Exhibit 99.1
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 1 of 9
| MOR-1 | UNITED STATES BANKRUPTCY COURT |
| CASE NAME: | Warren Resources, Inc., et al. | PETITION DATE: | 6/2/2016 | |||||||
| CASE NUMBER: | 16-32760 | DISTRICT OF TEXAS: | Southern | |||||||
| DIVISION: | Houston |
MONTHLY OPERATING REPORT SUMMARY: July 2016
| MONTH | June | July | August | September | October | |||||||||||||||
REVENUES (MOR-6) | 4,988,081 | 5,650,524 | — | — | — | |||||||||||||||
INCOME BEFORE INT; DEPREC./TAX (MOR-6) | (1,169,637 | ) | 179,451 | — | — | — | ||||||||||||||
NET INCOME (LOSS) (MOR-6) | (10,162,825 | ) | (6,106,670 | ) | — | — | — | |||||||||||||
PAYMENTS TO INSIDERS (MOR-9) | 57,930 | 69,200 | — | — | — | |||||||||||||||
PAYMENTS TO PROFESSIONALS (MOR-9) | — | 755,662 | — | — | — | |||||||||||||||
TOTAL DISBURSEMENTS (MOR-7) | (10,302,272 | ) | (5,862,446 | ) | — | — | — | |||||||||||||
***The original of this document must be filed with the United States Bankruptcy Court and a copy must be sent to the United States Trustee***
REQUIRED INSURANCE MAINTAINED AS OF SIGNATURE DATE | EXP. DATE | |||||
CASUALTY | YES (X) NO ( ) | 09-01-2016 | ||||
LIABILITY | YES (X) NO ( ) | 09-01-2016 | ||||
VEHICLE | YES (X) NO ( ) | 09-01-2016 | ||||
WORKER’S | YES (X) NO ( ) | 09-01-2016 | ||||
OTHER | YES (X) NO ( ) | 09-01-2016 | ||||
| CIRCLE ONE | ||||
Are all accounts receivable being collected within terms? | Yes |
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Are all post-petition liabilities, including taxes, being paid within terms? |  | No | ||
Have any pre-petition liabilities been paid? | | No | ||
If so, describe: Certain payments were made pursuant to First Day Orders | ||||
Are all funds received being deposited into DIP bank accounts? | | No | ||
Were any assets disposed of outside the normal course of business? | Yes |  | ||
If so, describe | ||||
Are all U.S. Trustee Quarterly Fee Payments current? | | No | ||
What is the status of your Plan of Reorganization? Filed on July 18, 2016 | ||||
| July-2016 | ||||||||
Consolidated Debtors | Case Number | Disbursements | ||||||
Warren Resources, Inc. ( Plan filed on July 18, 2016) | 16-32760 | (7,213 | ) | |||||
Warren E&P, Inc. (Plan filed on July 18, 2016) | 16-32761 | (5,855,234 | ) | |||||
Warren Resources of California, Inc. (Plan filed on July 18, 2016) | 16-32762 | — | ||||||
Warren Marcellus, LLC (Plan filed on July 18, 2016) | 16-32764 | — | ||||||
Warren Energy Services, LLC (Plan filed on July 18, 2016) | 16-32765 | — | ||||||
Warren Management Corp. (Plan filed on July 18, 2016) | 16-32766 | — | ||||||
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Total consolidated disbursements (MOR-7) | (5,862,446 | ) | ||||||
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ATTORNEY NAME: | Timothy A. Davidson II | |
FIRM NAME: | Andrews Kurth LLP | |
ADDRESS: | 600 Travis | |
Suite 4200 | ||
CITY, STATE, ZIP: | Houston, Texas 77002 | |
TELEPHONE/FAX: | 713-220-4200 |
I certify under penalty of perjury that the following complete Monthly Operating Report (MOR), consisting of MOR-1 through MOR-9 plus attachments, is true and correct. | ||
SIGNED X
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| (ORIGINAL SIGNATURE) | ||
TITLE: | President, Chief Executive Officer and Chief Restructuring Officer | |
MOR-1
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 2 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |
| CASE NUMBER: | 16-32760 | |
COMPARATIVE BALANCE SHEETS
ASSETS | FILING DATE (1) June 2, 2016 | MONTH June 2016 | MONTH July 2016 | MONTH August 2016 | MONTH September 2016 | |||||||||||||||
