3.8 million, or $0.10 per diluted share, on revenues of $73.4 million. This compared to a net income for second quarter 2013 of $7.8 million, or $0.20 per diluted share, on revenues of $42.3 million. Second quarter 2014 revenues increased $31.1 million due to an increase in production $26 million and an increase in average realized price $5.1 million. Net income for second quarter 2014 included an unrealized loss on commodity derivatives of $7.7 million and a realized loss on commodity derivatives of $3.3 million. Excluding the unrealized loss on commodity derivatives and related income taxes, adjusted net income (non-GAAP) for second quarter 2014 was $8.7 million, or $0.22 per diluted share, compared to $5 million, or $0.13 per diluted share, for second quarter 2013. EBITDAX (non-GAAP) for second quarter 2014 was $50.6 million, or $1.29 per diluted share, compared to $30.7 million, or $0.79 per diluted share, for second quarter 2013. Capital expenditures incurred during second quarter 2014 totaled $92.3 million, and included $85.8 million for drilling and completion activities, $3.8 million for infrastructure projects and equipment and $2.7 million for acreage acquisitions and extensions. Operating income was $22.596 million against $10.943 million a year ago. Income before income tax provision was $5.946 million against $12.004 million a year ago. Oil, NGL and gas sales were $73.408 million against $42.272 million a year ago. For the six months, the company reported oil, NGL and gas sales of $135.335 million against $78.541 million a year ago. Operating income was $39.624 million against $15.547 million a year ago. Income before income tax provision was $10.572 million against $11.470 million a year ago. Net income was $6.738 million or $0.17 per diluted share against $7.440 million or $0.19 per diluted share a year ago. Net cash provided by operating activities was $85.688 million against $44.839 million a year ago. Adjusted net income was $15.408 million or $0.39 per diluted share against $7.315 million or $0.19 per diluted share a year ago. EBITDAX was $93.314 million or $2.37 per diluted share against $55.105 million or $1.41 per diluted share a year ago. The company provided production guidance for 2014. The company increased its estimated 2014 production from 4,790 MBoe to 4,950 MBoe. This updated estimate is 70% liquids and includes oil production of 2,050 MBbls to 2,200 MBbls.

Approach Resources, Inc. to Report Q2, 2014 Results on Aug 04, 2014

Approach Resources, Inc. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Aug 04, 2014

Approach Resources, Inc., Q2 2014 Earnings Call, Aug 05, 2014

Approach Resources, Inc., Q2 2014 Earnings Call, Aug 05, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
AREX:US $17.59 USD +0.08

AREX Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Contango Oil & Gas Co $38.07 USD -0.28
Goodrich Petroleum Corp $18.33 USD -0.07
PetroQuest Energy Inc $6.14 USD -0.03
Rex Energy Corp $14.14 USD -0.41
VAALCO Energy Inc $8.73 USD -0.02
View Industry Companies
 

Industry Analysis

AREX

Industry Average

Valuation AREX Industry Range
Price/Earnings 9.6x
Price/Sales 2.9x
Price/Book 1.0x
Price/Cash Flow 4.2x
TEV/Sales 1.7x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact APPROACH RESOURCES INC, please visit www.approachresources.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.