6 June 2011director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft had 5,050 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 June 2011agm notice● Neutral
Approach Resources Inc shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
18 May 2011securities registration● Neutral
Approach Resources Inc filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
10 May 2011director interest notice● Neutral
Approach Resources Inc EVP - Bus. Dev. & Geosciences Qingming Yang had 3,086 shares withheld for taxes on vesting stock.
10 May 2011director interest notice● Neutral
Approach Resources Inc director Bryan H Lawrence disposed of 1,078,039 shares via option/appreciation-right settlement.
5 May 2011quarterly activities report● Neutral
Approach Resources Inc reported a quarterly net income of $8.0 million for the period ended 2011-06-30.
4 May 2011debt financing▲ GoodMajor
A tenth amendment, effective May 4, 2011, raises the borrowing base from $150 million to $200 million and the maximum commitment from $200 million to $300 million. Maturity moves to July 31, 2014, the debt-to-EBITDAX covenant loosens from 3.5x to 4x, interest margins fall, up to $200 million of senior unsecured debt is permitted, and Royal Bank of Canada joins as a fifth lender. Fees paid were a $150,000 arrangement fee and a $675,000 commitment fee.
4 May 2011quarterly activities report● Neutral
Approach Resources Inc reported a quarterly net income of $8.0 million for the period ended 2011-06-30.
21 Apr 2011agm notice● Neutral
Approach Resources Inc shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
7 Apr 2011director interest notice● Neutral
Approach Resources Inc Vice President - Engineering Buckler William Stanley III received 4,154 shares as part of the equity award.
5 Apr 2011director interest notice● Neutral
Approach Resources Inc director Christopher J. Whyte received 274 shares as part of the equity award.
5 Apr 2011director interest notice● Neutral
Approach Resources Inc director Sheldon B Lubar received 274 shares as part of the equity award.
5 Apr 2011director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 424 shares as part of the equity award.
5 Apr 2011director interest notice● Neutral
Approach Resources Inc director James C Crain received 274 shares as part of the equity award.
16 Mar 2011director interest notice● Neutral
Approach Resources Inc director Bryan H Lawrence disposed of 940,979 shares via option/appreciation-right settlement.
16 Mar 2011director interest notice● Neutral
Approach Resources Inc 10%+ owner Yorktown V CO LLC disposed of 940,979 shares via option/appreciation-right settlement.
16 Mar 2011director interest notice● Neutral
Approach Resources Inc 10%+ owner Yorktown Energy Partners V LP disposed of 940,979 shares via option/appreciation-right settlement.
9 Mar 2011director interest notice● Neutral
Approach Resources Inc President & CEO J. Ross Craft received 61,200 shares as part of the equity award.
9 Mar 2011director interest notice● Neutral
Approach Resources Inc EVP & General Counsel J Curtis Henderson received 35,700 shares as part of the equity award.
9 Mar 2011director interest notice● Neutral
Approach Resources Inc EVP - Land Ralph P. Manoushagian received 35,700 shares as part of the equity award.
9 Mar 2011quarterly activities report● Neutral
Approach Resources Inc reported a quarterly net income of $1.5 million for the period ended 2011-03-31.
9 Mar 2011director interest notice● Neutral
Approach Resources Inc EVP & CFO Steven P. Smart received 35,700 shares as part of the equity award.
9 Mar 2011director interest notice● Neutral
Approach Resources Inc EVP - Bus. Dev. & Geosciences Qingming Yang received 35,700 shares as part of the equity award.
2 Mar 2011quarterly activities report● Neutral
Approach Resources Inc reported a quarterly net income of $1.5 million for the period ended 2011-03-31.
1 Mar 2011asset acquisition disposition▲ GoodMajor
Approach's subsidiary agreed on February 23, 2011 to buy a further 38.33% working interest in Cinco Terry (Crockett County, Texas) from J. Cleo Thompson & James Cleo Thompson, Jr., L.P. and Wes-Tex Drilling Company, L.P. for $76.0 million, and completed it February 28. It was funded partly by a $67 million draw on the credit facility at 4.75% interest, leaving about $82.7 million available. This continues the Cinco Terry buildup begun with the October 2010 purchase from Magnum Hunter, and financial statements for the assets are due by May 11, 2011.
14 Feb 2011substantial holder notice● Neutral
Janus Capital Management LLC EIN # disclosed a new substantial Approach Resources Inc shareholding (5.50% of votes).
14 Jan 2011material agreement● Neutral
Approach subsidiaries signed a Gas Purchase Contract with DCP Midstream, LP dated January 1, 2011, under which DCP will buy and process the companies' natural gas and natural gas liquids. Residue gas is priced off the Waha index and liquids off Mont Belvieu spot prices, each less fees. The term runs to January 31, 2016, then renews annually unless cancelled on 60 days' notice.
4 Jan 2011director interest notice● Neutral
Approach Resources Inc director Sheldon B Lubar received 2,523 shares as part of the equity award.
4 Jan 2011director interest notice● Neutral
Approach Resources Inc director James C Crain received 2,628 shares as part of the equity award.
4 Jan 2011director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 2,471 shares as part of the equity award.