Approach Resources, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2018
March 19, 2019 at 02:35 am IST
Approach Resources, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company announced oil, NGLs and gas sales of $22,375,000 compared to $28,417,000 a year ago. Operating loss was $1,879,000 compared to $948,000 a year ago. Net income was $868,000 compared to $45,817,000 a year ago. Basic and diluted earnings per share was $0.01 compared to $0.51 a year ago.
For the year, the company announced oil, NGLs and gas sales of $114,035,000 compared to $105,349,000 a year ago. Operating income was $1,209,000 compared to operating loss of $19,708,000 a year ago. Net loss was $19,911,000 compared to $112,359,000 a year ago. Basic and diluted loss per share was $0.21 compared to $1.35 a year ago.