Warren Resources Value Stock - Dividend - Research Selection
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Description of the company
Warren Resources, Inc. (Warren) is an independent energy company engaged in the exploration, development and production of domestic onshore oil and gas reserves. The Company is focused primarily on the exploration and development of its water flood oil well properties in the Wilmington Field within the Los Angeles Basin of California and its coalbed methane (CBM) gas wells in the Rocky Mountain region. The Company's properties are located primarily in California, Wyoming, New Mexico, North Dakota and Texas. As of December 31, 2012, it had ground rent of around 124,587 gross acres (94,140 net), of which around 85% are undeveloped. On October 9, 2012 (effective August 1, 2012), the Company acquired certain additional natural gas and midstream assets from subsidiaries of Anadarko Petroleum Corporation (Anadarko) in the Atlantic Rim project in the Washakie Basin.