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, Inc. (NYSE: WTI) has announced the timing for its fourth quarter and full year 2022 earnings release, scheduled for March 7, 2023, after the NYSE market close. A conference call to discuss the financial outcomes will take place on March 8, 2023, at 9:00 a.m. CT. The company will also participate in the 35th Annual Roth Conference in Dana Point, California, from March 12-14, 2023, featuring discussions with investors led by key executives. As of September 30, 2022, W&T Offshore operates in 47 offshore fields, holding substantial acreage across the Gulf of Mexico.
W&T Offshore, Inc. (NYSE: WTI) announced the closing of a $275 million offering of 11.75% Senior Second Lien Notes due 2026. The funds will be used to redeem existing 9.75% Senior Second Lien Notes due 2023, significantly reducing interest payments and enhancing financial flexibility. This move aims to improve the company's balance sheet and maintain liquidity for potential capital projects and acquisitions. As of September 30, 2022, W&T Offshore operates in 47 offshore fields and leases approximately 622,000 gross acres in the Gulf of Mexico, presenting opportunities for growth.
On January 12, 2023, W&T Offshore (NYSE: WTI) announced the pricing of $275 million in 11.750% senior second lien notes due in 2026. This private offering is set to close on January 27, 2023, pending customary conditions. The net proceeds will be used to redeem $552.5 million of existing 9.75% senior second lien notes due in 2023. The notes are offered only to qualified institutional buyers and non-U.S. investors. The company's operations focus on oil and natural gas exploration in the Gulf of Mexico, holding interests in 47 offshore fields.
W&T Offshore (NYSE: WTI) announced a private offering of $275 million in senior second lien notes due 2026. The funds will be used to redeem existing 9.75% Senior Second Lien Notes due 2023 at 100% of the principal amount plus interest. The notes will not be registered under the Securities Act and will only be offered to qualified institutional buyers and non-U.S. investors. The company operates in the Gulf of Mexico, holding interests in 47 offshore fields and approximately 622,000 gross acres. The press release contains forward-looking statements that may be subject to risks.
W&T Offshore, Inc. (NYSE: WTI) has announced the promotion of three key executives: W. Allen Tate to Senior Vice President of Marketing, Jake G. Woodall to Vice President of Midstream, and Kristen Ecklund to Vice President of Human Resources. Chairman and CEO Tracy W. Krohn expressed confidence in their capabilities, noting their extensive industry experience and significant contributions to the company. W&T Offshore operates in the Gulf of Mexico and has interests in 47 fields and approximately 622,000 gross acres leased, supporting its continued growth.
W&T Offshore reported robust third-quarter 2022 results, achieving production of 41.5 MBoe/d, net income of $66.7 million, and Adjusted EBITDA of $113.9 million. The company generated Free Cash Flow of $71.1 million, marking the 19th consecutive quarter of positive cash flow. Cash reserves increased to $447.1 million, while net debt fell to $254.3 million, a 48% drop year-over-year. Despite a slight revenue decrease from Q2, revenues nearly doubled compared to Q3 2021. The company has amended its credit agreement, extending the maturity to January 2024, positioning itself favorably for future growth.
W&T Offshore, Inc. (NYSE: WTI) has announced the schedule for its third-quarter 2022 earnings release, which will take place on November 8, 2022, after market close. Following the release, a conference call to discuss financial and operational results is set for November 9, 2022, at 9:00 a.m. CT (10:00 a.m. ET). Interested parties can join the call via webcast on the company’s website or by phone. The company currently operates in the Gulf of Mexico and holds interests in 47 fields, covering approximately 637,000 gross acres.
W&T Offshore (NYSE: WTI) announced its participation in key investor events. Virtual one-on-one meetings are scheduled for August 23-24, 2022, at the Seaport Research Partners Annual Summer Investor Conference. Additionally, CEO Tracy W. Krohn will present at the Barclays CEO Energy-Power Conference on September 7, 2022, at 3:35 p.m. EDT in New York City, with one-on-one meetings available throughout the day. Updated investor materials will be accessible on the company’s website under the 'Presentations' section.
W&T Offshore, Inc. (NYSE: WTI) announced the schedule for its second quarter 2022 earnings release, set for August 8, 2022, before market opening. A conference call to discuss the results will follow at 9:00 a.m. CT. Interested parties can access the call through the company's website or by phone. Additionally, W&T will participate in the EnerCom Denver Energy Conference from August 7-10, 2022, with CEO Tracy W. Krohn presenting on August 8. The company operates offshore in the Gulf of Mexico, holding interests in 47 fields and approximately 655,000 gross acres.
W&T Offshore, Inc. (NYSE: WTI) announced the appointment of Jonathan Curth as Executive Vice President, General Counsel, and Corporate Secretary, effective June 14, 2022. Curth brings extensive legal experience in the exploration and production sector, with a background in acquisitions, capital markets, and corporate transactions. Chairman and CEO Tracy W. Krohn expressed enthusiasm for Curth’s insight and contributions to W&T's strategic vision aimed at enhancing shareholder value.