- Production up 24% to 7.9 MBoe/d, and oil production up 101% to 969 MBbls
- Total proved reserves increased 24% to 95.5 MMBoe, and oil proved reserves increased 106% to 37.3 MMBbls
- PV-10 (non-GAAP) increased 22% to $830.9 million
- Reserve replacement ratio of 1,346% at a competitive drill-bit finding and development (“F&D”) cost of $7.45 per Boe
- Over 2,000 identified horizontal locations targeting the Wolfcamp oil shale in the Midland Basin
- Increases gross resource potential to over 1 billion Boe
Approach Resources Inc. Reports Full Year And Fourth Quarter 2012 Results, Announces 2012 Proved Reserves And Increases Horizontal Wolfcamp Shale Drilling Inventory And Resource Potential
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