Lance Peterson, Interim Chief Executive Officer of Warren Resources, Inc. (NASDAQ: WRES), presented today at EnerCom’s The Oil & Gas Conference 20®.
Warren Resources, Inc. is an independent energy company engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves. Warren’s activities are primarily focused on oil in the Wilmington field in the Los Angeles Basin in California, natural gas in the Marcellus Shale in Pennsylvania, and an undeveloped acreage position in the Washakie Basin of Wyoming.
The company achieved record production levels in its Q2’15 earnings release and lease operating expenses have declined by 22% since the beginning of the fiscal year. Completion operations have commenced on its first two Upper Marcellus wells and are expected to be finished by mid-August.
During the company’s breakout session, management was asked the following questions:
- You talked about capturing your 2P and 3P reserves in the lower Marcellus. How do you reach that objective?
- Can you describe the Washakie Basin operations?
- Which direction are you looking in terms of future acquisitions?
- Are you looking to diversify your portfolio in any way?
- Can you talk little more about operations in the Marcellus?
- What do you think about the net present value of the new locations in the lower Marcellus?
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