Warren Resources Inc. (NASDAQ:WRES) has appointed President and CEO James A. Watt as a director, effective Nov. 23. Watt will fill one of the current vacancies on the board of directors and will stand for re-election at the 2016 annual meeting of stockholders. In addition, Frank T. Smith Jr. has been appointed senior vice president and CFO of the company, effective Nov. 25.
Brian Gelman, who has served as interim CFO since Nov. 6, has stepped down from this role and will continue as chief accounting officer and controller.
Smith has over 40 years of experience in the global oil and gas industry. He has served as senior vice president and CFO of Dune Energy Inc. since 2007 and as secretary since January 2012. Prior to his appointment at Dune Energy, he served as president and CFO of Sonoran Energy Inc. From 2004 through 2006, Smith served as senior vice president of finance and as corporate secretary of Remington Oil and Gas Corp., which was acquired by Helix Energy Solutions Group Inc. in June 2006. From June 1997 through 2003, Smith served as executive vice president and manager of energy lending at the Bank of Texas. From 1990 through 1997, he served as director in the energy and utilities division of the First National Bank of Boston. Prior to 1990, Smith held positions of increasing responsibility in the energy banking departments of other major, publicly traded US financial institutions. Smith received a Master of Business Administration degree in corporate finance and banking from the University of Pennsylvania (Wharton School). He also holds bachelor’s and master’s degrees from the University of Delaware.
Warren Resources is an independent energy company engaged in the acquisition, exploration, development, and production of domestic oil and natural gas reserves. Warren’s activities are primarily focused on oil in the Wilmington field in the Los Angeles Basin in California, natural gas in the Marcellus shale play in Pennsylvania, and the Washakie Basin of Wyoming.