W&T Offshore, Inc., an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters. The company also owns interest in approximately 146 offshore structures. It has interests in offshore leases covering approximately 506,000 net acres spanning across the Outer Continental Shelf off the coasts of Louisiana, Texas, Mississippi, and Alabama. As of December 31, 2020, its total proved reserves were 144.4 million barrels of oil equivalent. The company was founded in 1983 and is headquartered in Houston, Texas.
IPO Year: 2005
Exchange: NYSE
Website: wtoffshore.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/25/2022 | $9.10 | Buy | Stifel |
| 10/20/2021 | $5.09 → $6.90 | Hold → Buy | Stifel |
| 7/26/2021 | $4.50 → $5.50 | Buy | Roth Capital |
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Stifel resumed coverage of W&T Offshore with a rating of Buy and set a new price target of $9.10
Stifel upgraded W&T Offshore from Hold to Buy and set a new price target of $6.90 from $5.10 previously
Roth Capital reiterated coverage of W&T Offshore with a rating of Buy and set a new price target of $5.50 from $4.50 previously
HOUSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T," the "Company" or "us") today reported operational and financial results for the third quarter of 2024 and declared a fourth quarter 2024 dividend of $0.01 per share. This press release includes non-GAAP financial measures, including Adjusted Net (Loss) Income, Adjusted EBITDA, Free Cash Flow and Net Debt, which are described and reconciled to the most comparable GAAP financial measures below in the accompanying tables under "Non-GAAP Information." Key highlights for the third quarter of 2024 and through the date of this press release include: Produced 31.0 thousand barrels of oil equivalent per day ("
HOUSTON, Oct. 30, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) (the "Company") today announced the timing of its third quarter 2024 earnings release and conference call. The Company said it will issue its third quarter 2024 earnings release on Thursday, November 7, 2024, after the close of trading on the NYSE and host a conference call to discuss financial and operational results on Friday morning, November 8, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time.) Interested parties may participate by dialing (844) 739-3797. International parties may dial (412) 317-5713. Participants should request to be joined to the "W&T Offshore, Inc. Conference Call." This call will als
HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today reported operational and financial results for the second quarter of 2024 and declared a third quarter 2024 dividend of $0.01 per share. This press release includes non-GAAP financial measures, including Adjusted Net Loss, Adjusted EBITDA, Free Cash Flow, Net Debt and PV-10, which are described and reconciled to the most comparable GAAP financial measures below in the accompanying tables under "Non-GAAP Information." Key highlights for the second quarter of 2024 and through the date of this press release include: Produced 34.9 thousand barrels of oil equivalent per day ("MBoe/d"
HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) (the "Company") today announced the timing of its second quarter 2024 earnings release and conference call. The Company said it will issue its second quarter 2024 earnings release on Tuesday, August 6, 2024, after the close of trading on the NYSE and host a conference call to discuss financial and operational results on Wednesday morning, August 7, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time.) Interested parties may participate by dialing (844) 739-3797. International parties may dial (412) 317-5713. Participants should request to be joined to the "W&T Offshore, Inc. Conference Call." This call will als
HOUSTON, May 10, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today reported operational and financial results for the first quarter of 2024 and declared second quarter 2024 dividend of $0.01 per share. This press release includes non-GAAP financial measures, including Adjusted Net (Loss) Income, Adjusted EBITDA, Free Cash Flow and Net Debt, which are described and reconciled to the most comparable GAAP measures below in the accompanying tables under "Non-GAAP Information." Key highlights for the first quarter of 2024 and through the date of this press release include: Completed accretive acquisition of six shallow water Gulf of Mexico ("GOM") fields i
HOUSTON, March 05, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today reported operational and financial results for the fourth quarter and full year 2023, including the Company's year-end 2023 reserve report. Detailed guidance for the first quarter of 2024 and full year 2024 was also provided, and W&T announced its dividend for the first quarter of 2024. This press release includes non-GAAP financial measures, including Adjusted Net (Loss) Income, Adjusted EBITDA, Free Cash Flow, Net Debt and PV-10 which are described and reconciled to the most comparable GAAP measures below in the accompanying tables under "Non-GAAP Information." Key highlights for the
HOUSTON, Feb. 15, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. ("W&T" or the "Company") (NYSE:WTI) today announced the timing of its fourth quarter and full year 2023 earnings release and conference call. The Company also said it has posted the recording of a recent interview with its Chairman and Chief Executive Officer on its website. W&T said it will issue its fourth quarter and full year 2023 earnings release on Tuesday, March 5, 2024, after the close of trading on the NYSE and host a conference call to discuss financial and operational results on Wednesday morning, March 6, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time.) Interested parties may participate by dialing (8
