Approach Resources Posts Adjusted Q4 Loss Per Share of $0.07

Approach Resources (AREX) posted Q4 adjusted loss per share of $0.07, compared with an adjusted loss per share of $0.23 in the same period a year earlier.

The adjusted loss per share was in line with the average estimate by analysts in a Capital IQ poll.

Revenue totaled $28.4 million, compared with $26.5 million a year earlier. Analysts had predicted revenue of $28.1 million.

The company sees Q1 production at 11.3 MBoe/d compared with Q4 production of 11.6 MBoe/d.

The capital budget for 2018 is between $50 million and $70 million, depending on commodity prices, the company said.

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