This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: AREX

The following table provides a reconciliation of EBITDAX to net (loss) income for the three and twelve months ended December 31, 2012 and 2011, respectively (in thousands, except per-share amounts).

    Three Months Ended     Twelve Months Ended
December 31, December 31,
  2012       2011     2012       2011  
Net (loss) income $ (837 ) $ (9,285 ) $ 6,384 $ 7,242
Exploration 2,131 2,669 4,550 9,546
Impairment 18,476 18,476
Depletion, depreciation and amortization 18,027 10,080 60,381 32,475
Share-based compensation 2,472 1,046 7,465 4,683
Unrealized (gain) loss on commodity derivatives (1,292 ) 4,168 (3,874 ) 347
Loss (gain) on sale of oil and gas properties 243 (248 )
Interest expense, net 926 1,010 4,737 3,402
Income tax (benefit) provision   (781 )     (5,632 )   3,338       3,488  
EBITDAX $ 20,646     $ 22,775   $ 82,981     $ 79,411  
EBITDAX per diluted share $ 0.53     $ 0.74   $ 2.37     $ 2.72  


The present value of our proved reserves, discounted at 10% (“PV-10”), was estimated at $830.9 million at December 31, 2012, and was calculated based on the first-of-the-month, twelve-month average prices for oil, NGLs and gas, of $94.71 per Bbl of oil, $37.88 per Bbl of NGLs and $2.74 per MMBtu of natural gas, respectively.

9 of 13

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs