Warren Resources Inc. (WRES) reported fourth-quarter net income of $4.0 million, or $0.06 per share, compared to net income of $3.0 million, or $0.04 per share in the fourth quarter of 2011.
Total oil and gas revenue increased by 17% to $31.9 million compared to $27.3 million in 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share on revenues of $31.94 million for the quarter. Analysts' estimates typically exclude special items.
Philip Epstein, Chairman and Chief Executive Officer said, " As we announced earlier, our plan for 2013 is to drill 13 new oil wells and 3 water injection wells in the WTU. In our adjacent North Wilmington Unit ("NWU"), we plan to drill 4 new oil wells and 3 injection wells during 2013. While growing our oil production and reserves at the WTU and NWU and our natural gas production in the Washakie Basin are priorities, we are now in a position to consider attractive acquisitions in basins where we can implement our strengths which include enhanced oil recovery, advanced horizontal drilling expertise and Rocky Mountain natural gas development."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.