W&T Offshore Company News

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W&T Offshore Awards GOM Drilling Contract
W&T Offshore has contracted a heavy-duty jack-up rig for a USA Gulf of Mexico (GOM) campaign.
8:00 PM EST | May 19, 2021
W&T Offshore Inks Deal with Exxon for GOM Assets
W&T Offshore will acquire producing assets in the Gulf of Mexico from ExxonMobil for $200 million.
8:00 PM EST | June 26, 2019
W&T Offshore to Divest Select Permian Interests
W&T Offshore shares an update on its JV drilling program and plans to sell Permian interests for $56.8 million.
8:00 PM EST | September 24, 2018
W&T Offshore Strikes Black Gold at Mahogany Field
New WAZ seismic data leads W&T Offshore to drilling success at Mahogany.
7:00 PM EST | January 05, 2017
US Jury Finds Apache Did Not Breach Contract With W&T Offshore
Apache was not in breach of contract in a lawsuit brought by W&T Offshore Inc in 2011, a federal jury found, according to a court filing.
7:00 PM EST | December 14, 2014
W&T Ban From Bidding For Oil Could Last 3 Years, EPA Says
W&T Offshore's ban from bidding on federal government contracts in the Gulf of Mexico can last up to three years, the US Environmental Protection Agency says.
7:00 PM EST | December 02, 2013
Freepoint Commodities Invests in US Offshore Oil and Gas Production
Freepoint Commodities says that, together with two other partners, it bought two offshore producing blocks from an ExxonMobil affiliate and W&T Offshore.
8:00 PM EST | August 18, 2013
W&T Strikes Black Gold in Subsalt GOM Discovery
W&T Offshore hits pay in a subsalt well in Ship Shoal Block 349 in the Gulf of Mexico.
8:00 PM EST | July 24, 2013
W&T Offshore to Boost 2013 Onshore, Offshore Production
W&T Offshore announces production guidance for the first quarter of 2013 in a range of 4.3 MMboe to 4.8 MMboe and for the full year of 2013 in a range of 17.0 MMboe to 18.7 MMboe.
7:00 PM EST | February 11, 2013
W&T Offshore Tags $450M for 2013 Capex
W&T Offshore, Inc. announced that its Board of Directors has approved a 2013 capital budget of $450 million.
7:00 PM EST | February 11, 2013
Newfield Exploration Sells Remaining GOM Assets
Newfield Exploration Company announced signing an agreement to sell its remaining assets in the Gulf of Mexico to W&T Offshore, Inc.
8:00 PM EST | September 17, 2012
W&T Offshore Boosts Borrowing Base
W&T Offshore has received an increase in the borrowing base.
8:00 PM EST | October 24, 2011
W&T Offshore Seals Stake in Shell's Fairway Field, Yellowhammer Facility
W&T Offshore has closed its acquisition of Shell Offshore's 64.3% interest in the Fairway Field along with a 64.3% interest in the associated Yellowhammer gas processing plant.
8:00 PM EST | August 10, 2011
W&T Offshore Prices Senior Notes
W&T Offshore has priced at par its private offering of $600 million aggregate principal amount of 8.5% senior notes.
8:00 PM EST | June 05, 2011
W&T Offshore Launches Private Offering of Senior Notes
W&T Offshore launched a private offering of $600 million aggregate principal amount of senior notes.
8:00 PM EST | May 25, 2011
W&T Offshore to Add Acreage in West Tx. Permian Basin
W&T Offshore has entered into a purchase and sale agreement with private sellers to acquire approx. 21,900 gross leasehold acres in the West Texas Permian Basin.
8:00 PM EST | April 25, 2011
W&T Offshore Responds to Oil Sheen Reports in GOM
W&T Offshore announced that it responded to reports of an oil sheen in the GOM that was said to be near a W&T operated platform Matterhorn.
8:00 PM EST | March 21, 2011
W&T Offshore Reports 'Solid' Results for 2010
"We had another great quarter with solid production, high realized oil prices, good earnings and cash flow," commented Tracy W. Krohn.
