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Approach Resources marks $526,000 April operating loss; revenue down
By Caroline Salls
Pittsburgh, June 2 – Approach Resources Inc. posted a $526,000 operating loss for April on $1.63 million in oil and gas revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.
In comparison, Approach reported a $2.38 million operating loss for March on $2.53 million in oil and gas revenue.
The net loss for April was $2.87 million, narrowing from a $4.08 million March net loss.
The company had $4.41 million in cash and cash equivalents as of April 30, down from $7.32 million at the end of March.
Approach Resources is a Fort Worth-based oil and gas company. The company filed bankruptcy on Nov. 18, 2019 under Chapter 11 case number 19-36444.
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