I found this
" order to improve our leverage position, we previously engaged in discussions and negotiations with Wilks Brothers, LLC, and its affiliate SDW Investments, LLC (collectively, “Wilks”) regarding their investment in the Company, including a possible debt for equity exchange of approximately $62.3 million aggregate principal amount of 7% Senior Notes due 2021 (the “Senior Notes”) currently held by Wilks and an additional capital infusion into Approach (the “Exchange Transaction”). In addition, we previously engaged in discussions and negotiations with the lenders regarding a potential extension of and amendments to the existing credit agreement. An extension of and amendments to the existing credit agreement was contingent on the successful and timely consummation of an Exchange Transaction. Discussions and negotiations regarding the Exchange Transaction, and extension of and amendment to the existing credit agreement progressed throughout 2019. However, no definitive agreements ultimately were executed, and the negotiations currently are not active. We, including our previously-formed committee of independent directors, have continued our evaluation of deleveraging and restructuring alternatives throughout the third quarter and through early November."
Their HQ is in Tarrant County
Approach Resources Inc. is an independent energy company focused on the exploration, development, production and acquisition of unconventional oil and gas reserves in the Midland Basin of the greater Permian Basin in West Texas, where we leased approximately 113,000 net acres as of September 30, 2019. We believe our concentrated acreage position and extensive, integrated field infrastructure system provides us an opportunity to achieve cost, operating and recovery efficiencies in the development of our drilling inventory. We believe our business strategy is dependent on a successful restructuring of our balance sheet and the outcome of the Chapter 11 Cases. Assuming a successful restructuring of our balance sheet, our long-term business strategy is to create value by growing reserves and production in a cost efficient manner and at attractive rates of return. We intend to pursue that strategy by developing resource potential from the Wolfcamp shale oil formation and pursuing acquisitions that meet our strategic and financial objectives. Additional drilling targets could include the Clearfork, Canyon Sands, Strawn and Ellenburger zones. We sometimes refer to our development project in the Permian Basin as “Project Pangea,” which includes “Pangea West.” Our management and technical teams have a proven track record of finding and developing reserves through advanced drilling and completion techniques. As the operator of all of our estimated proved reserves and production, we have a high degree of control over capital expenditures and other operating matters.
Ok So how much of their assets were in this area "?
"located in Crockett, Schleicher and Limestone Counties, Texas, or attributable to assets
and properties of the Sellers located in Crockett, Schleicher and Limestone Counties, Texas"
PURCHASE AND SALE
Section 2.1 The Assets. Subject to the entry of the Sale Order, on the terms and subject
to the conditions of this Agreement and the Sale Order, at the Closing, the Sellers shall sell, convey
and assign (or shall cause to be sold, conveyed and assigned) to Buyer, and Buyer shall purchase,
pay for, and accept all of the Sellers’ right, title and interest in and to all assets and properties of the Sellers located in Crockett, Schleicher and Limestone Counties, Texas, or attributable to assets
and properties of the Sellers located in Crockett, Schleicher and Limestone Counties, Texas,
including all real property, personal property, equipment, vehicles and rolling stock,
improvements, facilities and fixtures (such assets and properties, SAVE and EXCEPT the
Excluded Assets, hereafter referred to collectively as the “Assets”). For the avoidance of doubt,
and without limiting the generality of the forgoing, the Assets shall include the following described
property rights, interests and privileges:
