Tue, Aug. 25, 5:40 PM
Mon, Aug. 24, 6:41 PM
- The plunge in oil prices may lead to some oil companies going out of business within a few weeks, according to Energy Aspects senior oil analyst Amrita Sen, who points to Linn Energy ([LINE]], LNCO) and Energy XXI (NASDAQ:EXXI) as bankruptcy candidates after exhausting more than 75% of the credit available to them.
- Sen names Midstates Petroleum (NYSE:MPO), Resolute Energy (NYSE:REN), W&T Offshore (NYSE:WTI), Breitburn Energy (NASDAQ:BBEP) and Comstock Resources (NYSE:CRK) as seeing their borrowing facilities "reduced the most" among companies tracked by the firm.
- "The amount of money available to these U.S. producers to borrow is half, less than half in some cases, compared to a year ago," Sen writes, which "makes it very, very difficult for them to continue investing, continue drilling," but she also predicts that supplies will tighten by the end of next year, and prices could easily more than double from current levels.
Wed, Aug. 5, 6:56 PM
Thu, May 7, 1:24 AM
Thu, Mar. 26, 5:39 PM
Wed, Mar. 25, 11:23 AM
- W&T Offshore (WTI -0.4%), in presentation slides at the Howard Weil Energy Conference, says it foresees FY 2015 production of 16.6M-18.4M boe, with the 17.5M boe midpoint in-line with 2014 output of 17.4M boe.
- WTI outlines a 2015 capital budget of $200M, which includes $100M for the Rio Grande Loop system and Dantzler completion costs in the Gulf of Mexico, and $35M toward a two well exploration program at Deepwater Medusa.
Wed, Mar. 4, 6:06 PM
Tue, Mar. 3, 5:35 PM
Mon, Jan. 5, 5:35 PM
Dec. 20, 2014, 1:34 PM
- These five oil and gas producers have among the highest net debt-to-capital ratios in the industry, writes Avi Salzman, which could be an issue if oil prices stay at these levels:
- Ultra Petroleum (NYSE:UPL) at 115%, EXCO Resources (NYSE:XCO) at 90.3%, Halcon Resources (NYSE:HK) at 68.7%, W&T Offshore (NYSE:WTI) at 68.1%, Energy XXI (NASDAQ:EXXI) at 65.2%.
- Previously: Barron's: Five oils to buy now (Dec. 20, 2014)
Dec. 16, 2014, 8:39 AM
- Apache (NYSE:APA) was not in breach of contract in a lawsuit brought by W&T Offshore (NYSE:WTI), a federal jury found late yesterday.
- W&T filed a claim in 2011 accusing APA of breaking the terms of a processing contract and inaccurately recording how much processed oil W&T was owed.
- APA has now filed a counter suit, accusing W&T of breaching the parties' joint operating agreement by refusing to pay its 49% share of plugging and abandonment costs for three offshore wells in the Gulf of Mexico.
Nov. 6, 2014, 9:04 AM
Nov. 5, 2014, 5:19 PM
Oct. 9, 2014, 12:46 PM
Sep. 25, 2014, 12:15 PM
- W&T Offshore (WTI -2.7%) is upgraded to Buy from Accumulate with an $18 price target at KLR Group, which also sees a potential 45% upside to its target.
- KLR forecasts WTI to grow liquid volumes by 30% in 2016, sparked by the Big Bend and Dantzler prospects; the Big Bend well is projected to begin production in late 2015.
- The firm sees future catalysts ahead with WTI’s new oil well at its Mahogany field, where production should begin this Q4.
- Shares aren't being helped by the upgrade, as energy stocks are faring poorly in today's broad market selloff.
Aug. 7, 2014, 9:23 AM
WTI vs. ETF Alternatives
W&T Offshore Inc is anindependentoil and natural gas producer. The Company is engaged in the exploration, development, and acquisition of oil and natural gas properties in the Gulf of Mexico andthe Permian Basin in West Texas.
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