Key Developments: Warren Resources Inc (WRES.O)
2.94USD
21 May 2013
$-0.05 (-1.67%)
$3.02
$2.99
$3.03
$2.92
558,491
421,572
$3.41
$2.08
Latest Key Developments (Source: Significant Developments)
Warren Resources Inc Issues Q2 2013 Production Guidance; Reaffirms FY 2013 Production Guidance
Warren Resources Inc announced that for second quarter of 2013, it expects oil production between 265-275 MBbl, gas production between 1,500 -1,600 MMcf and Oil Equivalent production between 515 - 542 MBOE. For fiscal 2013, it expects oil production between 1,125-1,225 MBbl, gas production between 6,000-6,500 MMcf and Oil Equivalent of 2,125-2,308 Mboe. Full Article
Warren Resources Inc Issues Q1, FY 2013 Production Guidance
Warren Resources, Inc. announced that for the first quarter of 2013, it expects oil production between 250-260 MBbl, gas production between 1,500-1,600 MMcf and Oil Equivalent of 500-527 Mboe. For fiscal 2013, it expects oil production between 1,125-1,225 MBbl, gas production between 6,000-6,500 MMcf and Oil Equivalent of 2,125-2,308 Mboe. Full Article
Warren Resources Inc Appoints Mr. Philip A. Epstein As Chief Executive Officer
Warren Resources Inc announced that its Board of Directors has appointed Mr. Philip A. Epstein as Chief Executive Officer. He will also serve as Chairman of the Board of Directors. Full Article
Warren Resources, Inc. Issues Q3 2012 Production Guidance; Revises FY 2012 Production Guidance
Warren Resources, Inc. announced that for the third quarter of 2012, it expects oil production between 290-305 MBbl, gas production between 1,100-1,200 MMcf and Oil Equivalent of 473-505 Mboe. For fiscal 2012, it expects oil production between 1,080-1,150 MBbl, gas production between 4,700-4,900 MMcf and Oil Equivalent of 1,863-1,967 Mboe. Full Article
Warren Resources, Inc. Announces Espy P. Price As Chairman
Warren Resources, Inc. announced that announced that Espy P. Price has been elected Chairman of the Board of Directors effective immediately. Since June 1, 2012, Mr. Price has served as interim Chief Executive Officer of the Company. Mr. Price has been a member of Warren's Board of Directors since May 2007. Full Article
Warren Resources, Inc. Announces Senior Management Changes
Warren Resources, Inc. announced that Mr. Norman F. Swanton is stepping down and will no longer serve as Chairman of the Board of Directors, Chief Executive Officer of the Company or a member of the Company's Board of Directors, effective June 1, 2012. Espy P. Price, a Director of the Company, has been appointed by the Board of Directors of the Company to serve as Interim Chief Executive Officer. The Board of Directors has asked the Corporate Governance Committee to conduct a search to identify a new CEO. The Committee is interviewing leading executive search firms with experience in CEO transitions to advise the Committee and Board on potential candidates. Full Article
Warren Resources, Inc. Issues Q2 2012 Production Guidance; Reaffirms FY 2012 Production Guidance
Warren Resources, Inc. announced that for the second quarter of 2012, it expects oil production between 260-270 MBbl, gas production between 1,100-1,200 MMcf and Oil Equivalent of 443-470 Mboe. For fiscal 2012, it expects oil production between 1,050-1,150 MBbl, gas production between 4,600-5,000 MMcf and Oil Equivalent of 1,817-1,983 Mboe. Full Article
Warren Resources, Inc. Issues Q1, FY 2012 Production Guidance
Warren Resources, Inc. announced that for the first quarter of 2012, it expects oil production between 240-250 MBbl, gas production between 1,150-1,250 MMcf and Oil Equivalent of 432-458 Mboe. For fiscal 2012, it expects oil production between 1,050-1,150 MBbl, gas production between 4,600-5,000 MMcf and Oil Equivalent of 1,817-1,983 Mboe. Full Article
Warren Resources, Inc. Announces New $300 Million Credit Agreement
Warren Resources, Inc. announced that it has entered into a new, five-year $300 million Second Amended and Restated Credit Agreement with Bank of Montreal, as Administrative Agent (the Agent), various other lenders named therein, and Warren Resources of California, Inc. and Warren E&P, Inc., as Guarantors (the Credit Facility). The Credit Facility provides for a revolving credit facility up to the lesser of $300 million, the Borrowing Base, or the Draw Limit requested by the Company. The Credit Facility matures on December 15, 2016, is secured by substantially all of Warren's oil and gas assets, and is guaranteed by the Guarantors, which are two wholly-owned subsidiaries of the Company. The initial Borrowing Base was increased to $130 million. Depending on the amount outstanding and the level of borrowing base usage, the annual interest rate on each base rate loan under the Credit Facility will be, at the Company's option, either a LIBOR Loan, which has an interest rate equal to the sum of the applicable LIBOR period plus the applicable LIBOR Margin that ranges from 1.75% to 2.75%, or a Base Rate Loan, or any other obligation other than a LIBOR Loan, which has an interest rate equal to the sum of the Base Rate, calculated to be the higher of the Agent's prime rate of interest announced from time to time, or the Federal Funds rate most recently determined by the Agent plus one-half percent, plus an applicable Base Rate Margin that ranges from 0.75% to 1.75%. Full Article
Warren Resources, Inc. Issues Q4 2011 Production Guidance; Revises FY 2011 Production Guidance
Warren Resources, Inc. announced that for the fourth quarter of 2011, it expects Oil production of between 250-260 MBbl, Gas production of between 1,250-1,350 MBbl and Oil Equivalent of 458-485 MBOE. For fiscal 2011, it expects Oil production of between 915-925 MBbl, Gas production of between 4,970-5,070 MBbl and Oil Equivalent of 1,743-1,770 MBOE. Full Article
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