Warren Resources Inc. (WRES, Financial) filed Quarterly Report for the period ended 2012-06-30.
Warren Resources, Inc. has a market cap of $180.7 million; its shares were traded at around $2.89 with a P/E ratio of 6.5 and P/S ratio of 1.8. Warren Resources, Inc. had an annual average earning growth of 19.7% over the past 5 years.
Oil and gas sales. Revenue from oil and gas sales increased $8.5 million in the first six months of 2012 to $58.5 million, a 17% increase compared to the same period in 2011. This increase primarily resulted from an increase in oil production. Net oil production for the six months ended June 30, 2012 and 2011 was 542 Mbbls and 433 Mbbls, respectively. Net gas production for the six months ended June 30, 2012 and 2011 was 2.47 Bcf and 2.42 Bcf, respectively. The average realized price per barrel of oil for the six months ended June 30, 2012 and 2011 was $97 and $93, respectively. Additionally, the average realized price per Mcf of gas for the six months ended June 30, 2012 and 2011 was $2.34 and $4.14, respectively.
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Warren Resources, Inc. has a market cap of $180.7 million; its shares were traded at around $2.89 with a P/E ratio of 6.5 and P/S ratio of 1.8. Warren Resources, Inc. had an annual average earning growth of 19.7% over the past 5 years.
Highlight of Business Operations:
Oil and gas sales. Revenue from oil and gas sales increased $3.3 million in the second quarter of 2012 to $30.2 million, a 12% increase compared to the same quarter in 2011. This increase resulted from an increase in oil production. Net oil production for the three months ended June 30, 2012 and 2011 was 293 Mbbls and 224 Mbbls, respectively. Net gas production for the three months ended June 30, 2012 and 2011 was 1.24 Bcf and 1.24 Bcf, respectively. The average realized price per barrel of oil for the three months ended June 30, 2012 and 2011 was $95 and $97, respectively. Additionally, the average realized price per Mcf of gas for the three months ended June 30, 2012 and 2011 was $1.84 and $4.13, respectively.Oil and gas sales. Revenue from oil and gas sales increased $8.5 million in the first six months of 2012 to $58.5 million, a 17% increase compared to the same period in 2011. This increase primarily resulted from an increase in oil production. Net oil production for the six months ended June 30, 2012 and 2011 was 542 Mbbls and 433 Mbbls, respectively. Net gas production for the six months ended June 30, 2012 and 2011 was 2.47 Bcf and 2.42 Bcf, respectively. The average realized price per barrel of oil for the six months ended June 30, 2012 and 2011 was $97 and $93, respectively. Additionally, the average realized price per Mcf of gas for the six months ended June 30, 2012 and 2011 was $2.34 and $4.14, respectively.
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