W&T Offshore (WTI +14.4%) could spend up to $3B on acquisitions by the end of the year as it...

|By:, SA News Editor

W&T Offshore (WTI +14.4%) could spend up to $3B on acquisitions by the end of the year as it is seeing many more assets up for sale than usual, CEO Tracy Krohn says a day after the oil and natural gas producer posted a higher-than-expected Q2 profit on lower costs. WTI says its revolving bank credit facility of $650M is largely undrawn and can be used for acquisitions.