Approach Resources Inc. presents at EnerCom’s The Oil & Gas Conference®
During Approach Resources’ breakout session, management was asked the following questions:
- What types of completions are you doing to drive down costs?
- What type of sand loadings are you using for your proppant?
- Can you share some more on acreage pricing?
- What do you think about amount of proppant EP is using around you guys?
- What is the cost of the wells?
- What is the IRR for the wells?
- As you look into 2017 what are your thoughts on budget?
- Have you given any consideration to expanding to any other basins?
- Do you see any need to raise capital?
- When is your facility due?
- What is the percentage utilization of your midstream?
- Could you today process third party water?
- Are your current water facilities permitted for just your use or also third party?
- Has production remained the same from last year to this year?
- What does Wall Street think the future of Approach should do?
- If the commodity price does not come back, what is the next step for Approach?
You can listen to Approach Resources’ presentation by clicking here.
For the company’s quarterly results, click here.
Approach Resources Inc. has extensive experience drilling for oil and natural gas in the Permian Basin. Focusing on the Wolfcamp shale oil resource play allows the company to use their operating, technical and regional expertise important to interpreting geological and operating trends, enhancing production rates and maximizing well recovery. Approach’s concentrated acreage position in the Midland Basin enables them to capture economies of scale and operating efficiencies.
Through investment in field infrastructure systems, the company has reduced drilling and completion costs, per-unit lease operating expense and fresh water use. Approach also drills multiple wells from a single pad, which reduces facilities costs and surface impact. The company operates 100% of their reserve base, which allows them to better manage timing and risk.
Approach continually reviews opportunities to acquire producing properties, undeveloped acreage and drilling prospects in their existing core area in the Permian Basin. The company remains focused on unconventional resource opportunities, but will also look at conventional opportunities based on individual project economics. Approach believes that their strong balance sheet and liquidity provide them with significant financial flexibility to pursue strategic and financial objectives.
