AREX - Approach Resources Shakes Up Its Management Team

Approach Resources (AREX) announced that CEO Ross Craft has resigned from the company and is being replaced by CFO Sergei Krylov, who will have a dual role as CEO/CFO. This move (and other management changes) were the product of discussions that were previously mentioned in March.

This could help reduce Approach's high G&A expenses (relative to its level of production) over the long term. However, it appears that Approach still needs to shed the majority of its debt in order to be competitive going forward.

Maintenance Scenario With Improved Differentials

Approach