Operator · Marcellus Shale
Warren Resources Inc.
27 articles mentioning Warren Resources Inc. · Page 1 of 2
Saddled With $500 Million Debt; Marcellus Operator Files Bankruptcy
Warren Resources has filed Chapter 11 bankruptcy. The plan calls for 82% of the company to be handed over to Blackstone Group GSO Capital Partners with $234 million owed to the company. Second-lien lenders owed about...
Warren Resources Skipping Interest Payment Amid Restructuring
The company has elected not to make the semi-annual interest payment, although it currently has sufficient liquidity to make the interest payment in full.
Warren Resources Wraps Up Strategic Refinancing
Warren announced the closing of a privately negotiated second lien loan transaction that provides Warren with approximately $11.0 million of new money and approximately $40.1 million of second lien term loans
Warren Resources Relocating HQ to Denver; Taps Chairman
Warren Resources, Inc. announced that the corporate headquarters will be relocated to its pre-existing Denver, Colorado office effective immediately.
Warren Resources' Upper Marcellus Test a Success
Current combined daily production rate is 17 MMcf per day
Warren Resources on the Hunt for Next CEO
The Company has retained executive search firm Egon Zehnder to assist with the selection process.
Warren Touts Potential of Key Marcellus Wells; Could Expand Project Area
Warren Resources, Inc. provided an update on the Company's operations in its Marcellus, California, and Wyoming business units.
Warren Resources Commences Exchange Offering
Warren has commenced a registered exchange offer to exchange up to $230,410,000 of its outstanding 9.00% Senior Notes due 2022.
Warren Touts Strong Marcellus Results; Drills 33 CBM Wells in 4Q
The continued strong performance of the Marcellus wells enabled Warren to increase proved reserve bookings for the Marcellus unit at year-end 2014.
Warren Makes Significant Cut to 2015 Budget
Warren is revising its 2015 capital budget lower to approximately $21 million from the Company's preliminary $80 million budget released in early December 2014.
Warren Betting Majority of 2015 CapEx on the Marcellus
The Company is also reaffirming its prior production guidance for the full year 2014 of 1.10 – 1.12 MMBbls of oil and 14.50 – 15.25 Bcf of natural gas.
Warren Taps Citrus Co-Founder as Interim CEO
Lance Peterson co-founded Citrus Energy Corporation in 1989 and has served as CEO and President since its formation.
Warren Reaffirms $225 Million Borrowing Base
As of November 26, 2014, Warren had $130 million of debt outstanding under its Credit Facility, leaving $95 million available.
Warren Finalizes Marcellus Deal, Updates 2Q Gas, CBM Ops
Additionally, Warren's oil and gas revenues increased 9% to $33.6 million in the second quarter of 2014.
Two Big Deals Struck in the Marcellus Shale
Warren Resources and Rice Energy both signed on two major deals in the Marcellus.
Warren Ups 2014 Spending; May Tap into Niobrara
The 2014 budget is a large increase from the company's 2013 budget of $57.9 million.
Warren Resources Names VP of Project Development
Jeffrey R. Keeler has held a number of positions throughout the energy sector.
Warren Appoints New M&A EVP, CFO
Warren Resources Inc. has reported the promotion of Timothy A. Larkin to Executive Vice President-Mergers and Acquisitions and Stewart P. Skelly to Vice President and Chief Financial Officer.
Warren Resources Ups Borrowing Base to $145MM
As of May 17, 2013, Warren has $89.5 million of debt outstanding under its Credit Facility, leaving $55.5 million available.
Warren Adds 25 Spyglass CBM Wells to Program
The additional wells are expected to be placed into sales in the latter part of 2013; therefore, Warren is not updating its full-year gas production guidance at this time.