Approach Resources Inc. (AREX) financial statements (2021 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)

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments00010591
Cash and cash equivalents00010591
Receivables7101012202313
Derivative instruments and hedges, assets61 740250 
Deferred tax assets    1119249
Other undisclosed current assets3531(110)(333)(46)
Total current assets:16171220619016
Noncurrent Assets
Property, plant and equipment    (382)  
Oil and gas property, successful effort method1,0681,0831,0921,1551,332  
Long-term investments and receivables      10
Long-term investments      10
Other noncurrent assets    98
Prepaid expense and other noncurrent assets1
Deferred tax assets, net    1411
Other undisclosed noncurrent assets    3681,046829
Total noncurrent assets:1,0681,0831,0921,1551,3401,055840
TOTAL ASSETS:1,0851,1001,1051,1751,4011,145856
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities16181724843830
Accounts payable10991133  
Accrued liabilities68813513830
Derivative instruments and hedges, liabilities 25  2 
Deferred tax liabilities    14 1
Other undisclosed current liabilities554494530
Total current liabilities:212526291078460
Noncurrent Liabilities
Long-term debt and lease obligation8484227226250250106
Long-term debt, excluding current maturities8484227226250250106
Liabilities, other than long-term debt1294174212010156
Asset retirement obligations111111101087
Deferred tax liabilities, net 826321119249
Other liabilities001    
Derivative instruments and hedges, liabilities     0 
Other undisclosed noncurrent liabilities378289272271150  
Total noncurrent liabilities:474467515539520351162
Total liabilities:495492542567627435222
Stockholders' equity
Stockholders' equity attributable to parent589607563608774710633
Common stock1100000
Additional paid in capital744742586581573565560
Retained earnings (accumulated deficit)(156)(136)(24)2720114573
Total stockholders' equity:589607563608774710633
TOTAL LIABILITIES AND EQUITY:1,0851,1001,1051,1751,4011,145856

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

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues11410590131257181129
Revenue, net10590131259181129
Cost of revenue (18)(19)(29)(155)(200)(89)
Cost of goods and services sold (18)(19)(29)(33)  
Gross profit:1148771102102(18)40
Operating expenses(113)(125)(135)(404)(36)62(29)
Other undisclosed operating income 1819292  
Operating income (loss):1(20)(45)(272)674411
Nonoperating income (expense)(0)08532(1)(0)
Investment income, nonoperating  6522(1)(0)
Other nonoperating income (expense)(0)020   
Interest and debt expense(25)(16)(28)(15)(22)  
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(0)(0)(12)(33)4272(1)
Income (loss) from continuing operations before equity method investments, income taxes:(24)(36)(77)(268)9011510
Loss from equity method investments    (0)  
Income (loss) from continuing operations before income taxes:(24)(36)(77)(268)9011510
Income tax expense (benefit)4(76)2493(34)(43)(3)
Income (loss) before gain (loss) on sale of properties:(20)(112)(52)(174)56726
Other undisclosed net income    0  
Net income (loss) available to common stockholders, diluted:(20)(112)(52)(174)56726

Comprehensive Income ($ in millions)

12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net income (loss):(20)(112)(52)(174)56726
Comprehensive income (loss), net of tax, attributable to parent:(20)(112)(52)(174)56726

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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