W&T Offshore, Inc.
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- W&T Offshore, Inc. W&T Offshore, Inc. is an independent oil and natural gas company engaged in the acquisition, exploration, development, and production of oil and natural gas properties primarily in the Gulf of Mexico, the second-largest producing basin in the U.S.; it sells crude oil, condensate, natural gas, and natural gas liquids from its working interests in over 53 offshore producing fields in federal and state waters, including 44 fields in federal waters and nine in state waters, with under lease approximately 597,100 gross acres (440,000 net acres) spanning the outer continental shelf off the coasts of Louisiana, Texas, Mississippi, and Alabama, encompassing approximately 435,600 gross acres on the conventional shelf, 153,500 gross acres in the deepwater, and 8,000 gross acres in Alabama onshore; the company operates a majority of its daily production from these assets, focusing on stacked pay development opportunities, attractive primary production, re-completion projects, workovers, and maintenance in both shelf and deepwater environments; founded in 1983 by Tracy W. Krohn and headquartered in Houston, Texas, W&T Offshore, Inc. trades on the New York Stock Exchange under the ticker WTI since its 2005 initial public offering and maintains wholly owned subsidiaries including Aquasition Energy, LLC, Aquasition, LLC, Aquasition II, LLC, Aquasition III, LLC, Aquasition IV, LLC, Aquasition V, LLC, Green Hell, LLC, Seaquester, LLC, Seaquestration, LLC, and W&T Energy VI, LLC. In recent developments, the company completed an accretive acquisition in January 2024 of six shallow-water fields from entities including Cox Oil Offshore, L.L.C. and Energy XXI GOM, LLC, adding approximately 22 million barrels of oil equivalent in proved reserves for around $104 million combined with a prior fall 2023 purchase, with production ranging from 3,700 to 5,700 BOEPD (68% liquids) and plans for capital-efficient workovers and recompletions to boost output while capturing synergies from proximity to existing operations; in January 2025, it signed a purchase and sale agreement to divest non-core interests in Garden Banks Blocks 385 and 386, producing about 195 BOEPD (72% oil), for $12.3 million effective December 1, 2024, at over $60,000 per flowing barrel; it anticipates West Delta 73 field (acquired January 2024) restarting mid-second quarter 2025, Main Pass 108 and 98 fields (shut-in June 2024) returning early second quarter 2025 after acquiring midstream infrastructure, and receipt of a $58.5 million insurance settlement in January 2025 for the 2023 Mobile Bay 78-1 well casualty loss; third quarter 2025 revenues rose 5% year-over-year to higher than $121.4 million driven by increased production, with adjusted EBITDA up 11% quarter-over-quarter to $39 million, underscoring its strategy of free cash flow generation, margin maximization, and accretive Gulf of Mexico asset transactions unaffected by the January 2025 presidential ban on new offshore drilling in certain U.S. areas.
Company News
Natural Gas and Oil Forecast: Tanker Attacks Rattle Gulf, Can WTI Break $98.31?
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Soars 4% As Traders Prepare For Escalation In The Middle East
Oil Markets Watch Inventory Access as WTI Holds $95 and Brent Eyes $110
Natural Gas and Oil Forecast: 8.6M Barrel Draw, Hormuz Risk, Can WTI Break $98.23?
WTI Price Forecast: Crude Oil Targets $100 as Bullish Momentum Builds
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Gains 3% As Rally Continues
Natural Gas and Oil Forecast: WTI Eyes $95.19, Can Brent Hold $104 and NG Break $3.34?
Oil Price Forecast: WTI and Brent Ease as US Weighs Tanker Sanctions Relief
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Tests Weekly Highs
Natural Gas and Oil Forecast: WTI Eyes $96.57, Can Brent Break $107 and NG Reach $3.46?
WTI Crude Oil Price Forecast: Reversal Signals Point to Further Gains
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Gains Ground As Trump Says Houthis Are Trying To Boost Oil Prices
Natural Gas and Oil Forecast: WTI Eyes $94.34, Can Brent Break $107 and NG Reach $3.35?
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Houthis Attack Saudi Airports
Natural Gas and Oil Forecast: WTI Tests $91.40, Can Brent Break $106 and NG Reach $3.35?
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Stay Bullish
Natural Gas and Oil Forecast: WTI Eyes $91.40, Can Brent Break $103.89?
WTI Crude Oil Price Forecast: Bullish Breakout Targets New Highs
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rallies As Trump Says U.S. Would Not Attack Iran Before Midterm Elections
Natural Gas and Oil Forecast: WTI Tests $90.62, Can NG Extend Above $3.35?