Approach Resources (AREX) intends to offer 5M shares as it seeks to raise funds to develop its...


Approach Resources (AREX) intends to offer 5M shares as it seeks to raise funds to develop its Wolfcamp oil shale resource play and for general working capital needs; it may also use the proceeds to pay down debt. AREX had ~33.5M shares outstanding as of Sept. 17. Shares -1.2% premarket.

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