3 Jan 2018director interest notice● Neutral
Approach Resources Inc director Matthew Kahn received 20,541 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Jan 2018director interest notice● Neutral
Approach Resources Inc director James C Crain received 21,735 shares as part of the equity award.
3 Jan 2018director interest notice● Neutral
Approach Resources Inc 10%+ owner Wilks Brothers, LLC bought 150,000 shares on the open market at $3.09.
3 Jan 2018director interest notice● Neutral
Approach Resources Inc director Vean J. Gregg III received 19,745 shares as part of the equity award.
3 Jan 2018director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 16,560 shares as part of the equity award.
2 Jan 2018director interest notice● Neutral
Approach Resources Inc CEO J. Ross Craft had 30,652 shares withheld for taxes on vesting stock.
2 Jan 2018director interest notice● Neutral
Approach Resources Inc President & COO Qingming Yang had 23,294 shares withheld for taxes on vesting stock.
2 Jan 2018director interest notice● Neutral
Approach Resources Inc Chief Administrative Officer J Curtis Henderson had 17,217 shares withheld for taxes on vesting stock.
2 Jan 2018director interest notice● Neutral
Approach Resources Inc EVP & Chief Financial Officer Sergei Krylov had 22,281 shares withheld for taxes on vesting stock.
29 Dec 2017substantial holder notice● Neutral
Wilks Brothers, LLC, SDW Investments, LLC, Dan H. Wilks, Staci Wilks, Farris Wilks reported a Approach Resources Inc shareholding of 44,089,713 shares (46.86% of votes) in a periodic institutional filing.
28 Dec 2017director interest notice● Neutral
Approach Resources Inc 10%+ owner Wilks Brothers, LLC bought 350,000 shares on the open market.
22 Dec 2017director interest notice● Neutral
Approach Resources Inc 10%+ owner Wilks Brothers, LLC bought 600,000 shares on the open market.
19 Dec 2017director interest notice● Neutral
Approach Resources Inc 10%+ owner Wilks Brothers, LLC bought 550,000 shares on the open market.
19 Dec 2017substantial holder notice● Neutral
Wilks Brothers, LLC, SDW Investments, LLC, Dan H. Wilks, Staci Wilks, Farris Wilks reported a Approach Resources Inc shareholding of 43,139,713 shares (45.85% of votes) in a periodic institutional filing.
13 Dec 2017director interest notice● Neutral
Approach Resources Inc 10%+ owner Wilks Brothers, LLC bought 660,113 shares on the open market.
20 Nov 2017auditor change● Neutral
Approach's auditor Hein & Associates combined with Moss Adams on Nov 16, 2017, so Hein resigned and the audit committee engaged Moss Adams as the new auditor. The filing says Hein's reports for 2015 and 2016 were clean and there were no disagreements, so this is a routine change.
2 Nov 2017capital raising announcement● NeutralMajor
Approach reported Q3 2017 results (revenue $25.6M, net loss $8.5M, production 11.5 MBoe/d, liquidity $32.7M against a $325M borrowing base). It also agreed to buy Wolfcamp shale assets next to its Pangea West acreage from Amistad Energy Partners, a Kayne Anderson portfolio company, paying 7,573,215 new shares valued at $18.05M; closing is expected in Q4 2017. The share issue adds to the share count, and the filing says completion of additional wells was deferred to Q1 2018.
What it means for a shareholder
7.6m new shares at $18.05 to raise about $137m. That's 8.0% dilution: every existing holder's slice gets 8.0% smaller. If you held $1,000 of shares (55 at the issue price), your slice goes from 0.000064% to 0.0000589% of the company. To keep it you'd need 5 more shares - about $90 at the issue price.
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2 Nov 2017quarterly activities report● Neutral
Approach Resources Inc reported quarterly revenue of $28.4 million and net income of $45.8 million for the period ended 2017-12-31.
19 Oct 2017quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $25.6 million and a net loss of $8.5 million for the period ended 2017-09-30.
3 Oct 2017director interest notice● Neutral
Approach Resources Inc director Matthew Kahn received 4,863 shares as part of the equity award.
3 Oct 2017director interest notice● Neutral
Approach Resources Inc director James C Crain received 6,322 shares as part of the equity award.
3 Oct 2017director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 6,322 shares as part of the equity award.
27 Sept 2017securities registration● Neutral
Approach Resources Inc amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
15 Sept 2017securities registration● Neutral
Approach Resources Inc registered a securities offering with the SEC using its shelf eligibility.
3 Aug 2017quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $25.6 million and a net loss of $8.5 million for the period ended 2017-09-30.
2 Aug 2017quarterly activities report▼ Bad
Approach Resources Inc reported quarterly revenue of $25.6 million and a net loss of $8.5 million for the period ended 2017-09-30.
5 July 2017director interest notice● Neutral
Approach Resources Inc director Alan D Bell received 4,603 shares as part of the equity award.
5 July 2017director interest notice● Neutral
Approach Resources Inc director Matthew Kahn received 3,541 shares as part of the equity award.
5 July 2017director interest notice● Neutral
Approach Resources Inc director James C Crain received 4,603 shares as part of the equity award.
5 July 2017director interest notice● Neutral
Approach Resources Inc director James H Brandi received 3,541 shares as part of the equity award.