UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
October 14, 2009
APPROACH RESOURCES INC.
(Exact name of registrant as specified in its charter)
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Delaware
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001-33801
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51-0424817 |
(State or other jurisdiction of incorporation
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(Commission File Number)
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(I.R.S. employer identification number) |
or organization) |
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One Ridgmar Centre
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6500 W. Freeway, Suite 800 |
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Fort Worth, Texas |
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76116 |
(Address of principal executive office)
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(Zip code) |
(817) 989-9000
(Registrants telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, 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.):
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement.
On October 14, 2009, Approach Oil & Gas Inc. (the Company), a subsidiary of Approach
Resources Inc., entered into an amendment (the Amendment) to its Oil & Gas Lease dated February
27, 2007 (the Lease) that covers the Companys El Vado East prospect in Rio Arriba County, New
Mexico. The effective date of the Amendment is January 1, 2009.
The Amendment provides that if the Company is prevented from complying with any covenant of
the Lease due to, among other things, governmental or regulatory order or regulation or by failure
to obtain permits, then the primary term of the Lease will be extended and all dates, deadlines,
provisions and covenants in the Lease will be extended during the period of force majeure or delay,
provided that the Company gives written notice to the mineral lessor. The period of force majeure
may not exceed four consecutive years after the expiration of the
primary term or recurring periods
of four years in the aggregate past the primary term in the event of litigation, injuction,
restraining order, governmental or regulatory order or by failure to obtain permits and two years
for all other causes.
The Amendment also amends the continuous drilling provisions of the Lease to provide that if,
at the expiration of the primary term or any extensions, the Company is engaged in drilling or has
drilled a producing well or a dry hole during the primary term as extended, then the termination
provisions of the Lease will be extended so long as at least two wells are drilled and completed or
plugged and abandoned at any time during each lease year following the expiration of the primary
term.
The foregoing description of the terms of the Amendment is qualified in its entirety by the
Amendment, which is filed as Exhibit 10.1 to this current report and is incorporated herein by
reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
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Description |
10.1
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Amendment executed October 14, 2009 to Oil & Gas Lease dated
February 27, 2007 between the lessors identified therein and
Approach Oil & Gas Inc., as successor to Lynx Production
Company, Inc. |
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