Approach Resources Inc. Reports Estimated 2012 Production, Provides Operations Update And 2013 Outlook And Schedules Fourth Quarter 2012 Conference Call
Commodity Derivatives Update
We enter into commodity derivatives positions to reduce the risk of commodity price fluctuations. For 2013, we have commodity derivatives positions covering 2,300 Bbls/d of oil for February 1, 2013, through December 31, 2013. The table below is a summary of our current derivatives positions.
| Commodity and Time Period | Contract Type | Volume Transacted | Contract Price | |||
| Crude Oil – 2013 | Collar | 650 Bbls/d | $90.00/Bbl – $105.80/Bbl | |||
| Crude Oil – 2013 | Collar | 450 Bbls/d | $90.00/Bbl – $101.45/Bbl | |||
| Crude Oil – February 2013 – December 2013 | Collar | 1,200 Bbls/d | $90.35/Bbl – $100.35/Bbl | |||
| Crude Oil – 2014 | Collar | 550 Bbls/d | $90.00/Bbl – $105.50/Bbl | |||
| Natural Gas – 2013 | Swap | 200,000 MMBtu/month | $3.54/MMBtu | |||
| Natural Gas – 2013 | Swap | 190,000 MMBtu/month | $3.80/MMBtu | |||
Conference Call Scheduled for February 22, 2013
Approach will host a conference call on Friday, February 22, 2013, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) to discuss fourth quarter and full year 2012 financial and operating results. The Company plans to issue fourth quarter and full year 2012 results after market close on Thursday, February 21, 2013.
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