ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2015

ACQUISITIONS

Schedule of business acquisition purchase price

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

	December 31, 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 initial purchase price allocation of the Marcellus Asset, based on the fair values of assets acquired and liabilities assumed (in thousands):

	December 31, 2014
Proved oil and gas properties	$	171,070
Unproved oil and gas properties	184,752
Total purchase price	$	355,822

Summary of unaudited pro forma financial information

	For the Three Months		For the Six Months
	Ended June 30,		Ended June 30,
(in thousands)	2014		2014
Revenues	$	58,522	$	121,081
Income from Operations	21,773		46,283
Net income	$	21,691	$	29,433
Diluted net income per share	$	0.27	$	0.37