W&T Offshore Company News
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W&T Offshore to Divest Select Permian Interests
Tuesday, September 25, 2018 W&T Offshore shares an update on its JV drilling program and plans to sell Permian interests for $56.8 million.
W&T Offshore Strikes Black Gold at Mahogany Field
Friday, January 06, 2017 New WAZ seismic data leads W&T Offshore to drilling success at Mahogany.
US Jury Finds Apache Did Not Breach Contract With W&T Offshore
Monday, December 15, 2014 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.
W&T Ban From Bidding For Oil Could Last 3 Years, EPA Says
Tuesday, December 03, 2013 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.
Freepoint Commodities Invests in US Offshore Oil and Gas Production
Monday, August 19, 2013 Freepoint Commodities says that, together with two other partners, it bought two offshore producing blocks from an ExxonMobil affiliate and W&T Offshore.
W&T Strikes Black Gold in Subsalt GOM Discovery
Thursday, July 25, 2013 W&T Offshore hits pay in a subsalt well in Ship Shoal Block 349 in the Gulf of Mexico.
W&T Offshore to Boost 2013 Onshore, Offshore Production
Tuesday, February 12, 2013 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.
W&T Offshore Tags $450M for 2013 Capex
Tuesday, February 12, 2013 W&T Offshore, Inc. announced that its Board of Directors has approved a 2013 capital budget of $450 million.
Newfield Exploration Sells Remaining GOM Assets
Tuesday, September 18, 2012 Newfield Exploration Company announced signing an agreement to sell its remaining assets in the Gulf of Mexico to W&T Offshore, Inc.
W&T Offshore Boosts Borrowing Base
Tuesday, October 25, 2011 W&T Offshore has received an increase in the borrowing base.
W&T Offshore Seals Stake in Shell's Fairway Field, Yellowhammer Facility
Thursday, August 11, 2011 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.
W&T Offshore Prices Senior Notes
Monday, June 06, 2011 W&T Offshore has priced at par its private offering of $600 million aggregate principal amount of 8.5% senior notes.
W&T Offshore Launches Private Offering of Senior Notes
Thursday, May 26, 2011 W&T Offshore launched a private offering of $600 million aggregate principal amount of senior notes.
W&T Offshore to Add Acreage in West Tx. Permian Basin
Tuesday, April 26, 2011 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.
W&T Offshore Responds to Oil Sheen Reports in GOM
Tuesday, March 22, 2011 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.
W&T Offshore Reports 'Solid' Results for 2010
Wednesday, March 02, 2011 "We had another great quarter with solid production, high realized oil prices, good earnings and cash flow," commented Tracy W. Krohn.
W&T Offshore Appoints New Senior VP
Tuesday, January 18, 2011 W&T Offshore announced the appointment of Jesus G. Melendrez as Senior Vice President and Chief Commercial Officer.
W&T Offshore Loosens Purse Strings for 2011 Capex
Wednesday, January 05, 2011 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.
Life in The Fast Lane: How W&T Offshore Became a Billion Dollar Gulf Player
Monday, December 20, 2010 W&T Offshore founder and CEO Tracy Krohn credits patience and perseverance in moving W&T into the fast lane of success.
W&T Offshore to Purchase Stakes in 6 Shell GOM Fields
Thursday, November 04, 2010 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.
W&T Offshore Shines in 3Q10
Tuesday, November 02, 2010 "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.
W&T Offshore Increases Quarterly Dividend
Monday, August 02, 2010 W&T Offshore increased the regular cash quarterly dividend to $0.04 per share from $0.03 per share.
W&T Offshore Waves Goodbye to VP
Monday, July 05, 2010 W&T Offshore announced the resignation of W. Reid Lea from his current position.
W&T Offshore Increases Revenues in 1Q10
Tuesday, May 04, 2010 W&T Offshore provided financial and operational results for the first quarter 2010.
W&T Offshore Acquires GOM Blocks from Total
Monday, May 03, 2010 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.
Total Cashes in Virgo, Matterhorn Chips
Thursday, April 08, 2010 Total E&P USA has transferred its interests in three federal offshore lease blocks in the Gulf of Mexico to W&T Offshore.
W&T Offshore Bids High for Five OCS Blocks
Thursday, March 18, 2010 W&T Offshore was the apparent high bidder on five Outer Continental Shelf blocks offered in the Central Gulf of Mexico Lease Sale 213.
W&T Offshore Reviews 4Q, Full Year 2009 Results
Thursday, February 25, 2010 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.
W&T Offshore Positions Itself to Prosper in 2010
Thursday, January 07, 2010 W&T Offshore has provided an update on its 2009 drilling activities, 2009 production guidance as well as 2010 planned capital expenditures.
W&T Offshore Reports Third Quarter 2009 Results
Thursday, November 05, 2009 "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.
W&T Offshore Starts Up Daniel Boone in Deepwater GOM
Wednesday, October 28, 2009 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.
W&T Offshore Implements Hedge Positions for 2010
Thursday, September 17, 2009 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.
W&T Offshore Declares Quarterly Dividend on Common Stock
Tuesday, August 04, 2009 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.
Technip Snags Subsea Contract for Daniel Boone Field Devt in GOM
Tuesday, May 05, 2009 Technip has been awarded a contract by W&T Offshore for the Daniel Boone field development in the Gulf of Mexico.
W&T Offshore Names Board of Directors
Tuesday, May 05, 2009 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.
W&T Offshore Declares Quarterly Dividend on Common Stock
Tuesday, May 05, 2009 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.
W&T Offshore Reports on Q1 Financial, Operational Results
Tuesday, May 05, 2009 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."
W&T Offshore Wins 4 Outer Continental Shelf Blocks in GOM
Monday, March 23, 2009 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.
W&T Offshore Increases Revenues to $1.2B in 2008
Thursday, February 26, 2009 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.
W&T Offshore's Year-End Proved Reserves Dive 23%
Friday, February 06, 2009 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.
W&T Trims Drilling Activity in '09, Full-Year Capital Budget Unconfirmed
Tuesday, January 13, 2009 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.
W&T Offshore Boosts Earnings 14% Despite Production Drop After Storms
Tuesday, November 04, 2008 W&T Offshore has provided financial and operational results for the third quarter 2008.
W&T Offshore Declares Special Cash Dividend
Tuesday, November 04, 2008 W&T Offshore announced that its Board of Directors on November 3, 2008 declared a special cash dividend of $20.84 million.
W&T Offshore Reaffirms $500MM Revolving Credit Facility
Tuesday, October 28, 2008 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.
Rowan Reels in $30MM GOM Commitment for Gorilla IV Jackup
Thursday, October 02, 2008 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.
W&T Offshore Cites Production Platform Damage from Ike
Tuesday, September 30, 2008 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.
W&T Offshore Names Jaime Vazquez as President
Friday, September 26, 2008 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.
W&T Offshore Loses Two Platforms to Hurricane Ike
Friday, September 19, 2008 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
W&T Offshore Unveils Capital Budget for 2008, Plans to Drill 35 Wells
Tuesday, September 02, 2008 W&T Offshore announced that the Company's revised exploration and development capital budget for 2008 is expected to be approximately $611 million, based on drilling up to 35 wells for the year.
W&T Offshore Declares Cash Dividend of $0.03 Per Share
Wednesday, August 06, 2008 W&T Offshore declared a regular cash dividend of $0.03 per share, payable to the holders of the Corporation's common shares.