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. (NYSE: WTI) is an independent oil and natural gas producer with offshore operations in the Gulf of America. The WTI news feed on Stock Titan brings together company-issued updates, market announcements and regulatory disclosures that relate to its crude petroleum and natural gas extraction activities on the outer continental shelf and in deepwater and state waters off the coasts of Louisiana, Texas, Mississippi and Alabama.
Investors following W&T Offshore news can review regular earnings releases, where the company reports production volumes for crude oil, natural gas and natural gas liquids, average realized prices and details on lease operating expenses, gathering and transportation costs, and other key operating metrics. These releases also discuss non-GAAP measures such as Adjusted EBITDA, Adjusted Net Loss, Free Cash Flow and Net Debt, along with commentary on production trends, capital expenditures, workovers, recompletions and infrastructure projects.
News items also cover corporate developments, including management and board changes, conference call and webcast schedules, participation in investor events and legal or regulatory matters such as surety provider litigation and settlements. W&T Offshore has highlighted settlements and court rulings related to surety providers, as well as actions that affect its surety bond portfolio, premium rates and collateral requirements.
Because W&T Offshore has grown through acquisitions, exploration and development, its news flow often references acquired fields being brought online, non-core asset sales, insurance settlements and debt refinancing transactions involving senior second lien notes and revolving credit facilities. For readers tracking WTI, the news page provides a centralized view of these operational, financial and legal updates, helping them monitor how the company manages its offshore asset base, balance sheet and exposure to commodity prices over time.
W&T Offshore reported strong operational and financial results for Q1 2021, producing 39,657 Boe/d, a 4% increase from Q4 2020. The company reported a net loss of $0.7 million but adjusted net income of $15.9 million, marking a significant improvement. Adjusted EBITDA surged 63% to $57.6 million, driven by higher commodity prices and enhanced production efficiency. Free cash flow also rose dramatically to $40 million. The company focused on controlling costs, with reduced lease operating expenses, and indicated positive outlooks for the remainder of the year due to favorable market conditions and strategic growth plans.
W&T Offshore, Inc. (NYSE: WTI) has announced the release of its first quarter 2021 earnings on May 4, 2021, after market close. A conference call to discuss these results is scheduled for May 5, 2021, at 9:00 a.m. CT. Interested participants can join by calling 844-739-3797 or via the company's website. W&T operates in the Gulf of Mexico with holdings in 43 producing fields and approximately 737,000 gross acres leased.
W&T Offshore has released its inaugural Environmental, Social and Governance (ESG) report available on its website. This report covers ESG initiatives and key performance indicators from 2018 to 2020, aligning with recognized standards such as SASB and TCFD. CEO Tracy W. Krohn highlighted the company's long-standing commitment to sustainable operations. Currently, W&T Offshore operates 43 producing fields and holds approximately 737,000 gross acres in the Gulf of Mexico, focusing on safety and sustainability in its operations.
W&T Offshore (NYSE: WTI) will participate in the Virtual 33rd Annual ROTH Conference from March 15-17, 2021. CEO Tracy W. Krohn and CFO Janet Yang will hold virtual one-on-one investor meetings on March 16. A pre-recorded presentation by Krohn will be available on the company’s website starting March 11, along with an updated investor slide deck. W&T Offshore operates in the Gulf of Mexico, with interests in 43 producing fields and approximately 737,000 gross acres under lease.
W&T Offshore (NYSE: WTI) reported its fourth quarter and full year 2020 results, showing a production of 38,261 Boe/d, 11% higher than Q3 2020. The company reported a net income of $37.8 million for 2020 but faced a net loss of $8.9 million in Q4 2020. Adjusted EBITDA reached $159 million for the year. Proved reserves decreased to 144.4 MMBoe primarily due to lower commodity prices. The company plans a capital expenditure budget of $30-$60 million for 2021, focusing on maintaining production and generating free cash flow. Free Cash Flow for 2020 stood at $76 million, slightly above 2019 figures.
HOUSTON, Feb. 08, 2021 (GLOBE NEWSWIRE) -- W&T Offshore (NYSE: WTI) announced the schedule for its fourth quarter and full year 2020 earnings release. The earnings report will be issued on March 3, 2021, after trading hours. A conference call to discuss the results is set for March 4, 2021, at 9:00 a.m. CT. Interested participants can join via phone or webcast. W&T Offshore operates in the Gulf of Mexico, with interests in 50 producing fields and approximately 772,000 gross acres under lease.
W&T Offshore reported key operational updates on January 11, 2021, including the consolidation of its Alabama natural gas treatment facilities, which is expected to save approximately $5 million annually starting in 2021. The company also won two blocks in the Gulf of Mexico Lease Sale 256, covering around 8,800 acres, for $500,000. Additionally, the borrowing base under its revolving credit facility was set at $190 million, maintaining $80 million in borrowings. New crude oil hedges were added for 200 barrels per day production at a floor of $40.00.
W&T Offshore (NYSE: WTI) has reported an operational update for Q4 2020, indicating a significant restoration of production in the Gulf of Mexico following recent storms. The company forecasts an average production of 34,700 to 36,900 Boe/d for the quarter, with 34% being oil. This is an increase from a previous estimate of 31,500 to 35,000 Boe/d. CEO Tracy W. Krohn highlighted the team's efficiency in restoring production and expressed optimism for strong shareholder value creation in 2021 due to favorable market conditions.
W&T Offshore (NYSE: WTI) announced its status as the apparent high bidder for two blocks in Gulf of Mexico Lease Sale 256 held on November 18, 2020. The blocks include Eugene Island South Addition block 389 and Ewing Banks block 979, covering approximately 8,800 acres. If awarded, W&T will pay about $518,000 for the leases, which have a five-year term and a 12.5% royalty. Additionally, W&T plans two investor conferences on November 30 and December 9, 2020, where management will engage with investors and present updated materials on their website.
W&T Offshore (NYSE: WTI) reported a net loss of $13.3 million or $0.09 per share for Q3 2020, down significantly from a profit of $75.9 million in Q3 2019. Production averaged 34,459 Boe/d, a 16% decrease year-over-year, primarily due to storm-related shut-ins. Adjusted EBITDA fell 73% to $19.5 million, while Free Cash Flow reached $5.9 million. The company anticipates $5 million in lease operating expenses for repairs in Q4 2020. Future cost savings of $5 million annually are expected from the consolidation of gas treatment plants.