Approach Resources Inc. (Approach) is an independent energy company engaged in the exploration, development, production and acquisition of oil and gas properties. The Company focuses on oil and gas reserves in oil shale and tight gas sands in the Permian Basin in West Texas (Clearfork, Wolfcamp Shale, Canyon Sands, Strawn and Ellenburger), where it leases approximately 145,000 net acres. At December 31, 2011, approximately 99.7% of its proved reserves were located in the Permian Basin in Crockett and Schleicher Counties, Texas. The remainder of its proved reserves is located in the East Texas Basin in Limestone County, Texas. In February 2011, the Company acquired the remaining 38% working interest in northwest Project Pangea from two non-operating partners. During the year ended December 31, 2011, it acquired approximately 43,000 net acres in the Permian Basin in Crockett and Schleicher Counties, Texas.