ORT WORTH, Texas -- (BUSINESS WIRE) --
Approach Resources Inc. (NASDAQ: AREX) (the “Company”) today announced that Troy A. Hoefer, will join the Company as Vice President – Reservoir Engineering.
Mr. Hoefer has more than 25 years of operating and management experience in the oil and gas industry. For the past 16 years, Mr. Hoefer held increasingly responsible reservoir and operating engineering positions at Pioneer Natural Resources. Most recently, Mr. Hoefer served as Reservoir Engineering Manager of the South Texas Asset Team, which oversees development of Pioneer’s Eagle Ford shale play. In this capacity, Mr. Hoefer managed a team of reservoir engineers and technicians responsible for formulating and executing a large-scale development program for the Eagle Ford shale that included drilling and completing 100 to 130 horizontal wells per year during the past two years. Before joining Pioneer, Mr. Hoefer worked in various engineering capacities for Mesa Inc., which merged with Parker and Parsley in 1997 to form Pioneer Natural Resources. Mr. Hoefer holds a B.S. in Petroleum Engineering from the Colorado School of Mines.
The Company simultaneously announced the promotion of Walter M. Glasgow, Jr., P.E. to Vice President – Operations. Mr. Glasgow joined the Company in September 2012 as Manager of Operations. Mr. Glasgow has 32 years of production operations and management experience in the industry, including 23 years at Mosbacher Energy Company and its affiliates, and eight years at Wagner Oil Company, a privately held exploration and production company. Mr. Glasgow holds a B.E. in Civil Engineering, Magna Cum Laude, from Vanderbilt University and is a licensed professional engineer in the state of Texas.
J. Ross Craft, President and Chief Executive Officer, commented, “We are very excited about these two management team additions. Walter has done an outstanding job managing our production operations and infrastructure build out to date. With 32 years of industry experience, he has proven himself to be an integral member of our team. In addition, we are pleased to have Troy join our management team. Troy brings a track record of success in overseeing reservoir engineering in an emerging unconventional shale play with rapid expansion of production and reserves. We expect his leadership to be invaluable as we continue to focus on transforming our Wolfcamp oil shale discovery into a full-scale manufacturing operation.”
Approach Resources Inc. is an independent oil and gas company with core operations, production and reserves located in the Permian Basin in West Texas. The Company targets multiple oil and liquids-rich formations in the Permian Basin, where the Company operates approximately 148,000 net acres. For more information about the Company, please visit
www.approachresources.com. Please note that the Company routinely posts important information about the Company under the Investor Relations section of its website.
Contacts
Approach Resources Inc.
Megan P. Hays, 817.989.9000
Manager, Investor Relations & Corporate Communications
