ACQUISITIONS (Tables) - Citrus Acquisition Of Marcellus Assets

12 Months Ended

Dec. 31, 2015

Schedule of business acquisition purchase price

The purchase price of the Marcellus Assets was as follows (in thousands):

	2014
Cash Consideration	$	312,500
Fair Value of Warren Equity Common Shares		41,400
Closing Adjustments		(7,828	)
Fair Value of Earn-Out Provision		6,340
Fair Value of Farm-Out Provision		3,410
Total purchase price	$	355,822

Schedule of initial purchase price allocation of the acquisition

The following table presents the purchase price allocation of the Marcellus Assets as of December 31, 2014, based on the fair values of assets acquired and liabilities assumed (in thousands):

	2014
Proved Oil and Gas Properties	$	171,383
Unproved Oil and Gas Properties		184,752
Asset Retirement Obligations		(313	)
Total purchase price	$	355,822

Summary of unaudited pro forma financial information

	For the Year Ended December 31, 2014
	(in thousands)
Revenues	$	212,518
Income (loss) from Operations	$	57,800
Net income	$	52,395
Diluted net income per share	$	0.65