Approach Resources Inc. Reports Temporary Shut-In of Ozona Northeast Productionadmin
Approach Resources Inc. reported that an estimated 54 million cubic feet equivalent of natural gas, net to the Company, was shut in from the Company’s Ozona Northeast field over the equivalent of approximately three calendar days from August 28 through August 31, 2008, due to a rupture in Energy Transfer’s Oasis pipeline. The Oasis pipeline transports natural gas from the Permian Basin to the Katy Hub near Houston. The volume that was temporarily shut in represents approximately 2.6% of the Company’s total net production for the second quarter of 2008.
The Company resumed production in Ozona Northeast on August 31, 2008; however, the Company noted that it could experience some temporary residual effects of the shut-in as compression facilities are restarted and the wells are returned to production.