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Jul. 7, 2014, 7:35 AM
- Warren Resources (WRES) agrees to acquire essentially all of the Marcellus assets of Citrus Energy Corp. and two working interest owners for $352.5M.
- WRES says the deal gives it a new platform in the Marcellus Shale, adds a new core area to its existing California oil and Wyoming natural gas assets, and will generate substantial cash flow to fund future drilling and completion expenses in the Marcellus.
Warren Resources Inc is engaged in the exploration, development & production of domestic onshore crude oil & gas reserves. It develops the waterflood oil recovery properties in the Wilmington field within the Los Angeles Basin of California.
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