Warren Resources Inc. (NasdaqGS: WRES) detailed its 2014 capex budget on March 6. A total of about $116 million will be split between California and Wyoming operations, the company added.
The budget could be adjusted based on commodity prices, regulatory and environmental approvals, working interest agreements, drilling and service costs, production variance, drilling timing, business venture formations and acquisitions, the company noted.
The capex budget will be funded through operations cash flow and credit facility borrowings, Warren Resources said.
Of the $116 million total, $77 million will go to California's ...