Warren Resources Inc., an exploration and production company with operations in California and Pennsylvania, filed for bankruptcy protection yesterday, Reuters reported. The filing comes as a severe downturn in oil prices has forced scores of energy producers to file bankruptcy since the start of 2015. Up to a third of all producers may be at risk of bankruptcy if commodity prices remain weak, according to a study by consulting firm Deloitte. Warren Resources skipped a $7.5 million interest payment due Feb. 1 on its senior notes and the company defaulted 30 days later. The company listed assets of $230 million and debts of $545 million, as of Jan. 31, according to court documents. Read more.
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