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W&T Offshore ups capex budget, acquires interest in Dantzler project

W&T Offshore (WTI -2.4%) raises its 2013 capital budget to $550M for increased deepwater activity, completion costs on successful exploration wells and additional onshore drilling at the Yellow Rose Field.

As part of increased deepwater activity, WTI acquires a 20% working interest in the Dantzler prospect in the Gulf of Mexico, operated by Noble Energy (NBL -0.5%), which has estimated a prospect resource potential of 50M-220M boe.

WTI says the increased budget doesn't include potential acquisitions.

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