The DIP financing is subject to court approval. Upon court approval, the Company’s DIP financing will be provided by its current syndicate of RBL lenders, with
The Company has selected
Information regarding the Company’s restructuring, including Court filings and information about the claims process, is available on the Company’s restructuring website at https://dm.epiq11.com/approachresources. Additional questions can be directed to the Company’s toll-free restructuring hotline at (855) 930-0678.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include expectations of anticipated financial and operating results. These statements are based on certain assumptions made by the Company based on management’s experience, perception of historical trends and technical analyses, current conditions, anticipated future developments and other factors believed to be appropriate and reasonable by management. When used in this press release, the words “will,” “potential,” “believe,” “estimate,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “plan,” “predict,” “project,” “profile,” “model” or their negatives, other similar expressions or the statements that include those words, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These assumptions, risks and uncertainties include, but are not limited to, risks attendant to the bankruptcy process, including the Company’s ability to obtain the approval of the bankruptcy court with respect to motions filed in the Company's cases under Chapter 11 (the "Cases"); the Company’s ability to continue as a going concern; the Company’s ability to successfully complete a marketing and sales process under Chapter 11; potential adverse effects of the Cases on the Company’s liquidity and results of operations; employee attrition and the Company’s ability to retain senior management and other key personnel due to the distractions and uncertainties associated with the Cases, including the Company’s ability to provide adequate compensation and benefits during the Cases; the Company’s ability to comply with restrictions imposed by the DIP financing and other financing arrangements; the Company’s ability to maintain relationships with suppliers, customers, employees and other third parties and regulatory authorities as a result of the Cases; the outcomes of bankruptcy court rulings and the Cases in general; the length of time that the Company may be required to operate in bankruptcy; the Company’s ability to execute plans and the results of such plans if executed; risks associated with third party motions in the Cases, which may interfere with the Company’s ability to consummate a sale; increased administrative and legal costs related to the Cases and other litigation; and inherent risks involved in a bankruptcy process. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, the Company’s actual results may differ materially from those implied or expressed by the forward-looking statements. Further information on assumptions, risks and uncertainties related to the Company is available in the Company’s
Approach Resources Inc.
One Ridgmar Centre
Attn: Investor Relations
6500 West Freeway, Suite 800
Fort Worth, Texas 76116