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Saturday, January 23, 2021

Approach Resources prices bond offering

A. Lee Graham Reporter

Approach Resources Inc. of Fort Worth has announced the pricing of its $250 million public offering in aggregate principal amount of 7 percent senior notes due 2021. The notes were priced at par. Their sale is expected to settle on June 11, 2013, subject to satisfying customary closing conditions. The company said it intends to use net proceeds from the offering to repay the outstanding indebtedness under its revolving credit facility, to fund capital expenditures and for general working capital needs. Acting as joint book-running managers of the offering are J.P. Morgan Securities LLC, RBC Capital Markets and KeyBanc Capital Markets. The notes are being offered through a prospectus supplement and accompanying base prospectus, copies of which are available at J.P. Morgan Securities LLC, 383 Madison Ave., 3rd Floor, New York, NY 10179, Attention: Syndicate Desk, or by calling 800-245-8812. When available, electronic copies of the prospectus supplement and accompanying base prospectus may be obtained free of charge at www.sec.gov. Approach Resources Inc., an independent oil and gas company with core operations, production and reserves in West Texas’ Permian Basin, operates about 148,000 net acres in that region. More information is available at www.approachresources.com.

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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