Approach resources – Oil & Gas 360

Crashing oil prices and equity market volatility grind energy deals to a halt at less than $1B in M&A, total Q1 upstream deal value falls to historic low

April 2, 2020

ENVERUS Austin, Texas (April 2, 2020) – Enverus, the leading oil & gas SaaS and data analytics company, has released its Q1 summary of M&A activity, which revealed a substantial collapse as oil prices plunged to 18-year lows. Only $770 million in U.S. upstream deals were completed during the first quarter of 2020—less than one-tenth of the ~$8 billion

Billionaire fracking brothers hammered by Permian holdings

November 22, 2019

Houston Chronicle Farris and Dan Wilks hit pay dirt during the shale boom when they sold their Texas fracking company in 2011 for $3.5 billion, giving them ample resources to fund their interests in land, politics and religion. But many of their more recent investments in the Permian Basin have turned to dust. The brothers put some of their fortune

Approach Resources Appoints New Chairman, New CEO as Members of Executive Management Team Leave

April 10, 2019

Permian producer Approach Resources (stock ticker: AREX, $AREX) has reported wide-scale management changes. Craft departs, Krylov is named Approach CEO Ross Craft has resigned from his role as chairman and CEO of Approach Resources. Sergei Krylov, who has served as EVP and Chief Financial Officer since January 2014, has been appointed the new CEO. Krylov will also retain his duties as

Southern Gas Association Names Approach Resources Alum its President, COO

April 4, 2019

Southern Gas Association Names Suzanne Ogle President and Chief Operating Officer

The Permian’s Precious Water: E&Ps Weigh In

May 25, 2018

In this Midland/Delaware Basin infrastructure roundup, the following E&Ps are covered: Halcón Resources Company (ticker: HK) Approach Resources Company (ticker: AREX) Apache Company (ticker: APA) Callon Petroleum Company (ticker: CPE) Waterworks Halcón plans water saving costs Halcon reported a LOE and workover expense at $6.3 million for the quarter, or $6.36 per Boe. This amount included approximately $700,000

Exclusive Video Interview with Approach Resources President & COO Qingming Yang

September 19, 2017

Approach Resources: we believe the Wolfcamp shale holds 45 billion barrels of oil At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Permian producer Approach Resources (ticker: AREX) President & Chief Operating Officer Qingming Yang. The average shale play formation is approximately 300 feet in thickness. In combination, the

EnerCom’s 2017 Conference Day Two Breakout Notes: Approach Resources

August 15, 2017

Approach Resources Breakout Notes Qingming Yang, President and COO of Approach Resources, Inc., (ticker: AREX) presented today at EnerCom’s The Oil & Gas Conference® 22. Approach Resources is a Permian pure-play operating company targeting the Wolfcamp. In the Permian, Approach holds approximately 138,000 gross acres. During Q2, Approach’s average production—11.9 MBOEPD—exceeded its Q2 production guidance. The company drilled eight wells

Approach, Eclipse, Unit Corp. Report Q2

August 3, 2017

Approach Resources Approach Resources (ticker: AREX) exceeded its production guidance for Q2, with production at 11.9 MBOEPD, and dropped its lease operating cost below guidance as well, at $3.92 per BOE. Approach drilled a total of eight wells and completed another five. One of the completed wells was in the Wolfcamp A bench, two more in the Wolfcamp B bench,

Approach Resources Using Nano-Fluids in Wolfcamp Completions

June 26, 2017

Permian pure play operator — Approach Resources Inc. (ticker: AREX) – is carefully evaluating its completions in its Wolfcamp benches. Approach holds 138,000 gross (120,000 net) acres targeting primarily the Wolfcamp A, B, and C benches. In its Permian acreage, Approach reported a proved reserves value of 156.4 MMBOE and also reported approximately 1,600 potential horizontal drilling locations. Approach has

Approach Resources to Boost Liquidity with Note Exchanges

November 3, 2016

Approach Q3: Sets record low quarterly LOE at $3.49 per Boe On Nov. 2, Permian operator Approach Resources (ticker: AREX) published several announcements including its Q3 2016 results and a privately-negotiated exchange of $130 million of 7.00% senior notes due 2021, followed by an exchange offer for the remaining $100 Million of 7.00% senior notes due 2021. 3Q Highlights Production was 12.1 MBOEPD, exceeding

Approach Resources – Day One Breakout Notes

August 17, 2015

Ross Craft, Chairman, CEO and President of Approach Resources Inc. (NASDAQ: AREX), presented today at EnerCom’s The Oil & Gas Conference® 20. Approach Resources Inc. is an independent energy company focused on exploration and development in Texas. The company record quarterly production of 1,391 MBoe, an 8% increase over the prior-year quarter. Revenues totaled $38.6 million. Both per-unit lease operating expense

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