Welcome to our dedicated page for W&T Offshore news (Ticker: WTI), a resource for investors and traders seeking the latest updates and insights on W&T Offshore stock.
W&T Offshore Inc (WTI) is an independent energy company focused on oil and natural gas exploration in the Gulf of Mexico. This page aggregates official press releases, regulatory filings, and operational updates critical for understanding the company's offshore drilling activities and hydrocarbon production strategies.
Investors and analysts will find timely updates on quarterly earnings, asset acquisitions, and technical developments in deepwater drilling operations. All content is sourced directly from company communications and SEC filings to ensure accuracy.
The resource covers key operational areas including exploration permits, production rate changes, environmental compliance updates, and strategic partnerships. Content is organized chronologically to show operational continuity while allowing quick access to specific announcements.
Bookmark this page for streamlined access to W&T Offshore's evolving position in offshore energy markets. Check regularly for updates on drilling innovations, regulatory developments, and production milestones impacting Gulf of Mexico operations.
W&T Offshore (NYSE: WTI) announced a favorable court ruling where U.S. Magistrate Judge Dena Palermo recommended denying preliminary injunction motions from two surety companies that demanded over $100 million in collateral. The Court found that the sureties failed to demonstrate they would suffer irreparable harm if their cash collateral demands were not granted.
The ruling effectively nullifies all current collateral requests by sureties, and W&T will not be required to post collateral until a determination on the merits of the pending lawsuit with the remaining surety providers. This decision, combined with a previously-announced settlement agreement, represents significant positive outcomes for W&T in their fight against what they describe as "unlawful predatory business practices" in the Gulf of America operations.
W&T Offshore (NYSE: WTI) has scheduled its first quarter 2025 earnings announcement and conference call. The company will release its Q1 2025 financial results on Tuesday, May 6, 2025, after NYSE trading hours. A conference call to discuss the results will be held on Wednesday, May 7, 2025, at 11:00 a.m. Central Time (12:00 p.m. Eastern Time).
Interested participants can join the call by dialing (844) 739-3797 for domestic callers or (412) 317-5713 for international callers. The call will also be webcast on the company's website, with an audio replay available afterward.
W&T Offshore (NYSE: WTI) has announced its participation in a Water Tower Research (WTR) fireside chat scheduled for April 7, 2025, at 10:00 AM Central Time. The event will feature a discussion between WTR's Managing Director Jeff Robertson and W&T's Chairman and CEO Tracy Krohn.
The conversation will focus on several key aspects of W&T's operations in the Gulf of America, including:
- Strategy for value creation
- Criteria for attractive asset acquisitions
- Value enhancement through exploitation and cost management
- 2025 production outlook
- Balance sheet management for growth
Interested parties can access the event through advance registration via the provided Zoom link. Both the live discussion and a replay will be available on W&T's website in the Investors section.
W&T Offshore (NYSE: WTI) has announced the promotion of Huan Gamblin to Executive Vice President and Chief Technical Officer. Gamblin, who joined the company in 2020, brings over 20 years of energy industry experience to the role.
Prior to this promotion, Gamblin served as Manager of Acquisition and Divesture and later as Vice President of Business Development at W&T. His previous experience includes positions as Algeria Reservoir Engineering Manager at Occidental Petroleum and various engineering roles at Anadarko Petroleum, working with U.S. onshore, Gulf of America, and international assets.
According to Chairman and CEO Tracy W. Krohn, Gamblin has been instrumental in W&T's acquisitions strategy and will be an integral part of the executive leadership team. Gamblin holds a bachelor's degree in Petroleum Engineering from the University of Texas.
W&T Offshore (NYSE: WTI) reported its Q4 and full-year 2024 results, achieving production of 33.3 MBoe/d (43% oil) for the full year and 32.1 MBoe/d in Q4. The company increased year-end 2024 proved reserves to 127.0 MMBoe, with oil reserves up 39%.
Key financial metrics include a net loss of $87.1 million for 2024 ($0.59 per share) and $23.4 million for Q4 ($0.16 per share). The company generated Adjusted EBITDA of $153.6 million and Free Cash Flow of $44.9 million in 2024.
Notable developments include:
- Acquisition of six shallow water GOA fields for $77.3 million
- Sale of Garden Banks assets for $11.9 million
- Receipt of $58.5 million insurance settlement
- Refinancing of debt with new $350 million 10.75% Senior Notes
- Reduction of gross debt by $39.0 million
The company maintained its quarterly dividend of $0.01 per share, payable March 24, 2025.
W&T Offshore (NYSE: WTI) has announced the schedule for its fourth quarter and full year 2024 earnings release and conference call. The company will release its financial results on Monday, March 3, 2025, after NYSE trading hours. A conference call to discuss the results will be held on Tuesday, March 4, 2025, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time).
Interested participants can join the call by dialing (844) 739-3797, while international callers should use (412) 317-5713. The call will also be webcast on the company's website, with an audio replay available afterward.
W&T Offshore (NYSE: WTI) has announced the closing of its $350 million 10.750% Senior Second Lien Notes due 2029 offering and several financial improvements. The company has:
- Reduced interest rate by 100 basis points from previous 11.750% Senior Second Lien Notes
- Repaid $114.2 million outstanding under the MRE Term Loan
- Secured a new $50 million revolving credit facility through July 2028
- Received $58.2 million from a previously announced $58.5 million insurance settlement
The new notes received improved credit ratings from S&P and Moody's and were significantly oversubscribed, including international investors. The proceeds will be used to purchase outstanding 2026 Senior Second Lien Notes, repay the MRE Term Loan, fund redemption of remaining 2026 notes, and cover related expenses.
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