7:00 PM EST | March 01, 2011
W&T Offshore Appoints New Senior VP
W&T Offshore announced the appointment of Jesus G. Melendrez as Senior Vice President and Chief Commercial Officer.
7:00 PM EST | January 17, 2011
W&T Offshore Loosens Purse Strings for 2011 Capex
W&T Offshore has approved the Company's 2011 Capital Budget of $310 million, excluding the pending acquisition of the Gulf of Mexico producing shelf property under letter of intent with Shell Offshore Inc. and other potential acquisitions.
7:00 PM EST | January 04, 2011
Life in The Fast Lane: How W&T Offshore Became a Billion Dollar Gulf Player
W&T Offshore founder and CEO Tracy Krohn credits patience and perseverance in moving W&T into the fast lane of success.
7:00 PM EST | December 19, 2010
W&T Offshore to Purchase Stakes in 6 Shell GOM Fields
W&T Offshore will acquire interests in six offshore producing fields located in the Gulf of Mexico from Shell Offshore with an effective date of September 1, 2010.
8:00 PM EST | November 03, 2010
W&T Offshore Shines in 3Q10
"We had another very good quarter with higher oil production, higher average realized sales prices and much lower lease operating expenses as compared to the last quarter," said Tracy W. Krohn.
8:00 PM EST | November 01, 2010
W&T Offshore Increases Quarterly Dividend
W&T Offshore increased the regular cash quarterly dividend to $0.04 per share from $0.03 per share.
8:00 PM EST | August 01, 2010
W&T Offshore Waves Goodbye to VP
W&T Offshore announced the resignation of W. Reid Lea from his current position.
8:00 PM EST | July 04, 2010
W&T Offshore Increases Revenues in 1Q10
W&T Offshore provided financial and operational results for the first quarter 2010.
8:00 PM EST | May 03, 2010
W&T Offshore Acquires GOM Blocks from Total
W&T Offshore has completed the acquisition (through its wholly owned subsidiary, W&T Energy VI, LLC) of all of the interests of Total in three federal offshore lease blocks located in the Gulf of Mexico for a purchase price of $150 million.
8:00 PM EST | May 02, 2010
Total Cashes in Virgo, Matterhorn Chips
Total E&P USA has transferred its interests in three federal offshore lease blocks in the Gulf of Mexico to W&T Offshore.
8:00 PM EST | April 07, 2010
W&T Offshore Bids High for Five OCS Blocks
W&T Offshore was the apparent high bidder on five Outer Continental Shelf blocks offered in the Central Gulf of Mexico Lease Sale 213.
8:00 PM EST | March 17, 2010
W&T Offshore Reviews 4Q, Full Year 2009 Results
W&T Offshore enters 2010 as a "leaner, more efficient" company with a Capital Budget of $450 million, which represents a 63% increase over the company's capital expenditures in 2009.
7:00 PM EST | February 24, 2010
W&T Offshore Positions Itself to Prosper in 2010
W&T Offshore has provided an update on its 2009 drilling activities, 2009 production guidance as well as 2010 planned capital expenditures.
7:00 PM EST | January 06, 2010
W&T Offshore Reports Third Quarter 2009 Results
"As our production volumes have grown with increasing percentages of oil and natural gas liquids, we have seen our cash flows from operations rise," W&T Offshore's CEO Tracy W. Krohn.
7:00 PM EST | November 04, 2009
W&T Offshore Starts Up Daniel Boone in Deepwater GOM
W&T Offshore has started up production from its Daniel Boone discovery well, a deepwater development in the Gulf of Mexico within Green Canyon Block 646.
8:00 PM EST | October 27, 2009
W&T Offshore Implements Hedge Positions for 2010
W&T Offshore has established a group of commodity hedge positions as part of a risk management program to enhance its 2010 Capital Expenditure Budget.
8:00 PM EST | September 16, 2009
W&T Offshore Declares Quarterly Dividend on Common Stock
W&T Offshore announced that its Board of Directors on August 3, 2009 declared a regular cash quarterly dividend of $0.03 per share, payable to the holders of the Corporation's common shares.
