FORT WORTH, Texas--(BUSINESS WIRE)--Dec. 10, 2018--
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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181210005743/en/
Source: Approach Resources Inc.
Vice President Investor
Relations and Corporate Communication