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|Warren Resources Announces That California SCAQMD Certifies CEQA Document and Issues Permits|
NEW YORK, Jul 21, 2011 (GlobeNewswire via COMTEX) -- Warren Resources, Inc. (Nasdaq:WRES) today reported that after three years of review, the California South Coast Air Quality Management District ("AQMD") certified the Company's California Environmental Quality Act ("CEQA") documents on July 19, 2011 and issued all of the related permits, including gas handling equipment, on July 20, 2011. These equipment upgrades will increase the Company's oil processing capability to 5,000 barrels of oil per day at the Wilmington Townlot Unit ("WTU") in the Wilmington Field in California. Warren's permits allow installing $2 million of high-efficiency, best available control technology equipment to meet these requirements.
The AQMD is the largest air quality management district in the nation and CEQA is the Act which sets requirements to be met by the AQMD prior to permit issuance. Any objections to the permits must be filed within 30 days of the July 25, 2011 required posting by the Los Angeles County Clerk.
Norman F. Swanton, Chairman and Chief Executive Officer of Warren commented: "We are very pleased to have our permits from the AQMD, allowing us to increase our production at WTU. This expansion will allow us to drill our inventory of 200 or more horizontal oil wells at our Wilmington Units more quickly in 2011 and beyond which should have a positive impact on future production and reserves bookings for the Company."
About Warren Resources
Warren Resources, Inc. is an independent energy company engaged in the exploration and development of domestic oil and natural gas reserves. Warren's activities are primarily focused on oil in the Wilmington field in California and natural gas in the Washakie Basin in Wyoming. The Company is headquartered in New York, New York, and its exploration and development subsidiary, Warren E&P, Inc., has offices in Long Beach, California and Casper, Wyoming.
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SOURCE: Warren Resources, Inc.
CONTACT: Warren Resources, Inc.