Lease operating expenses increased in 2012 compared to 2011 primarily due to higher workover, compression, water hauling, well repair and maintenance expenses. Production and ad valorem taxes increased due to our increase in oil, NGL and gas sales. General and administrative expenses increased primarily due to higher share-based compensation as well as salaries and benefits, a result of increased staffing. Depletion, depreciation and amortization expense increased primarily due to higher production and oil and gas property carrying costs, relative to estimated proved developed reserves. Higher oil and gas property carrying costs primarily reflect our development of our oil-focused Wolfcamp shale play.Fourth Quarter 2012 Financial Results
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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