CURRENT ASSETS | ||||||||||||||||||||
Cash (2) | 13,918,623 | 11,090,776 | 11,366,706 | — | — | |||||||||||||||
Accounts Receivable, Net | 10,235,813 | 9,275,942 | 9,709,987 | — | — | |||||||||||||||
Inventory: Lower of Cost or Market | — | — | — | — | — | |||||||||||||||
Prepayments and other current assets | 5,656,625 | 5,188,894 | 4,668,701 | — | — | |||||||||||||||
Investments | 6,087,653 | 1,844,008 | 2,126,726 | — | — | |||||||||||||||
Other | — | — | — | — | — | |||||||||||||||
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TOTAL CURRENT ASSETS | 35,898,715 | 27,399,619 | 27,872,120 | — | — | |||||||||||||||
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PROPERTY, PLANT & EQUIP. @ COST | 27,636,990 | 27,667,366 | 27,668,188 | — | — | |||||||||||||||
Less Accumulated Depreciation | (26,305,548 | ) | (26,365,769 | ) | (26,424,438 | ) | — | — | ||||||||||||
NET BOOK VALUE OF PP & E | 1,331,442 | 1,301,597.45 | 1,243,749.55 | — | — | |||||||||||||||
OTHER ASSETS | ||||||||||||||||||||
1. Deferred Financing Costs | 10,598,434 | 10,400,273 | 10,202,112 | — | — | |||||||||||||||
2. Oil & Gas Properties | 115,893,656 | 113,741,170 | 112,477,430 | — | — | |||||||||||||||
3. Oil & Gas Properties, Other | 14,657,923 | 14,657,923 | 14,657,923 | — | — | |||||||||||||||
4. Notes Receivable | 2,948,592 | 2,948,592 | 2,948,592 | — | — | |||||||||||||||
5. Midstream Assets | 20,012,903 | 19,895,178 | 19,810,941 | — | — | |||||||||||||||
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TOTAL ASSETS | $ | 201,341,665 | 190,344,353 | 189,212,867 | — | — | ||||||||||||||
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| (1) | Information as of May 31, 2016. |
| MOR-2 | Revised 07/01/98 |
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 3 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |
| CASE NUMBER: | 16-32760 | |
COMPARATIVE BALANCE SHEETS
LIABILITIES & OWNER’S EQUITY | FILING DATE (1) June 2, 2016 | MONTH June 2016 | MONTH July 2016 | MONTH August 2016 | MONTH September 2016 | |||||||||||||||
LIABILITIES | ||||||||||||||||||||
POST-PETITION LIABILITIES(MOR-4) | — | 6,242,054 | 8,131,936 | — | — | |||||||||||||||
PRE-PETITION LIABILITIES | ||||||||||||||||||||
Notes Payable - Secured | — | — | — | — | — | |||||||||||||||
Priority Debt | 477,338,089 | 477,515,421 | 475,858,222 | — | — | |||||||||||||||
Federal Income Tax | — | — | — | — | — | |||||||||||||||
FICA/Withholding | — | — | — | — | — | |||||||||||||||
Unsecured Debt | — | — | — | — | — | |||||||||||||||
Other (2) | 80,997,280 | 73,618,449 | 78,658,748 | — | — | |||||||||||||||
TOTAL PRE-PETITION LIABILITIES | 558,335,368 | 551,133,870 | 554,516,970 | — | — | |||||||||||||||
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TOTAL LIABILITIES | 558,335,368 | 557,375,925 | 562,648,906 | — | — | |||||||||||||||
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OWNER’S EQUITY (DEFICIT) | ||||||||||||||||||||
PREFERRED STOCK | 128,437 | 128,437 | 128,437 | — | — | |||||||||||||||
COMMON STOCK | 8,520 | 8,520 | 8,520 | — | — | |||||||||||||||
ADDITIONAL PAID-IN CAPITAL | 517,385,291 | 517,510,247 | 517,212,450 | — | — | |||||||||||||||
RETAINED EARNINGS: Filing Date | (874,515,951 | ) | (874,515,951 | ) | (874,515,951 | ) | — | — | ||||||||||||
RETAINED EARNINGS: Post Filing Date | — | (10,162,825 | ) | (16,269,495 | ) | — | — | |||||||||||||
TOTAL OWNER’S EQUITY (NET WORTH) | (356,993,703 | ) | (367,031,572 | ) | (373,436,039 | ) | — | — | ||||||||||||
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LIABILITIES & OWNERS EQUITY | $ | 201,341,665 | $ | 190,344,353 | $ | 189,212,867 | $ | 0 | 0 | |||||||||||
