Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 17,773	$ 26,764
Accounts Receivable, net of allowance for doubtful accounts of $701 at March 31, 2016 and $16 at December 31, 2015	8,494	9,880
Restricted investment in U.S. Treasury Bonds - available for sale, at fair value (amortized costs of $1,156 at March 31, 2016 and $1,138 at December 31, 2015)	1,523	1,448
Derivative financial instruments	9,402	11,081
Other current assets	4,195	5,439
Total current assets	41,387	54,612
Other Assets
Oil and gas properties - at cost, based on full cost method of accounting, net of accumulated depreciation, depletion and impairment (includes unproved properties excluded from amortization of $- at March 31, 2016 and $14,658 at December 31, 2015)	97,294	162,685
Property and equipment - at cost, net	1,440	1,548
Other assets	3,012	3,107
Total other assets	101,746	167,340
Total assets	143,133	221,952
Current liabilities
Accounts payable and accrued expenses	37,371	43,124
First lien credit facility, net of debt issuance costs of $4,698 at March 31, 2016 and $4,980 at December 31, 2015	229,967	229,685
Second lien credit facility, net of debt issuance costs of $1,850 at March 31, 2016 and $1,952 at December 31, 2015	73,435	72,960
Senior notes, net of debt issuance costs of $4,356 at March 31, 2016 and $5,482 at December 31, 2015	161,082	159,885
Convertible debentures, net of debt issuance costs of $92 at March 31, 2016 and $96 at December 31, 2015	1,520	1,540
Total current liabilities	503,375	507,194
Long-term liabilities
Other long-term liabilities	39,364	38,322
Total liabilities	542,739	545,516
Commitment and Contingencies
Stockholders' Equity (Deficit)
8% convertible preferred stock, par value $.0001; authorized 10,000,000 shares, issued and outstanding, 10,703 shares in 2016 and 2015, respectively (aggregate liquidation preference $128,437 in 2016 and 2015)	128	128
Common stock, $.0001 par value, authorized 100,000,000 shares, issued 85,250,025 shares in 2016 and 85,203,466 shares in 2015	9	9
Additional paid-in capital	516,883	516,715
Accumulated deficit	(916,872)	(840,606)
Accumulated other comprehensive income, net of applicable income taxes	246	190
Total stockholders' equity (deficit)	(399,606)	(323,564)
Total liabilities and stockholders' equity	143,133	221,952
Senior Notes [Member]
Current liabilities
Senior notes, net of debt issuance costs of $4,356 at March 31, 2016 and $5,482 at December 31, 2015	161,082	159,885
Convertible Debentures [Member]
Current liabilities
Convertible debentures, net of debt issuance costs of $92 at March 31, 2016 and $96 at December 31, 2015	$ 1,520	$ 1,540

WARREN RESOURCES INC 10-Q