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Even as evidence (excluding the trade wars) builds up that the oil market should look better in the future than many investors seem to think, many of the players in the space continue to suffer. Few, however, have it as bad off as Approach Resources (AREX), a small E&P (exploration and production) firm with a focus more on natural gas and NGLs than on crude oil. With natural gas prices down and NGL differentials sinking, the firm has been slammed particularly hard, and between that, its high debt load and some recent corporate