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| (1) | Information as of May 31, 2016. |
| (2) | Pursuant to court order, prepetition lease operating expenses continue to be due and payable post petition. Increase from June to July 2016 primarily relates to accrued interest. |
| MOR-3 | Revised 07/01/98 |
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 4 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |
| CASE NUMBER: | 16-32760 | |
SCHEDULE OF POST-PETITION LIABILITIES
| FILING DATE June 2, 2016 | MONTH June 2016 | MONTH July 2016 | MONTH August 2016 | MONTH September 2016 | ||||||||||||||||
TRADEACCOUNTSPAYABLE | — | 930,910 | 2,396,078 | — | — | |||||||||||||||
TAX PAYABLE | ||||||||||||||||||||
Federal Payroll Taxes | — | — | — | — | — | |||||||||||||||
State Payroll Taxes | — | — | — | — | — | |||||||||||||||
Ad Valorem Taxes | — | 29,161 | 61,055 | — | — | |||||||||||||||
Other Taxes | — | 45,949 | 127,750 | — | — | |||||||||||||||
TOTAL TAXES PAYABLE (1) | — | 75,110 | 188,805 | — | — | |||||||||||||||
SECURED DEBT POST-PETITION | — | — | — | — | — | |||||||||||||||
ACCRUED INTEREST PAYABLE | — | — | — | — | — | |||||||||||||||
OTHER ACCRUED LIABILITIES | ||||||||||||||||||||
1. PAYROLL (2) | — | 225,437 | 275,210 | — | — | |||||||||||||||
2. LEASE OPERATING & G&A (3) | — | 3,555,832 | 3,542,704 | — | — | |||||||||||||||
3. ROYALTIES (4) | — | 1,454,765 | 1,729,138 | — | — | |||||||||||||||
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TOTALPOST-PETITIONLIABILITIES(MOR-3) | $ | — | $ | 6,242,054 | $ | 8,131,936 | $ | — | $ | — | ||||||||||
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| (1) | The balance represents the movement of accounts between June 30 and July 31, 2016. |
| (2) | Represents a timing difference for the payment of the debtor’s bi-weekly payroll. |
| (3) | July 2016 includes unpaid restructuring professional fees ($2,149,000), post-production costs ($1,049,704) and lease operating expense ($344,000). |
| (4) | Represents proceeds from gross production receipts that are payable to third-party working interests. |
| MOR-4 | Revised 07/01/98 |
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 5 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |
| CASE NUMBER: | 16-32760 | |
AGING OF POST-PETITION LIABILITIES: JULY 2016
DAYS | TOTAL | TRADE ACCOUNTS | FEDERAL TAXES | STATE TAXES | AD VALOREM, OTHER TAXES | OTHER | ||||||||||||||||||
0-30 | 9,498,177 | 2,396,078 | — | — | 1,555,047 | 5,547,052 | ||||||||||||||||||
31-60 | — | — | — | — | — | — | ||||||||||||||||||
61-90 | — | — | — | — | — | — | ||||||||||||||||||
91+ | — | — | — | — | — | — | ||||||||||||||||||
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TOTAL | 9,498,177 | $ | 2,396,078 | $ | 0 | $ | 0 | $ | 1,555,047 | $ | 5,547,052 | |||||||||||||
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AGING OF ACCOUNTS RECEIVABLE (2)
MONTH | June 2, 2016 (1) | June 2016 | July 2016 | August 2016 | September 2016 | |||||||||||||||
0-30 DAYS | 6,072,541 | 5,983,435 | 7,195,913 | — | — | |||||||||||||||
31-60 DAYS | — | — | — | — | — | |||||||||||||||
61-90 DAYS | — | — | — | — | — | |||||||||||||||
91+ DAYS | 4,163,272 | 3,292,507 | 2,514,074 | — | — | |||||||||||||||
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TOTAL | $ | 10,235,813 | $ | 9,275,942 | $ | 9,709,987 | $ | 0 | $ | 0 | ||||||||||
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| (1) | Information as of May 31, 2016. |
| (2) | Warren’s Accounts Receivable accounts do not represent any Oil and Gas production that has not been sold. |