HOUSTON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced that its Board of Directors has approved the implementation of a quarterly cash dividend payable to holders of its common stock. The initial cash dividend of $0.01 per share of common stock will be payable on December 22, 2023, to shareholders of record at the close of business on November 28, 2023. Tracy W. Krohn, W&T's Board Chair and Chief Executive Officer, commented, "We have maintained our commitment to a highly successful strategy sharply focused on free cash flow generation for many years now. As a result of our strong asset base and operational execution, our balance
HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today reported operational and financial results for the third quarter of 2023. This press release includes non-GAAP financial measures, including Adjusted Net Income (Loss), Adjusted EBITDA, Free Cash Flow and Net Debt which are described and reconciled to the most comparable GAAP measures below in the accompanying tables under "Non-GAAP Information." Key highlights for the third quarter of 2023 include: Maintained strong production of 35.9 thousand barrels of oil equivalent per day ("MBoe/d") (48% liquids), or 3.3 million barrels of oil equivalent ("MMBoe"); Production was above the midpoi
HOUSTON, Oct. 24, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) today announced the timing of its third quarter 2023 earnings release and conference call. The Company said it will issue its third quarter 2023 earnings release on Tuesday, November 7, 2023, after the close of trading on the NYSE and host a conference call to discuss financial and operational results on Wednesday morning, November 8, 2023, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time.) Interested parties may participate by dialing (844) 739-3797. International parties may dial (412) 317-5713. Participants should request to be joined to the "W&T Offshore, Inc. Conference Call." This call will also be webca
HOUSTON, Jan. 14, 2025 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T Offshore" or the "Company") today announced the pricing of its previously announced offering of $350 million in aggregate principal amount of 10.750% senior second lien notes due 2029 (the "Notes") at par in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The closing of the offering of the Notes is expected to occur on January 28, 2025, subject to customary closing conditions. The Company intends to use the net proceeds of the offering, along with cash on hand, to (i) purchase for cash pursuant to a tender offer, the Company's outstanding
HOUSTON, Jan. 13, 2025 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") announced today that it has commenced a cash tender offer (the "Tender Offer") for any and all of the outstanding $275 million aggregate principal amount of its 11.750% Senior Second Lien Notes due 2026 (the "2026 Senior Second Lien Notes"), subject to certain conditions, including the issuance and sale of $350 million in aggregate principal amount of senior second lien notes due 2029 (the "Notes"). In conjunction with the Tender Offer, the Company is also soliciting consents (the "Consent Solicitation") from the holders of the 2026 Senior Second Lien Notes for the adoption of proposed amendm
HOUSTON, Jan. 13, 2025 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T Offshore" or the "Company") today announced its intention to offer, subject to market and other conditions, $350 million in aggregate principal amount of senior second lien notes due 2029 (the "Notes") in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Company intends to use the net proceeds of the offering, along with cash on hand, to (i) purchase for cash pursuant to a tender offer, WTI's outstanding 11.750% Senior Second Lien Notes due 2026 (the "2026 Senior Second Lien Notes") that are properly tendered pursuant to the terms ther
HOUSTON, Jan. 08, 2025 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today provided operational and financial updates on recent developments. Recently signed a purchase and sale agreement ("PSA") to sell a non-core interest in Garden Banks Blocks 385 and 386 which included latest net production of approximately 195 barrels of oil equivalent per day ("Boe/d") (72% oil) for $12.3 million;Announces that the West Delta 73 field, which W&T acquired in January 2024, is expected to come back online by mid-second quarter 2025;Announces that the Main Pass 108 and 98 fields, which have been shut in since June 2024, are expected to return to production by early second qu
Amended lawsuit alleges price-fixing, collusion, antitrust violations An independent Texas oil and gas producer is striking back against a group of insurance companies, which collectively are seeking $250 million in collateral beyond what the oil company has already contracted for bonds backing its production activities. The energy company, Houston-based W&T Offshore, Inc. (NYSE:WTI), is asking a federal judge to declare insurers have colluded to damage the company by jointly demanding additional collateral and premiums. At the heart of the dispute are rules from the federal Bureau of Ocean Energy Management – BOEM – which require energy producers in the Outer Continental Shelf to pro
HOUSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T," the "Company" or "us") today reported operational and financial results for the third quarter of 2024 and declared a fourth quarter 2024 dividend of $0.01 per share. This press release includes non-GAAP financial measures, including Adjusted Net (Loss) Income, Adjusted EBITDA, Free Cash Flow and Net Debt, which are described and reconciled to the most comparable GAAP financial measures below in the accompanying tables under "Non-GAAP Information." Key highlights for the third quarter of 2024 and through the date of this press release include: Produced 31.0 thousand barrels of oil equivalent per day ("
