W&T Offshore Prices Initial Public Offering

W&T Offshore, Inc. (NYSE: WTI) announced that its Initial Public Offering of 12.65 million shares priced at $19.00 per share and begins trading under the ticker symbol WTI on the New York Stock Exchange. All shares in the offering were sold by shareholders. In addition, the selling shareholders, including members of management and Jefferies & Company, Inc., have granted the underwriters a 30- day option to purchase up to an additional 1.90 million shares of common stock held by them to cover over-allotments.

The offering was made through an underwriting syndicate led by Lehman Brothers Inc. and Jefferies & Company, Inc. who acted as joint book-running managers. J.P. Morgan Securities, Inc., Raymond James & Associates, Inc., RBC Capital Markets Corporation and Harris Nesbit Corp. acted as co-managers.

This press release is not an offer to sell, nor the solicitation of any offer to buy, any securities. Any offer will be made by means of the prospectus. A copy of the final prospectus relating to the offering may be obtained by contacting the prospectus department of Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York 11717.