Warren Resources, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2014

 Published On: Jan, 2015 |    No of Pages: 93 |  Published By: GlobalData | Format: PDF
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Summary

Warren Resources, Inc. (Warren) is an oil and gas exploration company. It undertakes the acquisition, development and production of crude oil and natural gas. The company primarily focuses on the exploration and development of waterflood oil recovery properties in the Wilmington Field in the Los Angeles Basin of California. This basin consists of two units, namely, the North Wilmington Unit and Wilmington Townlot Unit (WTU). WTU has produced over 2.5 billion barrels of oil since its discovery. The company also undertakes the development of coalbed methane natural gas in the Rocky Mountain region, and is focused primarily in the Washakie Basin. The company operates through the subsidiaries in the US. Warren is headquartered in New York, the US

Warren Resources, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational data, analysis and strategic insight into company. The report provides latest annual and quarterly overview of production, reserves, share price performance, reserve changes, capital expenditures, acreage, performance metrics and results of oil & gas operations.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes -
- The report provides detailed and unique insights information on the key operational parameters. The report provides a comprehensive overview of production, reserves, reserve changes, capital expenditures, acreage, performance metrics, and results of oil & gas operations.
- Provides analysis of the share price performance of the company and the key valuation multiples. The report provides a comprehensive overview of share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides annual and quarterly information on key operational and financial parameters. Annual information is for the current and the last four years while the quarterly information is for the current and the last four quarters
- The report provides detailed crude oil and natural gas reserves and production information of the company by country as disclosed in their annual report and regulatory filings.
- Contains in-depth and latest information on exploration, development, finding & development, acquisition expenditure, gross and net developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in their annual report and regulatory filings.

Note: Scope of the report mentioned above is generic and may not be applicable to all the companies. The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.

Quarterly information is covered only for those companies which are December ending and files quarter report. There might be cases where countries/regions data column/Charts will be blank for last five years. This is due to companies might have discontinued reporting of that countries/regions during the last five year time period.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Provides up-to-date information and in-depth analysis on operational parameters of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational parameters of your competitors.
- Rank your performance against other E&P companies using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational parameters.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
Warren Resources, Inc., Valuation and Financial Data 9
Warren Resources, Inc., Share Price Performance 9
Share Price Performance, Q3, 2013-Q3, 2014 9
Warren Resources, Inc., Key Valuation Metrics 10
Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Warren Resources, Inc., Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q3, 2013-Q3, 2014 11
Results of Oil & Gas Operations Per boe Growth Rates, Q3, 2013-Q3, 2014 12
Warren Resources, Inc., Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Warren Resources, Inc., Quarterly Production Trends 14
Warren Resources, Inc., Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q3, 2013-Q3, 2014 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 15
Warren Resources, Inc., Crude Oil Production 16
Total Crude Oil Production Trend, Q3, 2013-Q3, 2014 16
Crude Oil Production, By Country/Region, Q3, 2013-Q3, 2014 17
Warren Resources, Inc., Natural Gas Production 18
Total Natural Gas Production Trend, Q3, 2013-Q3, 2014 18
Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 19
Warren Resources, Inc., Valuation and Financial Data, 2009-2013 20
Warren Resources, Inc., Share Price Performance, 2009-2013 20
Share Price Performance, 2009-2013 20
Key Valuation Metrics, 2009-2013 21
Warren Resources, Inc., Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2009-2013 24
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 27
Crude Oil Production and Reserves By Country/Region, 2009-2013 28
Crude Oil/Liquids Reserve Changes, 2009-2013 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2009-2013 31
Natural Gas Production and Reserves, By Country/Region, 2009-2013 32
Natural Gas Reserve Changes, 2009-2013 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 36
Warren Resources, Inc., E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2009-2013 38
Acquisition Costs By Country/Region, 2009-2013 39
Exploration and Development Costs, By Country/Region, 2009-2013 40
Oil and Gas Cost Per boe, US$/boe 42
Oil and Gas Cost Per boe, US$/boe, 2009-2013 42
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 44
Warren Resources, Inc., Reserve Replacement Ratio 46
Oil and Gas Production Replacement Ratio 46
Oil and Gas Production Replacement Ratio, 2009-2013 46
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 48
Warren Resources, Inc., Results of Oil & Gas Operations Trend 52
Oil and Gas Revenue and Expenses 52
Oil and Gas Revenue and Expenses, 2009-2013 52
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 53
Oil and Gas Revenue and Expenses, Per boe 57
Oil and Gas Revenue and Expenses, By boe, 2009-2013 57
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 58
Oil and Gas Performance Metrics 61
Warren Resources, Inc., Land Holdings and Well Data 62
Developed and Undeveloped Acreage 62
Gross and Net Developed and Undeveloped Acreage, 2009-2013 62
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 63
Well Statistics 66
Producible Oil and Gas Well, 2009-2013 66
Producible Oil and Gas Well, By Country/Region, 2009-2013 67
Exploration and Development Wells Drilled, 2009-2013 71
Exploration and Development Wells Drilled, By Country/Region, 2009-2013 72
Recent Developments 73
Warren Resources, Inc. - Recent Developments 73
Dec 10, 2014: Warren Resources Announces 2015 Capital Budget And Production Guidance 73
Dec 05, 2014: Warren Resources Announces CEO Transition 74
Nov 04, 2014: Warren Resources Announces Third Quarter 2014 Financial And Operating Results 74
Aug 11, 2014: Warren Resources Announces Second Quarter 2014 Financial and Operating Results 79
Aug 06, 2014: Warren Resources Prices $300 Million Offering of Senior Notes 83
Jun 09, 2014: Warren Resources Announces Increase in Borrowing Base to $175 Million Under Senior Credit Facility 83
May 07, 2014: Warren Resources Announces First Quarter 2014 Financial and Operating Results 83
Mar 06, 2014: Warren Resources Announces Fourth Quarter and Full-Year 2013 Results 85
Mar 06, 2014: Warren Resources Announces 2013 Production and Reserves and Provides 2014 Capital Budget 87
Feb 18, 2014: Warren Resources Announces the Appointment of Saema Somalya as Senior Vice President, General Counsel and Corporate Secretary 90
Appendix 91
Methodology 91
Coverage 91
Secondary Research 91
Primary Research 91
Data Information Sources 92
Company Source 92
SEC/Other Regulatory Filings 92
Other Sources 92
Expert Panel Validation 92
Data Definition 92
Oil and Gas Reserves 92
Units of Measure 93
About GlobalData 93
Disclosure 93
Disclaimer 93

