Friday, May 3, 6:43 AMApproach Resources (AREX): Q1 EPS of $0.06 beats by $0.04. Revenue of $36.3M misses by $1.31M. (PR)
Comment![Earnings, Breaking News]
Thursday, February 21, 6:50 PMApproach Resources Inc. (AREX) Q4 EPS of -$0.04 misses by $0.04. Revenue of $35.3M in-line. (PR)
Comment![Earnings, Breaking News, Energy]
Wednesday, February 13, 2:51 PM
Approach Resources (AREX -2.5%) reports 2012 production averaging 7.9M boe/day, up 24% Y/Y, with total oil production of 969M barrels up 101% Y/Y. Estimates 2013 production of 3.6M-3.9M boe/day, with Q1 at 8.9 M-9.1M boe/day. Capex for 2013 is estimated at $260M.
1 Comment[Energy, On the Move]
Friday, January 4, 3:53 PM
Unseasonably high natural gas inventories going into mid-January support Sterne Agee's bearish outlook for gas amid what looks like another mild winter, as the firm suggests avoiding pure-play gas names such as Southwestern (SWN) and Ultra Petroleum (UPL). Only four companies have 40%-plus of 2013 estimated gas production hedged, the firm says: PXD, EGN, AREX, QEP.
2 Comments[Energy, Quick Ideas]
Monday, November 5, 2012, 6:19 PMApproach Resources (AREX): Q3 EPS of $0.01 misses by $0.04. Revenue of $33M (+18% Y/Y) misses by $0.5M. (PR)
Comment![Earnings, Energy]
Thursday, October 18, 2012, 12:32 PM
Natural gas prices likely will remain range-bound at $3-$4/MMbtu until there's a structural change on the demand side, Oppenheimer's Daniel Katzenberg says. But that doesn't mean the sector will be boring, as he anticipates M&A activity will pick up, expecting attention in Bakken and Permian names such as WLL, KOG, AREX and PXD.
2 Comments[Energy, M&A, Quick Ideas]
Wednesday, September 19, 2012, 8:41 AM
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.
Comment![Energy, On the Move]
Wednesday, June 27, 2012, 10:53 AM
Low natural gas prices have forced many energy producers to rely on related fuels such as ethane, propane and butane to remain profitable, but so many companies have increased drilling of wells with natural gas liquids that those prices also are falling. Among firms most likely to feel the crunch because of their greater dependence on NGLs, Wells Fargo says: CHK, DVN, RRC, AREX.
1 Comment[Energy, Quick Ideas]