| MOR-5 |
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 6 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |
| CASE NUMBER: | 16-32760 | |
STATEMENT OF INCOME (LOSS)
| MONTH June 2016 | MONTH July 2016 | MONTH August 2016 | MONTH September 2016 | FILING TO DATE | ||||||||||||||||
REVENUES (MOR-1) | 4,988,081 | 5,650,524 | 10,638,605 | |||||||||||||||||
TOTAL COST OF REVENUES | (2,660,189 | ) | (3,912,326 | ) | (6,572,515 | ) | ||||||||||||||
GROSS PROFIT | 2,327,892 | 1,738,198 | 4,066,090 | |||||||||||||||||
OPERATING EXPENSES: | ||||||||||||||||||||
Selling & Marketing | — | — | — | |||||||||||||||||
General & Administrative | (3,497,529 | ) | (1,558,747 | ) | (5,056,276 | ) | ||||||||||||||
Other | — | — | — | |||||||||||||||||
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TOTAL OPERATING EXPENSES | (3,497,529 | ) | (1,558,747 | ) | (5,056,276 | ) | ||||||||||||||
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INCOME BEFORE INT, DEPR/TAX (MOR-1) | (1,169,637 | ) | 179,451 | (990,186 | ) | |||||||||||||||
INTEREST EXPENSE (1) | (3,441,934 | ) | (3,570,906 | ) | (7,012,840 | ) | ||||||||||||||
DEPRECIATION | (2,601,328 | ) | (2,566,888 | ) | (5,168,216 | ) | ||||||||||||||
OTHER (INCOME) EXPENSE (2) | (2,949,926 | ) | (148,327 | ) | (3,098,253 | ) | ||||||||||||||
OTHER ITEMS | — | — | — | |||||||||||||||||
TOTAL INT, DEPR & OTHER ITEMS | (8,993,188 | ) | (6,286,121 | ) | (15,279,309 | ) | ||||||||||||||
NET INCOME BEFORE TAXES | (10,162,825 | ) | (6,106,670 | ) | (16,269,495 | ) | ||||||||||||||
FEDERAL INCOME TAXES | — | — | — | |||||||||||||||||
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NET INCOME (LOSS) (MOR-1) | (10,162,825 | ) | (6,106,670 | ) | (16,269,495 | ) | ||||||||||||||
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Accrual Accounting Required, Otherwise Footnote with Explanation.
July 2016 notes:
| (1) | Deferred Financing Costs ($198,161) and Interest Expenses ($3,372,745) |
| (2) | Accretion of asset retirement obligations ($249,914), Gain on derivative instruments ($363,674), Loss on USTB investment ($355), Loss on contingent consideration ($50,000) and Other expenses ($211,732) |
| MOR-6 |
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 7 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |
| CASE NUMBER: | 16-32760 | |
CASH RECEIPTS AND DISBURSEMENTS | MONTH June 2016 | MONTH July 2016 | MONTH August 2016 | MONTH September 2016 | MONTH October 2016 | FILING TO DATE | ||||||||||||||||||
1. CASH-BEGINNING OF MONTH (3) | 12,858,577 | 11,072,052 | — | — | — | 12,858,577 | ||||||||||||||||||
RECEIPTS: | ||||||||||||||||||||||||
2. CASH SALES | — | — | — | — | — | — | ||||||||||||||||||
3. COLLECTION OF ACCOUNTS RECEIVABLE | 8,515,748 | 6,157,099 | — | — | — | 14,672,847 | ||||||||||||||||||
4. LOANS & ADVANCES (attach list) | — | — | — | — | — | — | ||||||||||||||||||
5. SALE OF ASSETS | — | — | — | — | — | — | ||||||||||||||||||
6. OTHER (attach list) | — | — | — | — | — | — | ||||||||||||||||||
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TOTAL RECEIPTS | 8,515,748 | 6,157,099 | — | — | — | 8,515,748 | ||||||||||||||||||
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(Withdrawal) Contribution by Individual Debtor MFR-2* | — | — | — | — | — | — | ||||||||||||||||||
DISBURSEMENTS: | ||||||||||||||||||||||||
7. NET PAYROLL | (569,986 | ) | (684,643 | ) | — | — | — | (1,254,629 | ) | |||||||||||||||
8. PAYROLL TAXES PAID | — | — | — | — | — | — | ||||||||||||||||||
9. SALES, USE & OTHER TAXES PAID | (57,036 | ) | (23,150 | ) | — | — | — | (80,186 | ) | |||||||||||||||