List of Tables
Table 1: Warren Resources, Inc., Key Facts 8
Table 2: Warren Resources, Inc., Share Price Performance, Q3, 2013-Q3, 2014 9
Table 3: Warren Resources, Inc., Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Table 4: Warren Resources, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Table 5: Warren Resources, Inc., Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2013-Q3, 2014 12
Table 6: Warren Resources, Inc., Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Table 7: Warren Resources, Inc., Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 14
Table 8: Warren Resources, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Table 9: Warren Resources, Inc., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Table 10: Warren Resources, Inc., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Table 11: Warren Resources, Inc., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Table 12: Warren Resources, Inc., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Table 13: Warren Resources, Inc., Share Price Performance, 2009-2013 20
Table 14: Warren Resources, Inc., Key Valuation Metrics, 2009-2013 21
Table 15: Warren Resources, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 23
Table 16: Warren Resources, Inc., Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 25
Table 17: Warren Resources, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 26
Table 18: Warren Resources, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 27
Table 19: Warren Resources, Inc., Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 29
Table 20: Warren Resources, Inc., Crude Oil Reserve Changes, mmbbl, 2009-2013 30
Table 21: Warren Resources, Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 31
Table 22: Warren Resources, Inc., Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 33
Table 23: Warren Resources, Inc., Natural Gas Reserve Changes, bcf, 2009-2013 34
Table 24: Warren Resources, Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 35
Table 25: Warren Resources, Inc., Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 37
Table 26: Warren Resources, Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 38
Table 27: Warren Resources, Inc., Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 39
Table 28: Warren Resources, Inc., Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 41
Table 29: Warren Resources, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 43
Table 30: Warren Resources, Inc., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 45
Table 31: Warren Resources, Inc., Oil and Gas Production Replacement Ratio, %, 2009-2013 46
Table 32: Warren Resources, Inc., 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 51
Table 33: Warren Resources, Inc., Revenue and Expenses, US$ mil, 2009-2013 52
Table 34: Warren Resources, Inc., Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 56
Table 35: Warren Resources, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 57
Table 36: Warren Resources, Inc., Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 60
Table 37: Warren Resources, Inc., Oil and Gas Performance Metrics, 2009-2013 61
Table 38: Warren Resources, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 62
Table 39: Warren Resources, Inc., Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 65
Table 40: Warren Resources, Inc., Producible Oil and Gas Wells, 2009-2013 66
Table 41: Warren Resources, Inc., Producible Oil and Gas Wells, By Country/Region, 2009-2013 70
Table 42: Warren Resources, Inc., Exploratory and Developed Wells, 2009-2013 71
Table 43: Warren Resources, Inc., Exploratory and Developed Wells, By Country/Region, 2009-2013 72

