Warren Resources (WRES) 8-K Entry into a Material Definitive Agreement

Exhibit 99.1

Warren Resources, Inc.,et al.

Debtor-in-possession Budget

Report Date: 07/07/2016 (v.18.4)

United States Dollar ($ Million)	Week ending	Jun-05			Jun-12			Jun-19			Jun-26			Jul-03			Jul-10			Jul-17			Jul-24			Jul-31			Aug-07			Aug-14			Aug-21			Aug-28			Sep-04			Sep-11		Sep-18			Sep-25			Oct-02			Oct-09		Oct-16			Oct-23		Oct-30			Nov-06			Total ending period - 23
	Period	1			2			3			4			5			6			7			8			9			10			11			12			13			14			15		16			17			18			19		20			21		22			23
	Reporting	Actual			Actual			Actual			Actual			Actual			Forecast			Forecast			Forecast			Forecast			Forecast			Forecast			Forecast			Forecast			Forecast			Forecast		Forecast			Forecast			Forecast			Forecast		Forecast			Forecast		Forecast			Forecast
Production Receipts			—			—			0.0			3.1			2.1			0.0			—			3.2			2.1			—			0.0			3.3			2.6			—			0.0		—			6.2			—			—		0.1			3.3		3.0			—			29.1
Joint Interest Billing Receipts			0.0			—			0.0			—			0.1			—			—			0.4			—			—			—			0.4			—			—			—		—			0.4			—			—		—			0.4		—			—			1.7
Hedge Proceeds and Other Operating Receipts			1.2			0.1			1.6			—			0.3			0.1			—			—			0.2			—			0.0			—			0.2			—			0.0		—			0.2			—			—		—			—		0.2			—			4.1
Total Operating Receipts			1.2			0.1			1.7			3.1			2.5			0.1			—			3.6			2.2			—			0.1			3.7			2.8			—			0.0		—			6.7			—			—		0.1			3.7		3.2			—			34.9
Lease operating expenses			—			(0.5	)		(0.4	)		(0.4	)		(1.0	)		(0.4	)		(1.2	)		—			(2.7	)		—			—			(1.6	)		—			(3.1	)		—		(1.6	)		—			(1.9	)		—		(1.6	)		—		(1.6	)		—			(17.7	)
Ad Valorem Taxes			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—		—			—			—			—		—			—		(1.6	)		—			(1.6	)
Severance Taxes			—			—			—			(0.0	)		(0.0	)		(0.0	)		—			—			(0.0	)		—			(0.2	)		—			(0.0	)		—			—		—			(0.0	)		(0.0	)		—		—			—		(0.0	)		(0.0	)		(0.4	)
Royalties			—			(0.5	)		—			(0.0	)		(1.0	)		(0.0	)		—			—			(1.5	)		—			—			—			—			(1.5	)		—		—			—			(1.7	)		—		—			—		(1.8	)		—			(8.1	)
General and administrative expense			(0.0	)		0.0			(0.1	)		(0.0	)		(0.1	)		(0.2	)		(0.1	)		—			(0.2	)		—			—			(0.4	)		—			(1.4	)		—		(0.4	)		—			(0.2	)		—		(0.4	)		—		(0.3	)		—			(3.8	)
Salaries			(0.0	)		(0.3	)		(0.0	)		(0.3	)		(0.0	)		(0.3	)		—			(0.3	)		—			(0.3	)		—			(0.3	)		—			(0.3	)		—		(0.3	)		—			(0.3	)		—		(0.3	)		—		(0.3	)		—			(3.3	)
Total Operating Disbursements			(0.0	)		(1.2	)		(0.5	)		(0.8	)		(2.1	)		(0.9	)		(1.3	)		(0.3	)		(4.4	)		(0.3	)		(0.2	)		(2.2	)		(0.0	)		(6.3	)		—		(2.2	)		(0.0	)		(4.2	)		—		(2.3	)		—		(5.5	)		(0.0	)		(35.0	)
Net Cash Flow From Operations			1.2			(1.1	)		1.1			2.3			0.4			(0.8	)		(1.3	)		3.3			(2.2	)		(0.3	)		(0.2	)		1.4			2.8			(6.3	)		0.0		(2.2	)		6.7			(4.2	)		—		(2.2	)		3.7		(2.3	)		(0.0	)		(0.1	)
Debt Service			—			—			(0.0	)		—			—			—			—			—			(0.0	)		—			—			—			—			(0.6	)		—		—			—			(0.0	)		—		—			—		—			(1.1	)		(1.8	)
Restructuring Disbursements			(0.9	)		—			—			—			(5.6	)		(0.1	)		(0.4	)		—			(3.8	)		—			—			—			—			(3.3	)		—		—			—			(3.2	)		—		—			—		(1.4	)		(10.1	)		(29.0	)
Total Non-Operating Disbursements			(0.9	)		—			(0.0	)		—			(5.6	)		(0.1	)		(0.4	)		—			(3.8	)		—			—			—			—			(4.0	)		—		—			—			(3.3	)		—		—			—		(1.4	)		(11.2	)		(30.8	)
Net Cash Flow			0.3			(1.1	)		1.1			2.3			(5.2	)		(0.9	)		(1.7	)		3.3			(6.0	)		(0.3	)		(0.2	)		1.4			2.8			(10.3	)		0.0		(2.2	)		6.7			(7.5	)		—		(2.2	)		3.7		(3.7	)		(11.2	)		(30.8	)
Debtor-In-Possession Facility Drawdown			—			—			—			—			—			—			—			—			—			—			—			—			—			1.0			—		2.0			—			1.0			—		2.0			—		—			12.0			18.0
Movement in Restricted Cash			—			—			10.0			—			—			—			—			—			—			—			—			—			—			—			—		—			—			—			—		—			—		—			—			10.0
Opening Cash Balance			3.8			4.0			2.9			14.1			16.4			11.2			10.3			8.6			11.9			5.9			5.6			5.5			6.9			9.7			0.4		0.5			0.2			7.0			0.5		0.5			0.3		3.9			0.2			3.8
Ending Cash Balance			4.0			2.9			14.1			16.4			11.2			10.3			8.6			11.9			5.9			5.6			5.5			6.9			9.7			0.4			0.5		0.2			7.0			0.5			0.5		0.3			3.9		0.2			1.0			1.0
Restricted Cash			10.0			10.0			—			—			—			—			—			—			—			—			—			—			—			—			—		—			—			—			—		—			—		—			—			—
Debtor-In-Possession Facility Availability			20.0			20.0			20.0			20.0			20.0			20.0			20.0			20.0			20.0			20.0			20.0			20.0			20.0			19.0			19.0		17.0			17.0			16.0			16.0		14.0			14.0		14.0			2.0			2.0

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