Approach Resources (AREX) Reports In-Line Q1 EPS
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Approach Resources Inc. Reports First Quarter 2016 Results
May 4, 2016 4:31 PM EDTFORT WORTH, Texas--(BUSINESS WIRE)-- Approach Resources Inc. (NASDAQ: AREX) today reported results for first quarter 2016. Highlights for first quarter 2016 include:
Production was 12.8 MBoe/d, a 10% decrease from the prior-year quarter Revenues totaled $17.6 million, EBITDAX (non-GAAP) was $8.7 million Adjusted net loss (non-GAAP) was $13.0 million, or $0.32 per diluted share Per-unit cash operating expenses (non-GAAP) decreased 13% from the prior-year quarter to $10.74 per Boe Drilled four horizontal wells during first quarter, and plan to resume completion activities during second quarter 2016... More