Approach Resources Inc
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Energy : Oil, Gas & Consumable Fuels | Small Cap Value
Company profile

Approach Resources Inc. is an independent energy company. The Company is 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. The Company's business segment is the exploration and production of oil, natural gas liquids (NGLs) and natural gas. The Company's assets cover an area of approximately 126,000 net acres. Its proved reserves are approximately 166.6 million barrels of oil equivalent. The Company's proved reserves are primarily located in Crockett and Schleicher Counties, Texas. The Company's Permian Basin acreage is known as the Project Pangea. The Company owns and operates approximately 800 producing oil and gas wells in the Permian Basin. The Company, through a joint venture with EnCana Oil & Gas (USA) Inc., holds interests in the approximately 3,000 gross acre project in Limestone and Robertson Counties, Texas, in the East Texas Cotton Valley trend.

Day's Change
0.0047 (36.15%)
B/A Size
Day's High
Day's Low
(Heavy Day)

Today's volume of 294,371 shares is on pace to be much greater than AREXQ's 10-day average volume of 89,631 shares.


UPDATE: Aurora Cannabis' stock jumps after sale of rest of Green Organic Dutchman stake for C$86.5 million

4:36 pm ET September 4, 2019 (MarketWatch)

The U.S.-listed shares of Aurora Cannabis Inc. (ACB.T) rallied 2.7% in premarket trading Wednesday, after the Canada-based cannabis company said it sold of the remaining 28.83 million shares of The Green Organic Dutchman Holdings Ltd. that it owned at a price of C$3.00 a share for gross proceeds of C$86.5 million ($64.9 million). The Green Organic Dutchman's stock closed Tuesday at C$3.51. Aurora said the sale represented 10.5% of the The Green Organic Dutchman's (TGOD) shares outstanding. Aurora said it no longer holds any shares of TGOD, but it does own warrants to buy 16.7 million TGOD shares. "When we acquired Whistler Medical Marijuana Corporation -- an iconic and premium organic cannabis producer -- our interest in TGOD became less important to our core strategy," said Aurora Chief Executive Terry Booth. "Our return on our TGOD investment is significant and will add non-dilutive capital and further enhance our strategy to remain a dominant force in the global cannabis industry." Aurora's U.S.-listed shares have climbed 14.3% year to date and TGOD's U.S. stock has run up 45.3%, while the ETFMG Alternative Harvest ETF (MJ) has lost 1.2% and the S&P 500 has gained 15.9%.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

September 04, 2019 16:36 ET (20:36 GMT)

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