10. SECURED/RENTAL/LEASES | — | — | — | — | — | — | ||||||||||||||||||
11. UTILITIES & TELEPHONE | — | — | — | — | — | — | ||||||||||||||||||
12. INSURANCE | — | — | — | — | — | — | ||||||||||||||||||
13. INVENTORY PURCHASES | — | — | — | — | — | — | ||||||||||||||||||
14. VEHICLE EXPENSES | — | — | — | — | — | — | ||||||||||||||||||
15. TRAVEL & ENTERTAINMENT | — | — | — | — | — | — | ||||||||||||||||||
16. REPAIRS, MAINTENANCE & SUPPLIES | (2,228,526 | ) | (1,586,412 | ) | — | — | — | (3,814,938 | ) | |||||||||||||||
17. ADMINISTRATIVE & SELLING | (227,951 | ) | (460,266 | ) | — | — | — | (688,217 | ) | |||||||||||||||
18. OTHER (2) | (1,558,563 | ) | (2,213,085 | ) | — | — | — | (3,771,648 | ) | |||||||||||||||
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TOTAL DISBURSEMENTS FROM OPERATIONS | (4,642,062 | ) | (4,967,557 | ) | — | — | — | (4,642,062 | ) | |||||||||||||||
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19. PROFESSIONAL FEES | — | (755,662 | ) | — | — | — | (755,662 | ) | ||||||||||||||||
20. U.S. TRUSTEE FEES | — | (24,700 | ) | — | — | — | (24,700 | ) | ||||||||||||||||
21. OTHER REORGANIZATION EXPENSES (3) | (5,660,210 | ) | (114,527 | ) | — | — | — | (5,774,737 | ) | |||||||||||||||
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TOTAL DISBURSEMENTS (4) | (10,302,272 | ) | (5,862,446 | ) | — | — | — | (10,302,272 | ) | |||||||||||||||
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22. NET CASH FLOW | (1,786,524 | ) | 294,653 | — | — | — | (1,491,872 | ) | ||||||||||||||||
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23. CASH — END OF MONTH | 11,072,052 | 11,366,705 | — | — | — | 11,366,705 | ||||||||||||||||||
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| (1) | June 2016 closing cash balance does not reconcile to balance sheet cash due to the exclusion of one bank account held in the name of “Warren Development Corp.” totalling $18,722.46. |
July 2016 notes:
| (2) | Other, includes royalty payments on land assets ($1,333,085) and capital expenditure ($880,000). |
| (3) | Other Reorganization Expenses relates to utility adequate assurance payment. |
| (4) | Includes all checks written, wire transfers made from, or any other withdrawal from the bank accounts listed on MOR-8. No amounts have been paid from the accounts of others on the debtor’s behalf. |
| MOR-7 |
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 8 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |||||
| CASE NUMBER: | 16-32760 | |||||
CASH ACCOUNT RECONCILIATION MONTH OF July 2016 |
BANK NAME | JP MORGAN CHASE | JP MORGAN CHASE | JP MORGAN CHASE | JP MORGAN CHASE | MERRILL LYNCH (1) | MERRILL LYNCH | JP MORGAN CHASE | JP MORGAN CHASE | JP MORGAN CHASE | JP MORGAN CHASE | ||||||||||||||||||||||||||||||||||
ACCOUNT NUMBER | 3794 | 5477 | 7471 | 2692 | 7789 & 7B88 | 3751 | 6115 | 2888 | 5209 | |||||||||||||||||||||||||||||||||||
ACCOUNT TYPE |
| CDA BY GSO |
| PAYROLL | OPERATIONS | CD-COLLATERAL |
| STOCK OPTIONS |
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| MONEY MARKET |
| DISBURSEMENT | CHECKING | CHECKING | OPERATIONS | TOTAL (1) | |||||||||||||||||||||||||||
CASE NAME | | Warren Resources, | | | Warren Resources, | | | Warren Resources, | |
| Warren Resources, Inc. |
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| Warren Resources, Inc. |
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| Warren Resources, Inc. |
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| Warren E&P, Inc. |
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| Warren E&P, Inc. |
