SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
November 16, 2012
APPROACH RESOURCES INC.
(Exact name of registrant as specified in its charter)
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 1.01 Entry into a Material Definitive Agreement.
Effective November 16, 2012, Approach Resources Inc. (the Company) entered into a fourteenth amendment (the Fourteenth Amendment) to its Credit Agreement dated as of January 18, 2008 (as amended, the Credit Agreement), by and among the Company and its subsidiary guarantors, the lenders and JPMorgan Chase Bank, N.A., as administrative agent and lender.
The Fourteenth Amendment (a) increases the aggregate limit on the Companys permitted indebtedness evidenced by the issuance of unsecured senior notes from $200 million to $400 million and (b) eliminates the borrowing base reduction associated with the issuance of senior unsecured notes for notes issued before October 1, 2013.
The Fourteenth Amendment also adds Approach Services, LLC and Approach Midstream Holdings LLC, subsidiaries of the Company, as guarantors under the Credit Agreement.
The foregoing description of the terms of the Fourteenth Amendment is qualified in its entirety by the Fourteenth Amendment, which is filed as Exhibit 10.1 to this current report and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information regarding the Fourteenth Amendment set forth under Item 1.01 above is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 21, 2012