Approach Resources Breakout Notes
Qingming Yang, President and COO of Approach Resources, Inc., (ticker: AREX) presented today at EnerCom’s The Oil & Gas Conference® 22.
Approach Resources is a Permian pure-play operating company targeting the Wolfcamp. In the Permian, Approach holds approximately 138,000 gross acres.
During Q2, Approach’s average production—11.9 MBOEPD—exceeded its Q2 production guidance. The company drilled eight wells and completed five. The company’s Q2 capital expenditures totaled $24.2 million—$23.8 million of which was dedicated to drilling and completion activities.
During the company’s breakout session, management was asked the following questions:
- Are you going to buy back stock?
- What is the basis of the high EUR for your reserve prediction?
- What is the longest production on the projected wells?
- Is the increased production due to longer laterals or improved fracture design?
- What type of completions/fracturing method do you use? Plug and perf or sliding sleeve?
- How does your GOR change over time?
- What is your drilling and completions cost estimate?
- How has the cost of service companies impacted your company?
- Are you looking at any options for midstream?
- Can you give any guidance on your earnings?
Approach presented at EnerCom’s 2017 The Oil & Gas Conference®.
You can listen to the company’s presentation by clicking here.
