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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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