Operational Updates
Approach Reports Wolfcamp Operations Impacted By Midstream Downtime
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Approach Resources announced preliminary production, commodity prices and capital expenditures for third quarter 2012. Highlights compared to prior-year period include:
Total production up 22% to 8.1 MBoe/d
Oil production increases 113% to 250 MBbls
Third Quarter 2012 Production
Estimated third quarter 2012 production totaled 747 MBoe (8.1 MBoe/d), compared to 612 MBoe (6.7 MBoe/d) produced in third quarter 2011, a 22% increase. Estimated third quarter 2012 production also increased 7% over second quarter 2012 production of 702 MBoe (7.7 MBoe/d). Estimated oil production for third quarter 2012 increased 113% to 250 MBbls, compared to 117 MBbls produced in third quarter 2011. Estimated production for third quarter 2012 was 34% oil, 31% NGLs and 35% natural gas, compared to 19% oil, 38%…
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