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Warren Resources appoints Philip A.Epstein as Chairman and CEO

NEW YORK -- Warren Resources, Inc. announced that its Board of Directors has appointed Mr. Philip A. Epstein as Chief Executive Officer. He will also serve as Chairman of the Board of Directors.

Mr. Epstein, age 56, has over 20 years of experience as a senior executive in the global oil and gas industry. In 1992, Philip played an active role in the founding of Belco Oil & Gas Corp. ("Belco") and served in senior executive positions. Belco was a leading independent oil and gas company with operations initially focused on tight gas sand reservoirs in the Moxa Arch trend of Southwest Wyoming and horizontal drilling in the Austin Chalk trend of Texas. Belco grew in four years to $105 million of EBITDA and was taken public on the NYSE in a 1996 initial public offering valuing the company at $600 million. In 1997, Belco acquired Coda Energy, Inc., a Permian Basin and Mid-Continent oil producer specializing in secondary oil recovery operations, in a $324 million transaction. In 2001, Belco merged in a stock swap with Westport Resources Corporation.

Following Belco, Philip co-founded and currently serves as Managing Director of Calypso Energy LLC, a privately held international oil and gas company which manages oil and gas drilling funds focused on the Mid-Continent and Gulf Coast areas of the United States. In 2002, Philip also expanded into the renewable energy area co-founding Superior Renewable Energy LLC, a leading wind energy developer with projects in California, New Mexico, South Dakota and Texas. Superior was sold to Babcock & Brown in 2006 in an all-cash transaction.

From 1988 to 1992, Philip practiced corporate finance and M&A law at Fried Frank Harris Shriver & Jacobson. Philip holds a B.A. from the University of Chicago, an M.A. (Oxon) in Politics and Economics from Oxford University and a J.D. from Northwestern University Law School.

Philip serves as special advisor to the International Family AIDS Program and is a past Director of the Juvenile Diabetes Research Foundation (NY Chapter). In his career, Philip has been instrumental in raising and successfully deploying over $600 million in capital for both public and private companies.

 

12/05/2012

 

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