X0306 4 2014-12-10 0 0000892986 WARREN RESOURCES INC WRES 0001616106 Peterson Lance A 1114 AVENUE OF THE AMERICAS 34TH FLOOR NEW YORK NY 10036 1 1 0 0 Interim Chief Executive Office Common Stock 2014-12-10 4 P 0 160000 1.4608 A 3493334 D The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.36 to $1.52, inclusive. The reporting person undertakes to provide to Warren Resources, Inc., any security holder of Warren Resources, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4. Includes 3,333,334 shares in which Mr. Peterson held a pecuniary interest that were previously owned directly by Citrus Energy Corporation ("Citrus"). On December 4, 2014, Citrus transferred these shares to Mr. Peterson pursuant to an in-kind dividend of all of the shares of Warren Resources, Inc. The remaining 3,333,333 shares previously reported to have been held by Citrus were transferred to the other stockholder of Citrus in connection with such in-kind dividend /s/ Lance A. Peterson 2014-12-12