Approach Resources Inc. (AREX) financial statements (2020 and earlier)

Company profile

Business Address ONE RIDGMAR CENTRE
FORT WORTH, TX 76116
State of Incorp. DE
Fiscal Year End December 31
SIC 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
3/31/2018
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments77160000
Cash and cash equivalents77160000
Receivables5477111110
Derivative instruments and hedges, assets1126001
Assets held-for-sale, not part of disposal group 11    
Other undisclosed current assets2533422
Total current assets:15192916141413
Noncurrent Assets
Operating lease, right-of-use asset11  
Oil and gas property, successful effort method1,0291,0411,0541,0681,0831,0781,081
Other undisclosed noncurrent assets 1214    
Total noncurrent assets:1,0401,0531,0681,0681,0831,0781,081
TOTAL ASSETS:1,0551,0721,0961,0851,0971,0921,094
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1791516311919
Accounts payable10351013810
Accrued liabilities7610618119
Debt413321321    
Derivative instruments and hedges, liabilities    452
Other undisclosed current liabilities411115665
Total current liabilities:43434134721413027
Noncurrent Liabilities
Long-term debt and lease obligation4858584848484
Long-term debt, excluding current maturities 858584848484
Operating lease, liability4  
Liabilities, other than long-term debt77121212129092
Asset retirement obligations12121211111111
Deferred tax liabilities, net  7880
Deferred income tax liabilities65  
Other liabilities0000111
Derivative instruments and hedges, liabilities    0  
Other undisclosed noncurrent liabilities 7681378372296290
Total noncurrent liabilities:81172177474468471467
Total liabilities:515514525495510500494
Stockholders' equity
Stockholders' equity attributable to parent540559572589588591600
Common stock1111111
Additional paid in capital744744744744744743743
Accumulated other comprehensive income (loss)    0(0) 
Accumulated deficit(205)(186)(173)(156)(157)(152)(143)
Total stockholders' equity:540559572589588591600
TOTAL LIABILITIES AND EQUITY:1,0551,0721,0961,0851,0971,0921,094

Income statement (P&L) ($ in millions)

9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
3/31/2018
Q1
Revenues15151922333029
Revenue, net29
Gain (loss) on disposition of assets for financial service operations00(3)10(3)(5) 
Cost of revenue
(Cost of Goods and Services Sold)
      (5)
Gross profit:15151922333024
Operating expenses(32)(25)(31)(24)(28)(31)(30)
Other undisclosed operating income      5
Operating income (loss):(17)(10)(11)(2)5(0)(1)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
   0(0)(0)0
Interest and debt expense(8)(7)(7)(7)(6)(6)(6)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes00(3)10(3)(5)(2)
Income (loss) from continuing operations before income taxes:(24)(17)(21)1(5)(11)(9)
Income tax expense (benefit)534(0)122
Net income (loss) available to common stockholders, diluted:(19)(14)(17)1(4)(9)(7)

Comprehensive Income ($ in millions)

9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
6/30/2018
Q2
3/31/2018
Q1
Net income (loss):(19)(14)(17)1(4)(9)(7)
Other comprehensive income (loss)    0(0) 
Other undisclosed comprehensive loss   (0)   
Comprehensive income (loss), net of tax, attributable to parent:(19)(14)(17)1(4)(9)(7)

Statements sources

The financial statements are based on the company's filings with the 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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