APPROACH RESOURCES INC. (NASDAQ:AREX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officer; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 15, 2017, Uma L. Datla, the Chief Accounting Officer of Approach Resources Inc. (the “Company”), informed the Company of her intent to resign to accept the position of Chief Accounting Officer of another publicly traded company in her hometown of Dallas, Texas. Ms. Datla’s resignation will be effective as of the close of business on June 2, 2017. Following Ms. Datla’s resignation, Sergei Krylov, the Company’s Executive Vice President and Chief Financial Officer, will assume the obligations of principal accounting officer. Information regarding Mr. Krylov’s background and business experience, contracts between the Company and Mr. Krylov and any related party transactions involving Mr. Krylov is incorporated by reference herein from the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 25, 2017. Ms. Datla’s decision to resign was not due to any disagreement with the Company.
About APPROACH RESOURCES INC. (NASDAQ:AREX)
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. APPROACH RESOURCES INC. (NASDAQ:AREX) Recent Trading Information
APPROACH RESOURCES INC. (NASDAQ:AREX) closed its last trading session up +0.09 at 2.94 with 622,751 shares trading hands.