6 June 2013securities registration● Neutral
Approach Resources Inc filed a free-writing prospectus - marketing material for an offering in progress.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 June 2013securities registration● Neutral
Approach Resources Inc amended its automatic shelf registration statement.
3 June 2013securities registration● Neutral
Approach Resources Inc filed a preliminary prospectus supplement for a proposed $250 million offering of senior notes due 2021, under its existing shelf registration. The notes would be guaranteed by certain domestic subsidiaries, with pricing and interest rate still to be set.
31 May 2013agm notice● Neutral
Approach Resources Inc shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
8 May 2013director interest notice● Neutral
Approach Resources Inc Chief Operating Officer Qingming Yang had 4,941 shares withheld for taxes on vesting stock.
3 May 2013debt financing▲ Good
Effective May 1, 2013, a fifteenth credit agreement amendment raised the borrowing base to $315 million from $280 million, raised the lenders' maximum commitment to $500 million from $300 million, and pushed maturity out two years to July 31, 2016 (from July 2014). The same filing carries first-quarter 2013 results: production up 15% to 8.4 MBoe/d, revenues up 19% to $36.3 million, and a net loss of $347,000 ($0.01 per share) versus net income of $1.7 million a year earlier. It also says oil began flowing down the joint venture pipeline on April 3, 2013.
3 May 2013quarterly activities report● Neutral
Approach Resources Inc reported a net loss of $347,000 ($0.01 per share) for the quarter ended March 31, 2013, versus net income of $1.7 million a year earlier. Revenues rose to $36.3 million from $30.6 million.
24 Apr 2013agm notice● Neutral
Approach Resources Inc sent stockholders notice and a proxy statement for its annual meeting on May 30, 2013. Stockholders were asked to elect two directors, hold an advisory vote on executive pay, and ratify Hein & Associates as auditor.
15 Apr 2013quarterly activities report▼ Bad
Approach reported preliminary first quarter 2013 production of 754 MBoe (8.4 MBoe/d), up 15% on a year earlier, despite a third-party NGL fractionation outage. It began flowing oil down its 38-mile joint venture pipeline on April 3, 2013.
2 Apr 2013director interest notice● Neutral
Approach Resources Inc director James C Crain received 510 shares as part of the equity award.
2 Apr 2013director interest notice● Neutral
Approach Resources Inc director Sheldon B Lubar received 510 shares as part of the equity award.
2 Apr 2013director interest notice● Neutral
Approach Resources Inc director Christopher J. Whyte received 510 shares as part of the equity award.
2 Apr 2013director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 663 shares as part of the equity award.
22 Feb 2013director interest notice● Neutral
Approach Resources Inc Chief Operating Officer Qingming Yang received 40,408 shares as part of the equity award.
22 Feb 2013director interest notice● Neutral
Approach Resources Inc EVP & CFO Steven P. Smart received 25,714 shares as part of the equity award.
22 Feb 2013quarterly activities report▼ Bad
Approach reported 2012 net income of $6.4 million on revenues of $128.9 million, and a fourth quarter net loss of $837,000. Proved reserves rose 24% to 95.5 MMBoe, and oil reserves rose 106% to 37.3 MMBbls.
22 Feb 2013substantial holder notice● Neutral
The Vanguard Group reported a Approach Resources Inc shareholding of 2,095,566 shares (5.43% of votes) in a periodic institutional filing.
22 Feb 2013director interest notice● Neutral
Approach Resources Inc EVP & General Counsel J Curtis Henderson received 33,061 shares as part of the equity award.
22 Feb 2013director interest notice● Neutral
Approach Resources Inc EVP - Land Ralph P. Manoushagian received 18,367 shares as part of the equity award.
22 Feb 2013director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft received 66,122 shares as part of the equity award.
14 Feb 2013quarterly activities report▼ Bad
Approach reported estimated 2012 production up 24% to 7.9 MBoe/d, with oil production up 101% to 969 MBbls. It guided 2013 production to 3,600-3,900 MBoe and capital spending to about $260 million.
13 Feb 2013substantial holder notice● Neutral
The Vanguard Group disclosed a new substantial Approach Resources Inc shareholding (5.37% of votes).
7 Feb 2013substantial holder notice● Neutral
FIRST MANHATTAN CO reported a Approach Resources Inc shareholding of 4,276,671 shares (11.10% of votes) in a periodic institutional filing.
6 Feb 2013substantial holder notice● Neutral
BlackRock, Inc reported a Approach Resources Inc shareholding of 2,580,416 shares (6.70% of votes) in a periodic institutional filing.
6 Feb 2013substantial holder notice● Neutral
FIRST MANHATTAN CO reported a Approach Resources Inc shareholding of 3,536,181 shares (9.18% of votes) in a periodic institutional filing.
24 Jan 2013director interest notice● Neutral
Approach Resources Inc Chief Operating Officer Qingming Yang had 5,124 shares withheld for taxes on vesting stock.
3 Jan 2013director interest notice● Neutral
Approach Resources Inc director James H Brandi received 3,672 shares as part of the equity award.
3 Jan 2013director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 3,721 shares as part of the equity award.
3 Jan 2013director interest notice● Neutral
Approach Resources Inc director James C Crain received 3,576 shares as part of the equity award.
3 Jan 2013director interest notice● Neutral
Approach Resources Inc director Christopher J. Whyte received 3,576 shares as part of the equity award.