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Approach Unveils $400 Million 2014 Midland Wolfcamp CapEx;
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Approach Resources Inc. reported estimated fourth quarter and full-year 2013 production and provided its 2014 outlook.
Fourth Quarter 2013 Highlights: Production was 11.3 MBoe/d, a 33% increase over the prior-year quarter Oil production was 475 MBbls, a 59% increase over the prior-year quarter Oil production represented 46% of total production Drilled 15 horizontal wells and placed 14 horizontal wells on production Estimated capital expenditures of $74.9 million Full-Year 2013 Highlights: Production was 9.4 MBoe/d, a 19% increase over the prior year Oil production was 1,444 MBbls, a 49% increase over the prior year Oil production represented 42% of total production Drilled 45 horizontal wells and placed 40 horizontal wells on production Est. Q4 and Full Year 2013 ProductionEstimated…
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