Warren Resources, Inc. (WRES) - NASDAQ
  • 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
  • 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
  • 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
  • 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
  • Jan. 26, 2015, 12:46 PM
    | Jan. 26, 2015, 12:46 PM | 8 Comments
  • Dec. 24, 2014, 12:44 PM
    | Dec. 24, 2014, 12:44 PM | 3 Comments
  • Dec. 17, 2014, 12:46 PM
    | Dec. 17, 2014, 12:46 PM
  • Dec. 16, 2014, 12:47 PM
    | Dec. 16, 2014, 12:47 PM | 1 Comment
  • Dec. 10, 2014, 12:45 PM
    | Dec. 10, 2014, 12:45 PM | 2 Comments
  • Nov. 28, 2014, 10:28 AM
    • Ladenburg Thalman throws in the towel on Oasis Petroleum (OAS -30%), Denbury Resources (DNR -14.9%), Resolute Energy (REN -18.3%) following OPEC's decision yesterday to hold production levels and the resulting tumble in crude oil, with WTI crude -6.4% to $69.95 per barrel.
    • Some others: Bonanza Creek (BCEI -21.5%), Northern Oil & Gas (NOG -16.2%), Warren Resources (WRES -16.3%), Halcon Resources (HK -22%), Triangle Petroleum (TPLM -21%), Emerald Oil (EOX -26.4%), Kodiak Oil & Gas (KOG -19.3%).
    | Nov. 28, 2014, 10:28 AM | 7 Comments
  • Apr. 17, 2014, 12:47 PM
    | Apr. 17, 2014, 12:47 PM
  • Nov. 29, 2013, 2:40 PM
    | Nov. 29, 2013, 2:40 PM | 2 Comments
  • Jun. 11, 2013, 12:13 PM

    Warren Resources (WRES -2.8%) shares are weak after the energy explorer postponed its debut issue of $200M of eight-year bonds. The senior notes, rated Caa1 by Moody’s, reportedly were marketed beginning May 30, and were marketed to yield 8.25%-8.5% on June 6. The company says it can be more “opportunistic about timing."

    | Jun. 11, 2013, 12:13 PM
  • May 14, 2013, 2:55 PM

    Warren Resources (WRES +7.2%) pushes higher after a favorable blog post from MBAvalueinvestor highlights the stock, which trades at half the value of its proved reserves and at just 2.6x cash flow. Among other attributes: a low-risk, high-return asset base; fully loaded net asset value provides $2/share-plus of additional upside; potential for an acquisition or upstream spinoff.

    | May 14, 2013, 2:55 PM
Company Description
Warren Resources, Inc. is an independent energy company, which engages in the acquisition, exploration, development and production of domestic onshore crude oil and gas reserves. It focuses on the exploration and development of waterflood oil recovery properties in the Wilmington field within... More
Industry: Oil & Gas Equipment & Services
Country: United States