HOUSTON, Oct. 30, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) (the "Company") today announced the timing of its third quarter 2024 earnings release and conference call. The Company said it will issue its third quarter 2024 earnings release on Thursday, November 7, 2024, after the close of trading on the NYSE and host a conference call to discuss financial and operational results on Friday morning, November 8, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time.) Interested parties may participate by dialing (844) 739-3797. International parties may dial (412) 317-5713. Participants should request to be joined to the "W&T Offshore, Inc. Conference Call." This call will als
HOUSTON, Sept. 19, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) (the "Company" or "W&T") today announced that the Company has issued its 2023 Corporate Environmental, Social, and Governance ("ESG") report, which is now available on W&T's website, www.wtoffshore.com, under the "Corporate Responsibility" tab. Tracy W. Krohn, Chairman and CEO, commented, "We continue to demonstrate our commitment to a high quality, comprehensive ESG effort by issuing our 2023 ESG report. This is our fourth sustainability report and we continue to make strides regarding shareholder rights, board structure and oversight, human rights, labor, health and safety and environmental initiatives. We are c
HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced the appointment of George J. Hittner as Executive Vice President, General Counsel and Corporate Secretary, effective September 1, 2024. Mr. Hittner brings a unique and extensive combination of legal, corporate and legislative experience in both the public and private sectors. Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are excited to have George join our executive team at W&T. His twenty-plus years serving as an attorney in law firms, as general counsel, and in government will help continue to propel W&T's strategic goals." Before founding his ow
HOUSTON, Aug. 14, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (the "Company") (NYSE:WTI) today announced its participation in the EnerCom Denver Conference to be held in Denver, Colorado where Tracy Krohn, Chairman and Chief Executive Officer is scheduled to make a presentation on Monday, August 19th, 2024 at 4:00 pm Mountain Time (5:00 pm Central Time). Senior management will also host one-on-one meetings with investors. The presentation will be webcast live and archived on W&T's website, www.wtoffshore.com, in the "Investors" section under "News and Events." An updated investor slide deck will be posted the day of the event in the "Investors" section of W&T's website under "Presentati
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HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced the appointment of George J. Hittner as Executive Vice President, General Counsel and Corporate Secretary, effective September 1, 2024. Mr. Hittner brings a unique and extensive combination of legal, corporate and legislative experience in both the public and private sectors. Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are excited to have George join our executive team at W&T. His twenty-plus years serving as an attorney in law firms, as general counsel, and in government will help continue to propel W&T's strategic goals." Before founding his ow
HOUSTON, Oct. 10, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) (the "Company" or "W&T") today announced the appointment of John Poole to the position of Vice President Health, Safety, Environmental and Regulatory ("HSE&R"). Mr. Poole will assist in W&T continuously building upon its stellar safety and environmental record by applying decades of HSE&R experience in the Gulf of Mexico. He will report to William Williford, W&T's Executive Vice President and Chief Operating Officer. Tracy W. Krohn, Chairman and CEO, commented, "We are very pleased to be adding John as our Vice President of HSE&R, where he will become an important member of our senior leadership team. W&T has a foun
HOUSTON, June 22, 2023 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced the appointment of Sameer Parasnis to the position of Executive Vice President and Chief Financial Officer, effective July 3, 2023. Mr. Parasnis will report to Tracy Krohn, W&T's Chairman and CEO. Mr. Parasnis has 25 years of financial and operational experience, of which 20 have been in banking. He has advised companies in the Oil & Gas and Energy Transition industry on equity capital markets, debt capital markets and strategic M&A. Prior to joining W&T, Mr. Parasnis served as Managing Director of Stifel Financial Corporation's Energy & Energy Transition team in Houston. He
HOUSTON, June 15, 2022 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced the appointment of Jonathan Curth to Executive Vice President, General Counsel and Corporate Secretary, effective June 14, 2022. Mr. Curth has extensive legal experience working with public exploration and production ("E&P") companies. Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We are excited to have Jonathan join our great executive team at W&T. His many years serving as both an attorney with international law firms and as general counsel at public E&P companies, and, in particular, his involvement with acquisitions, capital markets and corporate transa
HOUSTON, May 10, 2022 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE:WTI) ("W&T" or the "Company") today announced that Stephen L. Schroeder, Senior Vice President and Chief Technical Officer, is retiring effective June 1, 2022. Mr. Schroeder joined W&T in 1998 as a Staff Reservoir Engineer and has since served in a variety of management roles including Production Manager, Vice President of Production, and Senior Vice President and Chief Operating Officer, until assuming his current role in 2012. Prior to W&T, Mr. Schroeder was with Exxon USA for 12 years. Huan Gamblin, who currently serves as Manager of Acquisition and Divestiture, is being promoted to Vice President of Business Developmen