Approach Resources Announces Reaffirmation of Borrowing Base
December 10 2018 - 4:30PM
Business Wire
Approach Resources Inc. (NASDAQ: AREX) today announced it
has completed its fall 2018 semiannual borrowing base
redetermination of its revolving credit facility. The borrowing
base was unanimously reaffirmed by the bank group at $325 million.
Under the terms of the credit agreement, the bank group
redetermines the borrowing base semiannually using the banks’
estimates of reserves and future oil and gas prices. The next
borrowing base redetermination is scheduled to occur in April
2019.
About Approach Resources
Approach Resources Inc. (“Approach” or the “Company”) is
an independent energy company focused on the exploration,
development, production and acquisition of unconventional oil and
gas reserves in the Midland Basin of the greater Permian Basin in
West Texas. For more information about the Company, please visit
www.approachresources.com. Please note that the Company routinely
posts important information about the Company under the Investor
Relations section of its website.
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INVESTOR CONTACTSuzanne OgleVice President Investor Relations
and Corporate Communicationir@approachresources.com817.989.9000
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