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 and to support an increase in its borrowing base under its revolving credit facility in connection with the semi-annual redetermination in October 2009. The Company has hedged 10.2 Bcf of its 2010 natural gas production and 1.1 MMBbls of its 2010 oil production.
Tracy W. Krohn, Chairman and Chief Executive Officer, commented, "We have entered into various oil and natural gas hedges to provide us with additional capacity as we establish our 2010 Capital Expenditure Budget and pursue acquisition opportunities."
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