W&T Offshore, Inc. reports recurring developments tied to its offshore oil, natural gas and NGL business in the Gulf of America. The company operates as an independent producer with working interests in federal and state waters off Louisiana, Texas, Mississippi and Alabama, including conventional shelf, deepwater and Alabama state-water acreage.
Company news commonly covers quarterly and annual operating results, production mix, commodity prices, revenue, lease operating metrics, depreciation, depletion and amortization, asset retirement obligations, proved reserves and guidance. Updates also include dividend declarations, acquisition and development activity, capital-structure matters, shareholder voting items and governance disclosures.
W&T Offshore (NYSE: WTI) is participating in the Barclays CEO Energy-Power Conference from September 8-10, 2020. CEO Tracy W. Krohn is scheduled to present on September 10 at 9:45 AM ET and will conduct virtual one-on-one meetings. The presentation will be broadcast live and available for later viewing on W&T's website, along with an updated investor slide deck. W&T Offshore operates predominantly in the Gulf of Mexico, holding interests in 51 producing fields and approximately 772,000 gross acres under lease.
W&T Offshore (NYSE: WTI) reported its Q2 2020 results with a production of 42,037 Boe/d, a 20% increase from Q2 2019. The company faced a net loss of $5.9 million, or $0.04 per share, with an Adjusted EBITDA of $42.1 million. Revenues fell 59% to $55.2 million, attributed to low commodity prices. Total proved reserves remained relatively unchanged at 157.5 MMBoe. W&T successfully reduced long-term debt by $72.5 million, saving $7.1 million in annual interest. Operationally, the company curtailed production and suspended drilling due to price declines, while maintaining cash flow and financial flexibility.
W&T Offshore, Inc. (NYSE: WTI) announced its second quarter 2020 earnings release scheduled for August 5, 2020, post-market closure. A conference call will follow on August 6, 2020, at 11:00 a.m. CT to discuss the financial and operational results. Interested participants can join via phone or webcast, with an audio replay available later on the company's website. W&T Offshore operates in the Gulf of Mexico, holds interests in 51 producing fields, and manages approximately 815,000 gross acres of leased land for oil and natural gas production.
W&T Offshore announced an updated investor presentation available on its website, focusing on its operations in the Gulf of Mexico. The company boasts working interests in 51 producing fields and approximately 815,000 gross acres under lease, with significant daily production from its operated wells. The presentation aims to inform investors about the company's growth through acquisitions, exploration, and development. For further details, visit www.wtoffshore.com.
W&T Offshore (NYSE: WTI) reported strong operational and financial results for Q1 2020, producing 53,553 Boe/d, a 61% increase from Q1 2019. The company achieved net income of $66 million ($0.46/share) and significant Adjusted EBITDA of $62.1 million, despite challenging oil prices. W&T reduced long-term debt by $72.5 million, enhancing financial flexibility. However, it suspended drilling activities and lowered capital expenditures due to declining commodity prices. The company aims to maintain liquidity while responding to ongoing market uncertainty and recently completed a 25% acquisition in Magnolia Field.
W&T Offshore, Inc. (NYSE: WTI) has announced the date for its first quarter 2020 earnings release and conference call. The earnings report will be released on June 22, 2020, after trading hours. A conference call to discuss the results is scheduled for June 23, 2020, at 9:00 a.m. CT. Interested participants can join by phone or through a webcast available on the company's website. W&T Offshore operates primarily in the Gulf of Mexico, holding interests in 51 producing fields and leasing approximately 815,000 gross acres.
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