List of Figures
Figure 1: Warren Resources, Inc., Share Price Performance, USD/Share, Q3, 2013-Q3, 2014 9
Figure 2: Warren Resources, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q3, 2013-Q3, 2014 10
Figure 3: Warren Resources, Inc., Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Figure 4: Warren Resources, Inc., Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 13
Figure 5: Warren Resources, Inc., Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 14
Figure 6: Warren Resources, Inc., Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Figure 7: Warren Resources, Inc., Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Figure 8: Warren Resources, Inc., Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Figure 9: Warren Resources, Inc., Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Figure 10: Warren Resources, Inc., Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Figure 11: Warren Resources, Inc., Share Price Performance, USD/Share, 2009-2013 20
Figure 12: Warren Resources, Inc., Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 21
Figure 13: Warren Resources, Inc., Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 22
Figure 14: Warren Resources, Inc., Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 24
Figure 15: Warren Resources, Inc., Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 24
Figure 16: Warren Resources, Inc., Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 26
Figure 17: Warren Resources, Inc., Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 27
Figure 18: Warren Resources, Inc., Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 28
Figure 19: Warren Resources, Inc., Oil Production, By Country/Region, mmbbl, 2009-2013 28
Figure 20: Warren Resources, Inc., Crude Oil Reserve Changes, mmbbl, 2013 30
Figure 21: Warren Resources, Inc., Natural Gas Production and Reserves Metrics, bcf, 2009-2013 31
Figure 22: Warren Resources, Inc., Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 32
Figure 23: Warren Resources, Inc., Gas Production, By Country/Region, bcf, 2009-2013 32
Figure 24: Warren Resources, Inc., Natural Gas Reserve Changes, bcf, 2013 34
Figure 25: Warren Resources, Inc., Oil and Gas Reserves Life Index, Years, 2009-2013 35
Figure 26: Warren Resources, Inc., Gas Reserve Life Index, By Country/Region, Ratio, 2009-2013 36
Figure 27: Warren Resources, Inc., Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2009-2013 36
Figure 28: Warren Resources, Inc., Oil Reserve Life Index, By Country/Region, Ratio, 2009-2013 37
Figure 29: Warren Resources, Inc., Upstream Capital Expenditure, US$ mil, 2009-2013 38
Figure 30: Warren Resources, Inc., Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 31: Warren Resources, Inc., Development Costs, By Country/Region, US$ mil, 2009-2013 40
Figure 32: Warren Resources, Inc., Exploration Costs, By Country/Region, US$ mil, 2009-2013 40
Figure 33: Warren Resources, Inc., 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 42
Figure 34: Warren Resources, Inc., Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 44
Figure 35: Warren Resources, Inc., Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 44
Figure 36: Warren Resources, Inc., Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2009-2013 45
Figure 37: Warren Resources, Inc., 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 46
Figure 38: Warren Resources, Inc., 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 48
Figure 39: Warren Resources, Inc., 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 48
Figure 40: Warren Resources, Inc., 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 49
Figure 41: Warren Resources, Inc., 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 49
Figure 42: Warren Resources, Inc., 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 50
Figure 43: Warren Resources, Inc., 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 50
Figure 44: Warren Resources, Inc., Revenue and Expenses, US$ mil, 2009-2013 52
Figure 45: Warren Resources, Inc., Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 53
Figure 46: Warren Resources, Inc., Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 53
Figure 47: Warren Resources, Inc., Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 54
Figure 48: Warren Resources, Inc., Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 54
Figure 49: Warren Resources, Inc., Production Costs, By Country/Region, US$ mil, 2009-2013 55
Figure 50: Warren Resources, Inc., Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 55
Figure 51: Warren Resources, Inc., Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 57
Figure 52: Warren Resources, Inc., Lifting Cost per boe, By Country/Region, US$/boe, 2009-2013 58
Figure 53: Warren Resources, Inc., Annual Net Income per boe, By Country/Region, US$/boe, 2009-2013 58
Figure 54: Warren Resources, Inc., Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2009-2013 59
Figure 55: Warren Resources, Inc., Total DD&A per boe, By Country/Region, US$/boe, 2009-2013 59
Figure 56: Warren Resources, Inc., Total Revenue per boe, By Country/Region, US$/boe, 2009-2013 60
Figure 57: Warren Resources, Inc., Oil and Gas Performance Metrics, 2009-2013 61
Figure 58: Warren Resources, Inc., Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 62
Figure 59: Warren Resources, Inc., Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 63
Figure 60: Warren Resources, Inc., Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 63
Figure 61: Warren Resources, Inc., Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 64
Figure 62: Warren Resources, Inc., Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 64
Figure 63: Warren Resources, Inc., Producible Oil and Gas Wells, 2009-2013 66
Figure 64: Warren Resources, Inc., Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 67
Figure 65: Warren Resources, Inc., Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 67
Figure 66: Warren Resources, Inc., Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 68
Figure 67: Warren Resources, Inc., Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 68
Figure 68: Warren Resources, Inc., Net Productive Gas Wells, By Country/Region, Number, 2009-2013 69
Figure 69: Warren Resources, Inc., Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 69
Figure 70: Warren Resources, Inc., Net Productive Oil Wells, By Country/Region, Number, 2009-2013 70
Figure 71: Warren Resources, Inc., Exploratory and Developed Wells, 2009-2013 71


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