Approach Resources Inc.
Approach Resources Inc. is an independent energy company, focusing 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. The Company has leased approximately 146,000 net acres and its estimated proved reserves are approximately 114.7 million barrels of oil equivalent. The Company is developing significant resource potential from the Wolfcamp shale oil formation. Its additional drilling targets include the Clearfork, Canyon Sands, Strawn and Ellenburger zones. The Company refers to its development project in the Permian Basin as Project Pangea, which includes Pangea West. The Company owns and operates 679 producing oil and gas wells in the Permian Basin.