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W & T Offshore Inc - WTI STOCK NEWS

Welcome to our dedicated news page for W & T Offshore (Ticker: WTI), a resource for investors and traders seeking the latest updates and insights on W & T Offshore.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect W & T Offshore's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of W & T Offshore's position in the market.

Rhea-AI Summary
W&T Offshore, Inc. (NYSE: WTI) announces participation in a virtual investor event with Water Tower Research to discuss capital allocation, asset acquisitions, partnership structures, and balance sheet management.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.77%
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Rhea-AI Summary
W&T Offshore, Inc. (WTI) announces modifications to a term loan with Munich Re Reserve Risk Financing, Inc. to enhance liquidity without increasing net leverage. The Term Loan had a principal balance of $215 million, amortized down to $114 million by December 31, 2023. Key highlights include deferring $30 million in principal payments for 2024, no change in final maturity date, and a fixed 7.00% interest rate. The company transferred assets to SPVs in the original transaction, retaining upside value in Mobile Bay Assets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Rhea-AI Summary
W&T Offshore, Inc. (WTI) will participate in the 36th Annual Roth Conference in March 2024. Tracy W. Krohn and Sameer Parasnis will host investor meetings. An updated investor presentation will be available on the company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.47%
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none
Rhea-AI Summary
W&T Offshore, Inc. (NYSE: WTI) reported operational and financial results for Q4 and full year 2023, acquisitions totaling $99.4 million, strong production of 34.9 MBoe/d, net income of $15.6 million for 2023, Adjusted EBITDA of $183.2 million, and a dividend of $0.01 per share for Q1 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.07%
Tags
dividends earnings
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Rhea-AI Summary
W&T Offshore, Inc. announces the timing of its Q4 and full year 2023 earnings release and conference call. The company will issue its earnings release on March 5, 2024, and host a conference call on March 6, 2024. Additionally, a recent interview with the Chairman and CEO is available on the company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.17%
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earnings
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Rhea-AI Summary
W&T Offshore, Inc. announces a successful acquisition of six fields in shallow waters of the Gulf of Mexico. The purchase price was $72.0 million, excluding certain closing costs, funded from the Company’s cash on hand. The fields acquired include Eugene Island 064, Main Pass 061, Mobile 904, Mobile 916, South Pass 049, and West Delta 073, with estimated production ranging from 3,700 to 5,700 barrels of oil equivalent per day. The acquisition adds significant proved reserves of 18.7 million barrels of oil equivalent and material upside with proved plus probable reserves of 60.6 MMBOE. The transaction is expected to be accretive and provide strong producing properties, with the potential for increased production through workovers, recompletions, and facility repairs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.02%
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acquisition
Rhea-AI Summary
W&T Offshore, Inc. (NYSE: WTI) announced the approval of a quarterly cash dividend of $0.01 per share of common stock, payable on December 22, 2023, to shareholders of record as of November 28, 2023. The decision reflects the company's commitment to free cash flow generation and strong balance sheet, aiming to enhance shareholder returns.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.57%
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dividends
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Rhea-AI Summary
W&T Offshore, Inc. (NYSE: WTI) reported operational and financial results for Q3 2023, with increased production, strong financials, and accretive acquisitions. Adjusted EBITDA grew by 45% to $56.3 million, and Free Cash Flow was $25.4 million, up 162% from Q2 2023. The company acquired producing properties in the Gulf of Mexico for $28.9 million, maintaining cash and cash equivalents of $149.0 million at September 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.57%
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earnings
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Rhea-AI Summary
W&T Offshore, Inc. announced the timing of its Q3 2023 earnings release and conference call. The earnings release will be issued on November 7, 2023, and the conference call will take place on November 8, 2023. Interested parties can participate by dialing the provided numbers or accessing the webcast on the company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.99%
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earnings
Rhea-AI Summary
W&T Offshore appoints John Poole as Vice President of HSE&R
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.32%
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W & T Offshore Inc

NYSE:WTI

WTI Rankings

WTI Stock Data

389.17M
97.19M
33.78%
44.52%
15.88%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
Link
US
Houston

About WTI

we are an independent oil and natural gas acquisition, exploitation and exploration company. we are focused primarily in the gulf of mexico area, where we have developed significant technical expertise and where the high production rates associated with hydrocarbon deposits have historically provided us the best opportunity to achieve a rapid payback on our invested capital. we own working interests in approximately 77 fields in federal and state waters, and have interests in leases covering approximately 0.9 million acres. our proved reserves at december 31, 2009 were 371 bcfe, with a pre-tax pv-10 of $890.0 million (including plug and abandonment cost). of those, 76% were proved developed reserves and 45% were natural gas reserves. we are headquartered in houston, texas and trade on the nyse under the symbol "wti"​. for more information, please visit our website at www.wtoffshore.com