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Approach Resources Details Full-year 2013 Financial Results

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February 26, 2014

Approach Resources Inc. (NasdaqGS: AREX) detailed year-end 2013 financial results Feb. 24.

Net income was $72.3 million, at $1.85 per diluted share, the company said, noting total revenue of $181.3 million.

Costs throughout 2013 totaled $297 million, and out of that amount, $250 million went to drilling and completions, $38 million went to pipeline and infrastructure, $8.3 million went to property and acreage acquisitions and lease extensions, and $7 million went to 3D seismic data, the company said.

At year’s end, $500 million was in revolving credit, and liquidity was ...


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