Approach Resources Inc. (AREX) Financial Statements (2024 and earlier)
Company Profile
Business Address |
ONE RIDGMAR CENTRE FORT WORTH, TX 76116 |
State of Incorp. | DE |
Fiscal Year End | December 31 |
Industry (SIC) | 1311 - Crude Petroleum and Natural Gas (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
9/30/2019 MRQ | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 22 | 21 | 21 | 600 | 432 | 58,761 | |||
Cash and cash equivalents | 22 | 21 | 21 | 600 | 432 | 58,761 | |||
Receivables | 6,799 | 9,795 | 9,639 | 11,889 | 19,767 | 22,871 | |||
Derivative instruments and hedges, assets | 5,946 | 1,398 | 6,737 | 39,951 | 250,000 | ||||
Deferred tax assets | ✕ | 110,700 | 91,900 | ||||||
Other undisclosed current assets | 3,458 | 5,486 | 2,834 | 1,212 | (109,771) | (333,119) | |||
Total current assets: | 16,225 | 16,700 | 12,494 | 20,438 | 61,079 | 90,413 | |||
Noncurrent Assets | |||||||||
Property, plant and equipment | (382,180) | ||||||||
Oil and gas property, successful effort method | 1,068,422 | 1,082,876 | 1,092,061 | 1,154,546 | 1,331,659 | ||||
Other noncurrent assets | 8,689 | 8,041 | |||||||
Deferred tax assets, net | ✕ | 14,200 | 700 | ||||||
Other undisclosed noncurrent assets | 367,980 | 1,046,330 | |||||||
Total noncurrent assets: | 1,068,422 | 1,082,876 | 1,092,061 | 1,154,546 | 1,340,348 | 1,055,071 | |||
TOTAL ASSETS: | 1,084,647 | 1,099,576 | 1,104,555 | 1,174,984 | 1,401,427 | 1,145,484 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 16,109 | 17,523 | 17,299 | 24,263 | 84,074 | 37,918 | |||
Accounts payable | 9,768 | 9,450 | 9,482 | 10,799 | 33,336 | ||||
Accrued liabilities | 6,341 | 8,073 | 7,817 | 13,464 | 50,738 | 37,918 | |||
Derivative instruments and hedges, liabilities | 2,181 | 4,880 | 1,847 | ||||||
Deferred tax liabilities | ✕ | 14,242 | |||||||
Other undisclosed current liabilities | 4,968 | 5,363 | 4,190 | 4,245 | 8,536 | 44,676 | |||
Total current liabilities: | 21,077 | 25,067 | 26,369 | 28,508 | 106,852 | 84,441 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 84,486 | 84,185 | 226,653 | 225,839 | 250,000 | 250,000 | |||
Long-term debt, excluding current maturities | 84,486 | 84,185 | 226,653 | 225,839 | 250,000 | 250,000 | |||
Liabilities, other than long-term debt | 11,511 | 93,633 | 16,885 | 41,922 | 120,248 | 100,548 | |||
Asset retirement obligations | 11,424 | 11,065 | 10,607 | 10,143 | 9,571 | 8,350 | |||
Deferred tax liabilities, net | ✕ | 82,102 | 5,615 | 31,779 | 110,677 | 91,883 | |||
Other liabilities | 87 | 466 | 663 | ||||||
Derivative instruments and hedges, liabilities | 315 | ||||||||
Other undisclosed noncurrent liabilities | 378,328 | 289,275 | 271,696 | 270,748 | 150,000 | ||||
Total noncurrent liabilities: | 474,325 | 467,093 | 515,234 | 538,509 | 520,248 | 350,548 | |||
Total liabilities: | 495,402 | 492,160 | 541,603 | 567,017 | 627,100 | 434,989 | |||
Equity | |||||||||
Equity, attributable to parent | 589,245 | 607,416 | 562,952 | 607,967 | 774,327 | 710,495 | |||
Common stock | 950 | 945 | 418 | 408 | 399 | 390 | |||
Additional paid in capital | 744,126 | 742,391 | 586,095 | 580,623 | 572,888 | 565,237 | |||
Retained earnings (accumulated deficit) | (155,831) | (135,920) | (23,561) | 26,936 | 201,040 | 144,868 | |||
Total equity: | 589,245 | 607,416 | 562,952 | 607,967 | 774,327 | 710,495 | |||
TOTAL LIABILITIES AND EQUITY: | 1,084,647 | 1,099,576 | 1,104,555 | 1,174,984 | 1,401,427 | 1,145,484 |
Income Statement (P&L) ($ in thousands)
9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
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Revenues | 114,035 | 105,349 | 90,302 | 131,336 | 256,983 | 181,302 | ||
Revenue, net | ✕ | ✕ | 105,349 | 90,302 | 131,336 | 258,529 | 181,302 | |
Cost of revenue | (17,902) | (19,250) | (28,972) | (155,437) | (199,691) | |||
Cost of goods and services sold | (17,902) | (19,250) | (28,972) | (32,701) | ||||
Gross profit: | 114,035 | 87,447 | 71,052 | 102,364 | 101,546 | (18,389) | ||
Operating expenses | (112,826) | (125,057) | (135,168) | (403,789) | (35,935) | 61,981 | ||
Other undisclosed operating income | 17,902 | 19,250 | 28,972 | 1,546 | ||||
Operating income (loss): | 1,209 | (19,708) | (44,866) | (272,453) | 67,157 | 43,592 | ||
Nonoperating income (expense) | (29) | 32 | 7,643 | 52,661 | 2,359 | (1,048) | ||
Investment income, nonoperating | 6,132 | 52,489 | 2,359 | (1,048) | ||||
Other nonoperating income (expense) | (29) | 32 | 1,511 | 172 | ||||
Interest and debt expense | (25,117) | (16,000) | (27,822) | (14,503) | (21,651) | |||
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (321) | (262) | (11,616) | (33,214) | 41,999 | 72,219 | ||
Income (loss) from continuing operations before equity method investments, income taxes: | (24,258) | (35,938) | (76,661) | (267,509) | 89,864 | 114,763 | ||
Loss from equity method investments | (181) | |||||||
Income (loss) from continuing operations before income taxes: | (24,258) | (35,938) | (76,661) | (267,509) | 89,683 | 114,763 | ||
Income tax expense (benefit) | 4,347 | (76,421) | 24,418 | 93,405 | (33,692) | (42,507) | ||
Income (loss) from continuing operations: | (19,911) | (112,359) | (52,243) | (174,104) | 55,991 | 72,256 | ||
Income (loss) before gain (loss) on sale of properties: | (19,911) | (112,359) | (52,243) | (174,104) | 55,991 | 72,256 | ||
Other undisclosed net income | 181 | |||||||
Net income (loss) available to common stockholders, diluted: | (19,911) | (112,359) | (52,243) | (174,104) | 56,172 | 72,256 |
Comprehensive Income ($ in thousands)
9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
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Net income (loss): | (19,911) | (112,359) | (52,243) | (174,104) | 56,172 | 72,256 | ||
Comprehensive income (loss), net of tax, attributable to parent: | (19,911) | (112,359) | (52,243) | (174,104) | 56,172 | 72,256 |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.