W&T Offshore reports progress with regulators on suspension, shares +5.2%

W&T Offshore (WTI+5.2% after reporting progress with U.S. regulators concerning certain aspects of its operations on federal oil and gas leases in the Gulf of Mexico.

WTI says it has met with the EPA's suspension and debarment official, and discussions are continuing to seek to remove the suspension from participation in federal contracts.

The suspension is directed toward the parent company but does not affect or limit its operations on federal oil and gas leases it presently holds; it also does not affect its W&T Energy VI subsidiary, a significant leaseholder in the Gulf of Mexico.

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