WRES
Warren Resources, Inc.NASDAQ
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  • Thu, Jun. 2, 5:19 PM
    • Warren Resources (NASDAQ:WRES) has filed for Chapter 11 bankruptcy protection, Reuters reports, citing court filings.
    • WRES listed assets of $230M and debts of $545M as of Jan. 31, according to court documents.
    • Shares fell 24% in today's trade to close $0.095, exactly one year after hitting their 52-week high of $0.79.
    | Thu, Jun. 2, 5:19 PM | 10 Comments
  • Wed, Apr. 6, 3:57 PM
    • Warren Resources (WRES -6%) is lower after saying it continues to engage in discussions with lenders and an ad hoc group of unsecured noteholders about a restructuring of its debt obligations, and is evaluating potential strategies including bankruptcy.
    • WRES says its first lien lender made an acceptable proposal for a post-restructuring capital structure that would result in deleveraging by converting a substantial amount of the company's debt to equity; however, agreement on a proposal among all three categories of creditors has not been reached.
    • WRES also names James Watt as chief restructuring officer, in addition to his other positions as  President and CEO.
    | Wed, Apr. 6, 3:57 PM | 13 Comments
  • Thu, Mar. 17, 10:57 PM
    • Warren Resources (NASDAQ:WRES): FY15 EPS of -$7.55 may not be comparable to consensus of -$0.80.
    • Revenue of $88.37M (-41.4% Y/Y) beats by $4.37M.
    | Thu, Mar. 17, 10:57 PM | 10 Comments
  • Tue, Feb. 9, 9:12 AM
    • Warren Resources (NASDAQ:WRES) says it has started discussions with its creditors regarding a restructuring of its debt obligations and would need to seek bankruptcy protection if talks fail.
    • WRES had deferred a $7.5M semi-annual interest payment that was due on Feb. 1 to reach a deal with creditors.
    • WRES also forecasts total revenue to fall 31.7% Y/Y to $61.1M from $89.4M, and expects oil production to fall ~18% and natural gas production to drop ~20% this year; the company expects to spend no new drilling capital on any of its properties in 2016.
    | Tue, Feb. 9, 9:12 AM | 16 Comments
  • Mon, Feb. 1, 9:58 AM
    • Warren Resources (NASDAQ:WRES) says it will not make a ~$7.5M interest payment due February 1 on its outstanding $167.3M aggregate principal amount of 9% notes due 2022.
    • The non-payment would become an event of default if it is not made within 30 days.
    • WRES says it has engaged Jefferies as financial adviser in connection with a potential restructuring of its balance sheet.
    • WRES -6.2%.
    | Mon, Feb. 1, 9:58 AM | 4 Comments
  • Nov. 30, 2015, 9:18 AM
    • Warren Resources (NASDAQ:WRES) appoints Frank Smith Jr. as senior VP and CFO, replacing interim CFO Brian Gelman, who will return to his role as Chief Accounting Officer and Controller.
    • Smith has served as senior VP and CFO of Dune Energy since 2007 and as secretary since 2012.
    | Nov. 30, 2015, 9:18 AM | 1 Comment
  • Nov. 16, 2015, 8:25 AM
    • Warren Resources (NASDAQ:WRES) appoints James Watt as its new President and CEO, effective immediately.
    • Watt joins WRES from Dune Energy, where he served as President and CEO.
    • Lance Peterson, who served as interim CEO since last December, is stepping down from the role and will continue as a director.
    | Nov. 16, 2015, 8:25 AM | 6 Comments
  • Nov. 9, 2015, 7:14 AM
    • Warren Resources (NASDAQ:WRES): Q3 EPS of -$0.23 misses by $0.03.
    • Revenue of $20.8M (-48.7% Y/Y) misses by $0.52M.
    | Nov. 9, 2015, 7:14 AM
  • Nov. 8, 2015, 5:30 PM
  • Aug. 4, 2015, 7:40 AM
    • Warren Resources (NASDAQ:WRES): Q2 EPS of $0.03 beats by $0.24.
    • Revenue of $26.22M (-25.1% Y/Y) beats by $0.23M.
    | Aug. 4, 2015, 7:40 AM | 12 Comments
  • Jun. 16, 2015, 10:30 AM
    • Warren Resources (WRES +19.2%) agrees to sell its Atlantic Rim CBM assets to Escalera Resources (ESCR +52%) for $47M.
    • The sale includes all WRES interests in its shallow depth coal bed methane assets, appurtenant midstream pipeline assets, and an undivided 30% of its interest in certain deep rights associated with former WRES leases in the Atlantic Rim area.
    • WRES says it will retain 70% of the operated deep rights associated with its former leases in the Atlantic Rim area, across 68.7K gross acres, which are now being evaluated for potential upside in a number of the deep formations present.
    | Jun. 16, 2015, 10:30 AM | 41 Comments
  • May 26, 2015, 6:09 PM
    • Warren Resources (NASDAQ:WRES) says it has closed a $250M refinancing deal from Franklin Square Capital Partners to help pay down its credit line and continue its growth initiatives.
    • WRES will get $202.5M of new money and loans through an exchange with its unsecured bondholders; the deal includes a new five-year first-lien term loan that will pay an interest rate of at least 9.5%.
    • "Rather than just taking on new debt to provide additional liquidity, we are converting a significant amount of high yield bonds to first lien debt at a favorable discount, while also generating sufficient funding to grow our business,” WRES says.
    | May 26, 2015, 6:09 PM | 24 Comments
  • May 7, 2015, 7:28 AM
    • Warren Resources (NASDAQ:WRES): Q1 EPS of -$0.13 beats by $0.04.
    • Revenue of $25.78M (-24.6% Y/Y) misses by $1.06M.
    | May 7, 2015, 7:28 AM
  • Apr. 15, 2015, 12:45 PM
    | Apr. 15, 2015, 12:45 PM | 6 Comments
  • Mar. 11, 2015, 12:47 PM
    | Mar. 11, 2015, 12:47 PM | 11 Comments
  • Mar. 11, 2015, 7:31 AM
    • Warren Resources (NASDAQ:WRES): Q4 EPS of -$0.01 beats by $0.02.
    • Revenue of $41.01M (+25.8% Y/Y) misses by $0.36M.
    | Mar. 11, 2015, 7:31 AM | 3 Comments