Warren Resources, Inc. says that, effective immediately, the Board of Directors has appointed Warren Resources Board member, Lance Peterson, as Interim Chief Executive Officer and elected Warren Resources Board member, Dominick D'Alleva, as Interim Chairman of the Board. They will succeed Philip A. Epstein, who notified the Board of his decision to resign from his positions as Chairman and Chief Executive Officer in order to pursue other opportunities.
"Lance has been an active and important contributor to the Warren Board since he joined earlier this year and he is the ideal person to lead the Company forward throughout this leadership transition," said Mr. D'Alleva. "Lance has a proven track record of success as a CEO and has a deep understanding of our business, operations and strategy, and an appreciation for the hard work and dedication of our employees. He has more than 30 years of experience in the oil and gas industry and significant expertise in the acquisition, exploration, development and production of domestic onshore crude oil and gas reserves, as well as in the oil development and recovery activities. Since joining our Board upon the successful acquisition of the Marcellus assets of Citrus Energy Corporation, Lance has contributed significantly to our team, and we are confident his years of relevant industry and leadership experience will allow him to seamlessly take on the responsibilities of Interim CEO."