Approach Q3: Sets record low quarterly LOE at $3.49 per Boe
On Nov. 2, Permian operator Approach Resources (ticker: AREX) published several announcements including its Q3 2016 results and a privately-negotiated exchange of $130 million of 7.00% senior notes due 2021, followed by an exchange offer for the remaining $100 Million of 7.00% senior notes due 2021.

3Q Highlights

Production was 12.1 MBOEPD, exceeding prior guidance for the quarter
Record low quarterly lease operating expense (LOE) was $3.49 per Boe
Third quarter well c...

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