Fort Worth-based Approach Resources, which is active in the Permian Basin, says its production last year rose 24 percent to 7,900 barrels of oil equivalent a day, including 8,500 barrels equivalent in the year's fourth quarter. Crude oil production doubled during the year to 2,655 barrels a day. Production was nearly evenly spread between oil, natural gas liquids and natural gas. Approach said it expects first-quarter 2013 production to range from 8,900 to 9,100 barrels equivalent a day, 70 percent of it liquids. It plans to report 2012 earnings on Feb. 21 after the close of trading. Approach's shares (ticker: AREX) trade on the Nasdaq.
-- Jim Fuquay
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