Company Information

  

Address: ONE RIDGMAR CENTRE
6500 WEST FREEWAY, SUITE 800 
City: FORT WORTH 
State: TX 
Zip Code: 76116 
Telephone: 817-989-9000 

Description of Business

Primary SIC Code: 1311
(As filed with the SEC)  

Approach Resources Inc. is an independent energy company focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas, where we lease approximately 123,000 net acres as of December 31, 2016. We believe our concentrated acreage position and extensive, integrated field infrastructure system provides us an opportunity to achieve cost, operating and recovery efficiencies in the development of our drilling inventory. Our long-term business strategy is to develop resource potential from the Wolfcamp shale oil formation and pursue acquisitions that meet our strategic and financial objectives. See "-- Our Business Strategy" below. Additional drilling targets could include the Clearfork, Canyon Sands, Strawn and Ellenburger zones. We sometimes refer to our development project in the Permian Basin as "Project Pangea," which includes "Pangea West.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
09/2017-2.27NAN/E
06/2017-2.45NAN/E
03/2017-2.93NAN/E
12/2016-1.26NAN/E
09/2016-1.08NAN/E
06/2016-4.54NAN/E
03/2016-4.44NAN/E
12/2015-4.30NAN/E

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2016 Leverage 2016
Net Inc/Comm Equity-0.09Total Liab/Total Assets0.49
Net Inc/Total Assets-0.05Total Liab/Inv Cap0.50
Net Inc/Inv Cap-0.05Total Liab/Comm Equity0.92
Pretax Inc/Net Sales-0.85Interest Coverage Ratio-1.81
Net Inc/Net Sales-0.58Curr Debt/Equity0.01
Cash Flow/Net Sales0.29LTD/Equity0.40
SG&A/NetSales0.36Total Debt/Equity0.41
Asset Utilization   Liquidity  
Net Receivables Turnover8.39Quick Ratio0.47
Inventory TurnoverNACurrent Ratio0.47
Inventory Day SalesNANet Rec/Curr Assets0.77
Net Sales/Work Cap-6.51Inv/Curr AssetsNA
Net Sales/PP&E0.08  

Income Statement (Millions)

  9/30/2017 6/30/2017 3/31/2017 12/31/2016
Total Revenues(Net Sales) 25.61 24.97 26.36 26.51
Cost of Goods Sold 4.42 4.24 4.17 3.77
Selling & Admin Exps 8.18 8.80 8.29 9.71
Operating Income -3.94 -9.72 -5.11 -7.06
Interest Exp 5.30 4.92 5.46 7.09
Pretax Income -12.77 -13.41 -2.07 -17.05
Other Income -3.53 1.23 8.50 -2.90
Net Income Bef Extraordinary ... NA NA NA NA
Net Income -8.51 -8.90 -140.77 -13.48

Balance Sheet (Millions)

Assets 9/30/2017 6/30/2017 3/31/2017 12/31/2016
Cash & Short Term Investments 0.02 0.18 0.08 0.02
Receivables - Total 8.66 8.51 8.78 9.64
Inventories - Total NA NA NA NA
Total Current Assets 12.00 13.92 10.72 12.49
Net Property, Plant & Equipment 1,080.61 1,089.46 1,086.48 1,092.06
Total Assets 1,094.97 1,106.27 1,098.03 1,104.56
Liabilities        
Accounts Payable 26.62 33.92 24.00 21.49
Debt in Current Liabilities 2.53 0.62 2.16 4.88
Total Current Liabilities 29.15 34.54 26.16 26.37
Long-Term Debt 84.11 84.03 83.96 226.65
Total Liabilities 551.84 555.95 539.52 541.60
Stockholder's Equity        
Minority Interest NA NA NA NA
Preferred Stock 0.00 0.00 0.00 0.00
Common Stock 0.85 0.85 0.85 0.42
Retained Earnings -181.74 -173.23 -164.33 -23.56
Treasury Stock NA NA NA NA
Total Stockholders' Equity 543.13 550.32 558.51 562.95
Total Liabilities and Stockholders' Equity 1,094.97 1,106.27 1,098.03 1,104.56

Cash Flow Summary (Millions)

Categories 9/30/2017 6/30/2017 3/31/2017 12/31/2016
Net Cash Provided by Operating Activities 13.32 10.53 5.69 6.19
Net Cash Provided by Investing Activities -18.17 -21.64 -6.89 -5.05
Net Cash Provided by Financing Activities 4.69 11.21 1.26 -3.83

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/2012128.896.380.18
12/2013181.3072.261.85
12/2014258.5356.171.42
12/2015131.34-174.10-4.30
12/201690.30-52.24-1.26
Growth Rates-8.51----

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional09/30/179421,31124.63




Report Date : 12/4/2017

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