W&T warns it may be blocked from federal contracts, shares -10%

W&T Offshore (WTI -10.1%) said Wednesday it is facing suspension from federal contracts due to pollution issues from 2009.

The EPA is proposing a three-year debarment from participation in future federal contracts, among other federal benefits; WTI says the actions are undeserved and do not reflect its recent record of responsibility and compliance in its Gulf of Mexico operations.

The news prompts CapitalOne to downgrade shares to Neutral from Add.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs