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Last $0.95 USD
Change Today -0.0801 / -7.78%
Volume 920.0K
WRES On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

warren resources inc (WRES) Key Developments

Warren Resources Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Warren Resources Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company’s operating revenues were $41,014,000 against $32,607,000 a year ago. Loss from operations was $441,000 against income from operations of $8,445,000 a year ago. Income before income taxes was $1,333,000 against $3,732,000 a year ago. Net income was $1,340,000 against $3,713,000 a year ago. Net income applicable to common stockholders was $1,338,000 or $0.02 basic and diluted per share against $3,711,000 or $0.05 basic and diluted per share a year ago. Adjusted net loss was $1,059,000 or $0.01 diluted per share against net income of $7,873,000 or $0.11 diluted per share a year ago. Cash flow from operations was $25,648,000 against $21,246,000 a year ago. EBITDA was $25,547,000 against $14,929,000 a year ago. For the year, the company’s operating revenues were $150,723,000 against $128,844,000 a year ago. Income from operations was $24,005,000 against $31,559,000 a year ago. Income before income taxes was $24,013,000 against $30,449,000 a year ago. Net income was $24,030,000 against $30,385,000 a year ago. Net income applicable to common stockholders was $24,020,000 or $0.31 basic and diluted per share against $30,375,000 or $0.42 basic and diluted per share a year ago. Adjusted net income was $18,606,000 or $0.24 diluted per share against $28,590,000 or $0.39 diluted per share a year ago. Cash flow from operations was $75,732,000 against $79,997,000 a year ago. EBITDA was $90,135,000 against $78,240,000 a year ago.

Warren Resources Inc. to Report Q4, 2014 Results on Mar 11, 2015

Warren Resources Inc. announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Mar 11, 2015

Warren Resources Inc., Q4 2014 Earnings Call, Mar 11, 2015

Warren Resources Inc., Q4 2014 Earnings Call, Mar 11, 2015

Warren Resources Inc. Reports Production Results for the Full Year 2014; Updates Production Guidance for the First Quarter Ending March 31, 2015 and Full Year Ending December 31, 2015

Warren Resources Inc. reported production results for the full year 2014. The company production for the full year 2014 grew 77% year-over-year to approximately 22.8 billion cubic feet of equivalent (Bcfe), approximately 70% of which is natural gas. This production growth is primarily attributable to increased volumes resulting from the acquisition of the Marcellus assets in the third quarter of 2014. The company is now budgeting $13 million in the Marcellus to drill and complete two Upper Marcellus wells in 2015 and for associated facilities. Drilling was completed on the first Upper Marcellus well, the Mirabelli 11H, in late January in the northeast portion of the Company's acreage position and completion operations are expected to commence in early March. The second well, the Ruark 11H, is planned in the center of the acreage block, with completion operations expected to commence in early May. Completion operations on two lower Marcellus wells were concluded in January, with initial production expected in mid-February. The company updated its full year 2015 production guidance to reflect the reduction in planned drilling and completion activity. For the full year ending December 31, 2015, Warren expects total production volumes to range between approximately 33 Bcfe to 36 Bcfe, a projected 52% increase over 2014, at the midpoint. Warren expects natural gas volumes to comprise approximately 84% of total production in 2015. The company expects oil production to be 900(MBbl) to 1,000(MBbl), Gas to be 28,000 (MMcf) to 30,000 (MMcf), oil equivalent to be 5,567 (MBoe) to 6,000 (MBoe) and gas equivalent to be 33,400 (MMcfe) to 36,000 (MMcfe). For the first quarter of ending March 31, 2015, the company expects oil production to be 260(MBbl) to 280 (MBbl), Gas to be 7,000 (MMcf) to 8,000 (MMcf), oil equivalent to be 1,427 (MBoe) to 1,613 (MBoe) and gas equivalent to be 8,560 (MMcfe) to 9,680 (MMcfe).

Warren Resources Inc. Presents at BMO Capital Markets Energy Forum, Jan-13-2015

Warren Resources Inc. Presents at BMO Capital Markets Energy Forum, Jan-13-2015 . Venue: 100 Stuart Street, Boston, Massachusetts, United States.

 

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Industry Analysis

WRES

Industry Average

Valuation WRES Industry Range
Price/Earnings 3.0x
Price/Sales 0.5x
Price/Book 0.3x
Price/Cash Flow 1.0x
TEV/Sales NM Not Meaningful
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