Operational Updates
Approach Resources Inc. Announces Preliminary Second Quarter Production and Provides Mid-Year Reserves Update
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Approach Resources Inc. today announced preliminary production, commodity price realizations and capital expenditures for second quarter 2012 and provided a mid-year 2012 reserves update. Highlights include:
Total production up 16% to 7.7 MBoe/d Oil production increases 120% to 230 MBbls, and total liquids production increases 33% to 453 MBbls Total proved reserves up 9% to 83.7 MMBoe Oil proved reserves increase 30% to 23.5 MMBbls, and total liquids proved reserves increase 13% to 53.4 MMBoeEstimated second quarter 2012 production totaled 702 MBoe (7.7 MBoe/d), compared to 608 MBoe (6.7 MBoe/d) produced in second quarter 2011, a 16% increase. Estimated second quarter 2012 production increased 7%, compared to first quarter 2012 production of 654 MBoe (7.2 MBoe/d). Estimated oil…
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