| | Warren Resources | |
| Warren Energy Services, LLC |
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CASE NUMBER | 16-32760 | 16-32760 | 16-32760 | 16-32760 | 16-32760 | 16-32760 | 16-32761 | 16-32761 | 16-32762 | 16-32765 | n/a | |||||||||||||||||||||||||||||||||
BANK BALANCE | $ | — | $ | 109,110 | $ | 7,193,097 | $ | — | $ | 16,443 | $ | — | $ | 6,134,173 | $ | — | $ | — | $ | — | $ | 13,452,823 | ||||||||||||||||||||||
DEPOSITS IN TRANSIT | $ | — | $ | — | $ | 5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 5 | ||||||||||||||||||||||
OUTSTANDING CHECKS | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (2,086,123 | ) | $ | — | $ | — | $ | — | $ | (2,086,123 | ) | ||||||||||||||||||||
ADJUSTED BANK BALANCE | $ | — | $ | 109,110 | $ | 7,193,102 | $ | — | $ | 16,443 | $ | — | $ | 4,048,050 | $ | — | $ | — | $ | — | $ | 11,366,706 | ||||||||||||||||||||||
BEGINNING CASH - PER BOOKS | $ | — | $ | 109,667 | $ | 7,089,819 | $ | 17,140 | $ | 17,007 | $ | 4,081 | $ | 3,834,339 | $ | — | $ | — | $ | — | $ | 11,072,052 | ||||||||||||||||||||||
RECEIPTS | $ | — | $ | — | $ | 141,833 | $ | 5 | $ | — | $ | — | $ | 5,741,099 | $ | — | $ | — | $ | 274,162 | $ | 6,157,099 | ||||||||||||||||||||||
TRANSFERS OUT OF ACCOUNT | $ | — | $ | — | $ | (36,538 | ) | $ | (17,145 | ) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (274,162 | ) | $ | (327,845 | ) | ||||||||||||||||||
TRANSFERS INTO ACCOUNT | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 327,845 | $ | — | $ | — | $ | — | $ | 327,845 | ||||||||||||||||||||||
CHECKS/OTHER DISBURSEMENTS | $ | — | $ | (557 | ) | $ | (2,012 | ) | $ | — | $ | (564 | ) | $ | (4,081 | ) | $ | (5,855,234 | ) | $ | — | $ | — | $ | — | $ | (5,862,447 | ) | ||||||||||||||||
ENDING CASH - PER BOOKS | $ | — | $ | 109,110 | $ | 7,193,102 | $ | — | $ | 16,443 | $ | — | $ | 4,048,050 | $ | — | $ | — | $ | — | $ | 11,366,705 | ||||||||||||||||||||||
| (1) | Merrill Lynch account #7789 and #7B88 have been consolidated to reflect the Company’s balance sheet. |
| MOR-8 |
Case 16-32760 Document 282 Filed in TXSB on 08/22/16 Page 9 of 9
| CASE NAME: | Warren Resources, Inc., et al. | |
| CASE NUMBER: | 16-32760 | |
PAYMENTS TO INSIDERS AND PROFESSIONALS
Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals. Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.) (Attach additional pages as necessary).
INSIDERS: NAME/COMP TYPE | MONTH June 2016 | MONTH July 2016 | MONTH August 2016 | MONTH September 2016 | ||||||||||||
1. James A Watt | 17,691 | 27,450 | — | — | ||||||||||||
2. Frank T. Smith Jr. | 17,684 | 17,684 | — | — | ||||||||||||
3. John R. Powers | 11,484 | 11,758 | — | — | ||||||||||||
4. Zach Waite | 11,071 | 12,308 | — | — | ||||||||||||
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TOTAL INSIDERS (MOR-1) | 57,930 | 69,200 | — | — | ||||||||||||
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PROFESSIONALS | MONTH June 2016 | MONTH July 2016 | MONTH August 2016 | MONTH September 2016 | ||||||||||||
1. Andrews Kurth LLP | — | — | — | — | ||||||||||||
2. Jefferies LLC | — | — | — | — | ||||||||||||
3. Deloitte Transactions and Business Analytics LLP | — | — | — | — | ||||||||||||
4. Epiq Systems | — | — | — | — | ||||||||||||
5. Kirkland & Ellis LLP | — | 755,662 | — | — | ||||||||||||
6. Bracewell & Giuliani LLP | — | — | — | — | ||||||||||||
7. Stroock & Stroock & Lavan LLP | — | — | — | — | ||||||||||||
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TOTAL PROFESSIONALS (MOR-1) | — | 755,662 | — | — | ||||||||||||
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| MOR-9 |