EBITDAX (non-GAAP) for fourth quarter 2012 was $20.6 million, or $0.53 per diluted share, compared to $22.8 million, or $0.74 per diluted share, for fourth quarter 2011. See “Supplemental Non-GAAP Financial and Other Measures” below for our reconciliation of EBITDAX to net (loss) income.Average realized commodity prices for fourth quarter 2012, before the effect of commodity derivatives, were $78.27 per Bbl of oil, $30.27 per Bbl of NGLs and $3.22 per Mcf of natural gas, compared to $85.56 per Bbl of oil, $51.71 per Bbl of NGLs and $3.19 per Mcf of natural gas for fourth quarter 2011. Our average realized price, including the effect of commodity derivatives, was $44.50 per Boe for fourth quarter 2012, down 12% compared to $50.63 per Boe for fourth quarter 2011.
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
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.