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
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 22212160043258,761
Cash and cash equivalents 22212160043258,761
Receivables 6,7999,7959,63911,88919,76722,871
Derivative instruments and hedges, assets 5,9461,398 6,73739,951250,000
Deferred tax assets    110,70091,900
Other undisclosed current assets 3,4585,4862,8341,212(109,771)(333,119)
Total current assets: 16,22516,70012,49420,43861,07990,413
Noncurrent Assets
Property, plant and equipment     (382,180) 
Oil and gas, successful efforts method, property and equipment, after accumulated depreciation, depletion, amortization, and impairment 1,068,4221,082,8761,092,0611,154,5461,331,659 
Other noncurrent assets     8,6898,041
Deferred tax assets, net    14,200700
Other undisclosed noncurrent assets     367,9801,046,330
Total noncurrent assets: 1,068,4221,082,8761,092,0611,154,5461,340,3481,055,071
TOTAL ASSETS: 1,084,6471,099,5761,104,5551,174,9841,401,4271,145,484
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 16,10917,52317,29924,26384,07437,918
Accounts payable 9,7689,4509,48210,79933,336 
Accrued liabilities 6,3418,0737,81713,46450,73837,918
Derivative instruments and hedges, liabilities  2,1814,880  1,847
Deferred tax liabilities    14,242 
Other undisclosed current liabilities 4,9685,3634,1904,2458,53644,676
Total current liabilities: 21,07725,06726,36928,508106,85284,441
Noncurrent Liabilities
Long-term debt and lease obligation 84,48684,185226,653225,839250,000250,000
Long-term debt, excluding current maturities 84,48684,185226,653225,839250,000250,000
Liabilities, other than long-term debt 11,51193,63316,88541,922120,248100,548
Asset retirement obligations 11,42411,06510,60710,1439,5718,350
Deferred tax liabilities, net 82,1025,61531,779110,67791,883
Other liabilities 87466663   
Derivative instruments and hedges, liabilities      315
Other undisclosed noncurrent liabilities 378,328289,275271,696270,748150,000 
Total noncurrent liabilities: 474,325467,093515,234538,509520,248350,548
Total liabilities: 495,402492,160541,603567,017627,100434,989
Equity
Equity, attributable to parent 589,245607,416562,952607,967774,327710,495
Common stock 950945418408399390
Additional paid in capital 744,126742,391586,095580,623572,888565,237
Retained earnings (accumulated deficit) (155,831)(135,920)(23,561)26,936201,040144,868
Total equity: 589,245607,416562,952607,967774,327710,495
TOTAL LIABILITIES AND EQUITY: 1,084,6471,099,5761,104,5551,174,9841,401,4271,145,484

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
Revenues 114,035105,34990,302131,336256,983181,302
Revenue, net105,34990,302131,336258,529181,302
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: 114,03587,44771,052102,364101,546(18,389)
Operating expenses (112,826)(125,057)(135,168)(403,789)(35,935)61,981
Other undisclosed operating income  17,90219,25028,9721,546 
Operating income (loss): 1,209(19,708)(44,866)(272,453)67,15743,592
Nonoperating income (expense) (29)327,64352,6612,359(1,048)
Investment income, nonoperating   6,13252,4892,359(1,048)
Other nonoperating income (expense) (29)321,511172  
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)41,99972,219
Income (loss) from continuing operations before equity method investments, income taxes: (24,258)(35,938)(76,661)(267,509)89,864114,763
Loss from equity method investments     (181) 
Income (loss) from continuing operations before income taxes: (24,258)(35,938)(76,661)(267,509)89,683114,763
Income tax expense (benefit) 4,347(76,421)24,41893,405(33,692)(42,507)
Income (loss) from continuing operations: (19,911)(112,359)(52,243)(174,104)55,99172,256
Income (loss) before gain (loss) on sale of properties: (19,911)(112,359)(52,243)(174,104)55,99172,256
Other undisclosed net income     181 
Net income (loss) available to common stockholders, diluted: (19,911)(112,359)(52,243)(174,104)56,17272,256

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
Net income (loss): (19,911)(112,359)(52,243)(174,104)56,17272,256
Comprehensive income (loss), net of tax, attributable to parent: (19,911)(112,359)(52,243)(174,104)56,17272,256

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.

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