Warren Resources Announces That Marc Rowland Joins the Board of Directors
NEW YORK, Dec. 20, 2012 (GLOBE NEWSWIRE) -- Warren Resources, Inc.
(Nasdaq:WRES) is pleased to announce that Marcus C. Rowland has been elected
to the Board of Directors. Mr. Rowland is the former Executive Vice President
and Chief Financial Officer of Chesapeake Energy Corporation, where he worked
for 18 years.
Recently, Mr. Rowland served as the Chief Executive Officer at FTS
International, Inc. (formally Frac Tech International, LLC) from May 2011 to
November 2012. He served as the President and Chief Financial Officer of Frac
Tech Services, LLC and Frac Tech International, LLC from November 2010 to May
Mr. Rowland served as the Chief Financial Officer of Chesapeake Energy
Corporation from 1993 to August 2010 and Executive Vice President of Finance
from 1998 to August 2010. Mr. Rowland served as Senior Vice President of
Chesapeake Energy Corp. from 1997 to 1998 and as Vice President of Finance
from 1993 to 1997.
Mr. Philip A. Epstein, Chairman and Chief Executive Officer of Warren
Resources, said: "I welcome Marc to the Board of Directors of Warren
Resources. I have worked with Marc since 1992 and watched as he intelligently
engineered a balance sheet which allowed Chesapeake to successfully grow
through commodity cycles. Marc brings to Warren a great understanding of the
oil and gas industry and broad transaction experience. I look forward to
building Warren with the help and advice of Marc and the other members of the
Board of Directors."
Marc Rowland said: "I am pleased to join Warren Resources' Board of Directors.
Warren has a strong and stable oil asset in California and a proved natural
gas property in Wyoming, with upside potential in its Niobrara acreage
position. These assets provide good cash flow and internally generated growth
potential to Warren. The oil and gas industry in the United States continues
to present numerous interesting opportunities. We can work with Warren's
existing platform to prudently grow the Company into a significant industry
About Warren Resources
Warren Resources, Inc. is an independent energy exploration, development and
production company that uses advanced technologies to explore, develop and
produce domestic on-shore oil and natural gas reserves. Warren's activities
are primarily focused on oil in the Wilmington field in California and natural
gas in the Washakie Basin in Wyoming.
This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Warren believes that its expectations are based on
reasonable assumptions. No assurance, however, can be given that such
expectations will prove to have been correct. A number of factors could cause
actual results to differ materially and adversely from the projections,
anticipated results or other expectations expressed in this news release. See
"Risk Factors" in the company's 2011 Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and other public filings and press releases. Warren
undertakes no obligation to publicly update or revise any forward-looking
CONTACT: Media Contact:
David Fleming, 212-697-9660
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