8:00 PM EST | August 03, 2009
Technip Snags Subsea Contract for Daniel Boone Field Devt in GOM
Technip has been awarded a contract by W&T Offshore for the Daniel Boone field development in the Gulf of Mexico.
8:00 PM EST | May 04, 2009
W&T Offshore Names Board of Directors
W&T Offshore re-elected Tracy W. Krohn, J. F. Freel, Virginia Boulet, S. James Nelson, Jr. Robert I. Israel and Samir G. Gibara to serve on the Board of Directors for one-year terms.
8:00 PM EST | May 04, 2009
W&T Offshore Declares Quarterly Dividend on Common Stock
W&T Offshore announced that its Board of Directors on May 4, 2009 declared a regular cash quarterly dividend of $0.03 per share, payable to the holders of the Corporation's common shares.
8:00 PM EST | May 04, 2009
W&T Offshore Reports on Q1 Financial, Operational Results
W&T Offshore's Chairman and CEO, Tracy W. Krohn, commented, "We have had success with our drilling program so far in 2009 and will change our focus in the second half of the year to build cash for new strategic opportunities."
8:00 PM EST | May 04, 2009
W&T Offshore Wins 4 Outer Continental Shelf Blocks in GOM
W&T Offshore was the apparent high bidder on four Outer Continental Shelf blocks in the Central Gulf of Mexico Lease Sale 208 held on March 18, 2009.
8:00 PM EST | March 22, 2009
W&T Offshore Increases Revenues to $1.2B in 2008
In 2008, W&T Offshore's revenues increased to a record $1.2 billion and EBITDA and Adjusted EBITDA increased to a record $897.4 million and $883.9 million, respectively.
7:00 PM EST | February 25, 2009
W&T Offshore's Year-End Proved Reserves Dive 23%
W&T Offshore's estimated total proved oil and natural gas reserves at December 31, 2008 consisted of 43.9 million barrels of oil and natural gas liquids and 227.9 billion cubic feet of natural gas for a total of 491.1 Bcf equivalent of natural gas.
7:00 PM EST | February 05, 2009
W&T Trims Drilling Activity in '09, Full-Year Capital Budget Unconfirmed
W&T has provided an update on its 2008 drilling activities and 2009 capital expenditures, as well as production, reserves and ceiling test impairment guidance.
7:00 PM EST | January 12, 2009
W&T Offshore Boosts Earnings 14% Despite Production Drop After Storms
W&T Offshore has provided financial and operational results for the third quarter 2008.
7:00 PM EST | November 03, 2008
W&T Offshore Declares Special Cash Dividend
W&T Offshore announced that its Board of Directors on November 3, 2008 declared a special cash dividend of $20.84 million.
7:00 PM EST | November 03, 2008
W&T Offshore Reaffirms $500MM Revolving Credit Facility
W&T Offshore announced that its bank group has reaffirmed the borrowing base under its revolving credit facility that matures July 23, 2012 and that the undrawn $500 million revolving credit facility remains available for borrowing.
8:00 PM EST | October 27, 2008
Rowan Reels in $30MM GOM Commitment for Gorilla IV Jackup
Rowan received a letter of intent from W&T Offshore for the jackup Gorilla IV. The commitment is for two wells after the rig is released from its current drilling assignment.
8:00 PM EST | October 01, 2008
W&T Offshore Cites Production Platform Damage from Ike
W&T Offshore announced its update on the impact of Hurricanes Gustav and Ike on its operations in the Gulf of Mexico. The Company reported that two operated and nine non-operated platforms sank.
8:00 PM EST | September 29, 2008
W&T Offshore Names Jaime Vazquez as President
W&T Offshore announced the appointment of Jamie L. Vazquez as President of the Company. Tracy W. Krohn previously held the position and he continues to serve as Chairman and Chief Executive Officer of the Company.
8:00 PM EST | September 25, 2008
W&T Offshore Loses Two Platforms to Hurricane Ike
W&T Offshore says that initial flyovers after Hurricane Ike have indicated that its Eugene Island 371 "B" platform and Eugene Island 397 "A" platform and the third party owned processing facility for its Ewing Banks 949 "Queen of Hearts" sank
8:00 PM EST | September 18, 2008