FORT WORTH, Texas--(BUSINESS WIRE)--Approach Resources Inc. (NASDAQ: AREX) today announced it has completed its fall 2018 semiannual borrowing base redetermination of its revolving credit facility. The borrowing base was unanimously reaffirmed by the bank group at $325 million. Under the terms of the credit agreement, the bank group redetermines the borrowing base semiannually using the banks’ estimates of reserves and future oil and gas prices. The next borrowing base redetermination is scheduled to occur in April 2019.
About Approach Resources
Approach Resources Inc. (“Approach” or the “Company”) is an independent energy company focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas. For more information about the Company, please visit www.approachresources.com. Please note that the Company routinely posts important information about the Company under the Investor Relations section of its website.