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 reported Q3 2024 financial results with production of 31.0 MBoe/d (52% liquids), generating net cash from operating activities of $14.8 million and Free Cash Flow of $3.9 million. The company reported a net loss of $36.9 million, or $(0.25) per diluted share, with Adjusted EBITDA of $26.7 million. Key highlights include reduced lease operating expenses at $72.4 million (6% below guidance), increased cash position to $126.5 million, and maintained low leverage with Net Debt to TTM Adjusted EBITDA of 1.6x. The company declared a Q4 2024 dividend of $0.01 per share and reduced its 2024 full-year capital expenditure budget to $25-35 million.
W&T Offshore (NYSE: WTI) has scheduled its third quarter 2024 earnings release and conference call. The company will release its Q3 2024 earnings report on Thursday, November 7, 2024, after NYSE trading hours. A conference call to discuss the results will be held on Friday, November 8, 2024, at 9:00 a.m. Central Time. Participants can join via phone or webcast, with an audio replay available on the company's website afterward.
W&T Offshore (NYSE: WTI) has released its 2023 Corporate Environmental, Social, and Governance (ESG) report, marking its fourth sustainability report. The company has made significant progress in various areas, including shareholder rights, board structure, and environmental initiatives. Key highlights include:
- 26% decrease in total Scope 1 GHG emissions from 2019 to 2023
- 42% reduction in scope 1 GHG production intensity over the past five years
- Improved waste management tracking
- Enhanced shareholder engagement
- Establishment of an ESG Committee chaired by Dr. Nancy Chang
The report demonstrates W&T's commitment to environmental stewardship, sound corporate governance, and positive contributions to employees and communities.
W&T Offshore (NYSE: WTI) has appointed George J. Hittner as Executive Vice President, General Counsel and Corporate Secretary, effective September 1, 2024. Hittner brings over 20 years of legal, corporate, and legislative experience from both public and private sectors. His background includes founding his own law firm, serving as general counsel at American Traffic Solutions (now Verra Mobility , NASDAQ: VRRM), and working as a White House appointee at the U.S. Department of Labor and Transportation. Hittner holds degrees from Texas A&M University, The University of Texas, and The University of Virginia. CEO Tracy W. Krohn expressed excitement about Hittner joining the executive team, citing his extensive experience as an asset for W&T's strategic goals.
W&T Offshore (NYSE: WTI) has announced its participation in the EnerCom Denver Conference in Colorado. Tracy Krohn, Chairman and CEO, is scheduled to present on Monday, August 19th, 2024, at 4:00 pm Mountain Time. The presentation will be webcast live and archived on the company's website. Senior management will also host one-on-one meetings with investors. An updated investor slide deck will be posted on the day of the event in the 'Investors' section of W&T's website under 'Presentations'.
W&T Offshore (NYSE: WTI) announced its Q2 2024 results and declared a Q3 2024 dividend of $0.01 per share.
Key highlights: daily production of 34.9 MBoe at the midpoint of guidance; lease operating expenses (LOE) at $74 million, below guidance; net cash from operations at $37.4 million; free cash flow at $18.7 million, marking the 26th consecutive positive quarter; net loss of $15.4 million, adjusted net loss at $8 million; adjusted EBITDA of $45.9 million; cash position improved by 30% to $123.4 million; net debt decreased by 9% to $268.5 million; mid-year SEC proved reserves increased by 15% to 141.9 MMBoe with a PV-10 value up 28% to $1.4 billion.
Production was impacted by a third-party shut-in at the Mobile Bay processing plant but was offset by increased production from acquired wells.
W&T Offshore (NYSE: WTI) has announced the schedule for its second quarter 2024 earnings release and conference call. The company will release its Q2 2024 earnings on Tuesday, August 6, 2024, after the NYSE closes. A conference call to discuss the financial and operational results is scheduled for Wednesday, August 7, 2024, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Interested parties can join the call by dialing (844) 739-3797 for domestic participants or (412) 317-5713 for international callers. The call will also be webcast on W&T Offshore's website, with an audio replay available afterward.
W&T Offshore, Inc. reported operational and financial results for Q1 2024, including a dividend declaration for Q2 2024. They acquired six Gulf of Mexico fields, increased oil production by 15%, reported adjusted EBITDA of $49.4 million, and generated positive Free Cash Flow for the 25th consecutive quarter. They declared a dividend of $0.01 per share for Q2 2024 and expanded their Board.
FAQ
What is the current stock price of W&T Offshore (WTI)?
What is the market cap of W&T Offshore (WTI)?
