1 Nov 2013director interest notice● Neutral
Approach Resources Inc EVP - Land Ralph P. Manoushagian sold 722 shares at $28.06.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Nov 2013director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft sold 2,500 shares at $28.06.
11 Oct 2013asset acquisition disposition▲ GoodMajor
On October 7, 2013 Approach closed the sale of its 50% stake in Wildcat Permian Services to a JP Energy subsidiary, resolving the September 2013 agreement. Base consideration was $213.2 million after adjustments, and Approach's net proceeds at closing were about $109.1 million, including $6 million for signing an amendment to its crude oil purchase agreement. That amendment widens the dedicated area to parts of Crockett and Schleicher Counties, gives Approach priority rights to pipeline capacity, and has JP Energy guarantee Wildcat's obligations. Approach says it plans to use net operating loss carryforwards to reduce cash taxes on the gain.
8 Oct 2013director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft sold 6,672 shares at $30.00.
8 Oct 2013director interest notice● Neutral
Approach Resources Inc EVP & General Counsel J Curtis Henderson sold 10,000 shares at $30.00.
8 Oct 2013director interest notice● Neutral
Approach Resources Inc EVP & CFO Steven P. Smart sold 3,400 shares at $30.00.
8 Oct 2013director interest notice● Neutral
Approach Resources Inc EVP - Land Ralph P. Manoushagian sold 2,888 shares at $30.00.
3 Oct 2013director interest notice● Neutral
Approach Resources Inc EVP - Land Ralph P. Manoushagian sold 1,444 shares at $28.00.
3 Oct 2013director interest notice● Neutral
Approach Resources Inc EVP & CFO Steven P. Smart sold 1,700 shares at $28.00.
3 Oct 2013director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft sold 5,000 shares at $28.00.
2 Oct 2013director interest notice● Neutral
Approach Resources Inc director James C Crain received 436 shares as part of the equity award.
2 Oct 2013director interest notice● Neutral
Approach Resources Inc director Sheldon B Lubar received 436 shares as part of the equity award.
2 Oct 2013director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 567 shares as part of the equity award.
2 Oct 2013director interest notice● Neutral
Approach Resources Inc director Christopher J. Whyte received 436 shares as part of the equity award.
19 Sept 2013material agreement▲ GoodMajor
On September 18, 2013 Approach, through its subsidiary Approach Midstream Holdings, agreed with JP Energy to sell its 50% interest in Wildcat Permian Services (the crude pipeline business it held an interest in since September 2012) as part of a $210 million sale of the whole company. Approach's cash proceeds are stated as $108 million before taxes, and closing depends on conditions including an amendment to the crude oil purchase agreement. The deal can be terminated if not closed by October 18, 2013.
5 Aug 2013director interest notice● Neutral
Approach Resources Inc EVP - Land Ralph P. Manoushagian sold 1,444 shares at $28.00.
5 Aug 2013director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft sold 5,000 shares at $28.00.
5 Aug 2013director interest notice● Neutral
Approach Resources Inc EVP & General Counsel J Curtis Henderson sold 10,000 shares at $28.00.
5 Aug 2013director interest notice● Neutral
Approach Resources Inc EVP & CFO Steven P. Smart sold 1,700 shares at $28.00.
2 Aug 2013quarterly activities report● Neutral
Approach Resources Inc reported a quarterly net income of $495 thousand for the period ended 2013-09-30.
2 Aug 2013quarterly activities report● Neutral
Approach Resources Inc reported a quarterly net income of $495 thousand for the period ended 2013-09-30.
16 July 2013director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft sold 9,000 shares at $25.97.
2 July 2013director interest notice● Neutral
Approach Resources Inc director Sheldon B Lubar received 495 shares as part of the equity award.
2 July 2013director interest notice● Neutral
Approach Resources Inc director James C Crain received 495 shares as part of the equity award.
2 July 2013director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 643 shares as part of the equity award.
2 July 2013director interest notice● Neutral
Approach Resources Inc director Christopher J. Whyte received 495 shares as part of the equity award.
14 June 2013director interest notice● Neutral
Approach Resources Inc EVP & CFO Steven P. Smart sold 5,000 shares at $24.78.
14 June 2013director interest notice● Neutral
Approach Resources Inc EVP - Land Ralph P. Manoushagian sold 6,000 shares at $24.76.
11 June 2013debt financing● NeutralMajor
On June 6, 2013 Approach agreed to sell $250 million of 7.00% Senior Notes due 2021 through J.P. Morgan Securities, and completed the sale on June 11, 2013. It expects net proceeds of about $243 million, to repay revolving credit facility debt, fund capital spending and cover working capital. This uses the room for unsecured notes created by the November 2012 credit amendment; the notes are guaranteed by subsidiaries and interest is payable each June 15 and December 15, starting December 15, 2013. The filing notes that affiliates of some underwriters are lenders under the credit facility and will receive part of the proceeds.
7 June 2013securities registration● Neutral
Approach Resources Inc filed a prospectus supplement for an offering off its existing shelf.